The word recession has a way of grabbing attention. It dominates headlines, sparks market speculation, and often leaves people wondering what it could mean for their finances. While economists debate forecasts and probabilities, the more important question for individuals and families is: How prepared are you if economic conditions become more challenging?

Tax time is much easier when you're prepared. Bringing the right information to your appointment helps us complete your tax return efficiently, identify all eligible deductions and ensure nothing is missed.

To help you get the most value from your appointment, here's a checklist of the information and documents you should bring along.

The property market is starting to shift in buyers’ favour. With more listings, less competition from investors, lower auction success rates and increased discounting, buyers now have greater choice and stronger negotiating power. While quality homes still attract interest, conditions are becoming more balanced for those considering their next move.

Global markets ended the financial year strongly as easing Middle East tensions and lower oil prices reduced inflation concerns and supported investor confidence. Australian shares posted modest gains but lagged overseas markets, while bond markets rallied and the Australian dollar weakened. Emerging markets continued to benefit from strong demand for AI and semiconductor-related industries.

Before you can determine whether you're on track, it's important to define what retirement means to you. For some people, retirement means extensive travel, dining out, and pursuing hobbies. For others, it's about spending more time with family, volunteering, or simply enjoying a more relaxed lifestyle. The lifestyle you envision will largely determine how much income you'll need and, therefore, how much you should be saving today.

The past few weeks and months have seen major developments that affect how trusts are taxed in Australia.

While the technical details are complex, the key message for clients is simple:

• Some tax risks around trust distributions have reduced

• The overall tax advantage of discretionary trusts is expected to reduce significantly from 2028

• The next 1 - 2 years are critical for reviewing and potentially restructuring your arrangements

We explain here what has changed and what it means for you.