Can You Use Superannuation To Pay Off An Existing Mortgage

Can You Use Superannuation To Pay Off An Existing Mortgage?

A relationship has been established around superannuation and mortgage debt that could impact the stability of your retirement. As prospective Australian retirees approach their preservation ages and retirement, those who are yet to own their own homes may struggle to maintain a comfortable retirement. Retirement plans often work out a prospective financial situation, and assume…

Who Has The Power To Make Your Financial Decisions

Who Has The Power To Make Your Financial Decisions?

As you grow older, your aim may be to live a long, happy and healthy life. This is hopefully with the mental capacity to make your own financial and lifestyle decisions, and the appropriate superannuation to fund it. But not everyone is always able to do this as they grow older. In the worst-case scenario,…

ATO Warns Against GST Fraud Attempts

ATO Warns Against GST Fraud Attempts

Registering for an ABN and applying for GST refunds when you don’t own a business or are not eligible is fraud. The Australian Taxation Office (ATO) has identified a significant number of GST refund fraud attempts, totalling an estimated $850 million to around 40,000 individuals. This fraud involves predominantly participants inventing fake businesses to claim…

The Benefits The Downsides Of SMSF Set UP

The Benefits & The Downsides Of SMSF Set UP

One of the benefits of establishing or opting for an SMSF is due to the control they are given over where the money is invested. While this sounds enticing, the downside is that they involve a lot more time and effort as all investment is managed by the members/trustees. They are also often the targets…