As you approach or enter your retirement years, there can be a desire to move away from your current place of residence and start afresh in a new location – a new atmosphere, a new climate, and a new start.

Depending on your personal circumstances, this desire can often culminate into one of the following:

• a sea change (moving to a sea-side location)

• a tree change (moving to a rural/country location)

• or a blend of both (depending on the location)

Interestingly, for inner city or suburban dwellers, this desire is often categorised as ‘counter-urbanism’ (the desire to pursue a shift in housing type and a reduction in ongoing living expenses).

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With the 2019 Budget week having concluded following the formal delivery of the 2019/20 Federal Budget by the Treasurer on 2 April 2019, and the Opposition response on 4 April 2019, it’s now “game on” in terms of policy positions as the electorate starts to consider where they will cast their vote in the upcoming election.

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Superannuation is widely considered to be one of the most tax-effective investment structures available for wealth accumulators and retirees alike. As such, from a retirement planning standpoint, building wealth inside superannuation through contributions (and, compound investment returns) can be an important focus before reaching your retirement years. However, making voluntary contributions to your superannuation can prove more difficult the further you progress through life, especially when considering contribution eligibility rules for those aged 65 and over. With this in mind, the Government has sought to provide additional flexibility for those aged 65 to 74 via a one-year work test exemption (WTE) that takes effect from 1 July 2019. In our animation, we illustrate how this exemption works.

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In our article, ‘Your 2019 financial health check’, we highlighted the importance of regularly taking stock of your personal circumstances (financial situation, goals and objectives).

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When it comes to refinancing your home loan, “refinancing” simply means taking out a new loan to pay out your current mortgage. There are a whole range of reasons why you may want to change loan providers some of which include: if your circumstances have changed, or you've had your home loan for a few years then refinancing could offer you the chance to take advantage of more flexible features.

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Estate planning is much more than having a will – it's about planning for what happens to your assets and affairs after you die, as well as who takes charge of your affairs in the event you lose capacity - your back-up plan. Sadly many Australians don't even have a will.

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The tax laws that penalise uncommercial transactions between SMSFs and related parties are set to get tougher, with an SMSF’s expenses to come under the spotlight. Now more than ever, SMSF trustees should be aware of the potential for these penalties to apply and seek advice before entering any related party transactions.

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Assessing past financial performance, and predicting future performance is an important consideration for those wishing to run a successful, long-term business.  

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On 2 April 2019, the Government handed down the 2019-20 Federal Budget.

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