Should you downsize to boost your super? Pros, cons, and tax implications

Should you downsize to boost your super? Pros, cons, and tax implications

The idea of downsizing can be very appealing to empty-nesters. There will be less cleaning, gardening and maintenance, more time for hobbies and travel, and the icing on the cake comes if you can use the cash surplus you created to give your super a significant tax-effective boost.

But is the picture totally rosy, or are there some drawbacks to downsizing?

Smart Ways to Use Your Tax Refund This Year

Smart Ways to Use Your Tax Refund This Year

You may be one of many Australians who make an interest-free loan to the federal government every year. That’s because, when you receive a tax refund, you’re not getting free money. All that’s happening is that cash which is rightfully yours is being returned, somewhat late. So it makes sense to make it work as hard as possible once it’s back in your hands.

What happens to my superannuation if…? 

What happens to my superannuation if…? 

A client once shared a poignant regret:
“When I was working and the kids were young, I saved too much. It restricted what we did when the family was together.”
This simple reflection struck a chord with me. It got me thinking about the delicate balance between saving for the future and living fully in the present. While we all know the importance of financial security, is it possible to save too much—at the expense of the moments that matter most?

Your super: A scammer’s new target

Your super: A scammer’s new target

In a recent media release, the Australian Securities and Investments Commission (ASIC) warned about a new scam doing the rounds. Scammers attempt, through cold calls to superannuation savers, to extract…

6 steps to a Happy New Financial Year

6 steps to a Happy New Financial Year

The new financial year provides an opportunity for a fresh start for your finances. Make this the financial year you get on top of yours… for good!  We’ve broken it…

Get ready for June 30 now!

Get ready for June 30 now!

When it comes to getting the most (money) from your annual tax return, there is usually a lot to think about, so we’ve identified a few options that could open…

Roadmap to retiring young

Roadmap to retiring young

The dream of retiring young is one that captivates many peoples’ imaginations. The freedom to live life on your own terms, doing what you want, when you want is undeniably…

Estate Planning is not just for retirement 

Estate Planning is not just for retirement 

Many people think that Estate Planning is only for people who are close to retirement, especially if we fall into the trap of thinking that Estate Planning is just about…

Frequently asked questions about super

Frequently asked questions about super

If the ins and outs of superannuation leave you confused, the answers to these frequently asked questions will help you understand the basics. How much do I need to retire?…

Unlocking the mysteries of your super statement

Unlocking the mysteries of your super statement

Superannuation statements. Boring, right? But if, like many people, you toss your annual super statement in a drawer or hit delete, you could be depriving yourself of many thousands of…

Who gets your super?

Who gets your super?

Who decides what happens to your superannuation savings when you die? You may think that you do, but that isn’t always the case. The ultimate decision may be made by…

Economic Update: April-June 2021

Economic Update: April-June 2021

Employment surprise JobKeeper was a cornerstone of Australia’s response to the coronavirus pandemic. It provided millions of Australians with an ongoing income and kept thousands of businesses afloat, so when…

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