Trend Shift in SMSF Management: Advisory Services on the Rise Trend Shift in SMSF Management: Advisory Services on the Rise
Tue, 19 Mar: The landscape of Self-Managed Superannuation Funds (SMSFs) is experiencing a significant shift, with the trend of independently managed funds on the decline. Expert insights from AUSIEX, a leading wholesale broker, reveal a growing preference for engaging financial advisors in the establishment of new SMSF accounts over the self-directed approach. - read more
Aussie Investors Seek Genuine Sustainable Opportunities Aussie Investors Seek Genuine Sustainable Opportunities
Tue, 19 Mar: A growing sentiment among Australian investors is the pursuit of ethically aligned investments, challenging the eco-friendly pretenses often presented by financial products. Insights gathered by the Responsible Investment Association Australasia (RIAA) reveal a striking enthusiasm for ethical investment with a notable 88 percent of participants showing interest in responsible investing strategies beyond their superannuation funds. - read more
Mortgage Pressure Soars: A Deep Dive Into Affordability Crisis Mortgage Pressure Soars: A Deep Dive Into Affordability Crisis
Mon, 18 Mar: New data sheds light on the ever-increasing challenges faced by New South Wales families grappling with housing affordability. The latest figures paint a bleak picture as home loan repayments consume a substantial portion of household incomes. - read more
New Fiscal Challenges: Examining the Impact of Taxing Unrealized Gains New Fiscal Challenges: Examining the Impact of Taxing Unrealized Gains
Mon, 18 Mar: Concerns have been raised by the Self-Managed Super Fund (SMSF) Association regarding the government's stance on superannuation taxation, emphasizing the precarious nature of a move towards levying taxes on unrealized capital gains. The SMSF Association has voiced fears that this practice, currently under deliberation for superannuation with over $3 million in tax concessions, could expand to personal investments such as rental properties. - read more
New South Wales Faces Steepest Climb in Mortgage Payments New South Wales Faces Steepest Climb in Mortgage Payments
Sun, 17 Mar: The landscape of housing affordability across Australia has seen New South Wales (New South Wales) residents bearing the heaviest burden, with new data indicating a significant portion of family incomes consumed by mortgage obligations. - read more
Scaling the Retirement Savings Peak: Adjusting for the Cost-of-Living Climb Scaling the Retirement Savings Peak: Adjusting for the Cost-of-Living Climb
Sun, 17 Mar: Adjusting for inflation and ever-climbing living costs, the benchmarks for a financially stable retirement era have recently surged. Individuals nearing their golden years must reevaluate their savings strategy as new figures emerge, shedding light on the increased fiscal demands expected in retirement due to steadfast economic pressures. - read more
Revamped Funding Plan for NSW Emergency Services in Pipeline Revamped Funding Plan for NSW Emergency Services in Pipeline
Sat, 16 Mar: New legislation put forth by the New South Wales Government is poised to transform the method by which emergency services are financed, marking a potential shift away from the current Emergency Services Levy (ESL). Treasurer Daniel Mookhey is slated to gain access to anonymized insurance policy data—a critical step that the state believes is necessary for crafting a more balanced and effective funding model. - read more
Australian Workers Navigate Multiple Employment: A Financial Guide Australian Workers Navigate Multiple Employment: A Financial Guide
Sat, 16 Mar: In unprecedented numbers, Australians find themselves juggling more than one job, with the latest Australian Bureau of Statistics figures showing an all-time high of 970,700 individuals managing multiple employment roles. Australians have increasingly adopted various job roles, pushing the multiple job-holding rate to 6.7 percent among the workforce. This reflects a wave of job diversification that remains consistent, as noted by ABS's head of labour statistics, Bjorn Jarvis, citing steadiness in multi-job holding since late 2022. - read more
A Decade of MySuper: Analyzing the Impact on Australia’s Superannuation Landscape A Decade of MySuper: Analyzing the Impact on Australia’s Superannuation Landscape
Fri, 15 Mar: A landmark review spanning a decade since the inception of MySuper offers insights into its real beneficiaries, suggesting a significant victory for regulatory bodies while providing members with the perk of declining fees. - read more
Government Inquiry Advances into Post-Flood Insurance Practices Government Inquiry Advances into Post-Flood Insurance Practices
Fri, 15 Mar: The progression of the governmental examination into the insurance aftermath of the 2022 flood cataclysms stands as a testament to proactive federal engagement. With a series of consultative meetings already under its belt, the House of Representatives Standing Committee on Economics is broadening its scope to include direct dialogue with the victims of these unparalleled events. - read more
New Mortgage Rate Shifts at Ubank Preempt RBA Decision New Mortgage Rate Shifts at Ubank Preempt RBA Decision
Fri, 15 Mar: Ahead of the Reserve Bank of Australia's (RBA) anticipated meeting, Ubank, a subsidiary of the National Australia Bank, has adjusted its interest rates on home loans. While the RBA paused rate increases at the previous meeting, Ubank made a proactive move, updating its financial products' pricing last Thursday, much to the surprise of borrowers. - read more
Australian Government Announces Significant Tariff Cuts to Aid Businesses and Households Australian Government Announces Significant Tariff Cuts to Aid Businesses and Households
Fri, 15 Mar: The landscape of Australian trade is poised to undergo a transformative shift with the government's decision to eliminate close to 500 import tariffs, marking this development as the most extensive tariff removal initiative in over 20 years. The new policy, which is set to commence from July 1, promises to alleviate some of the financial burdens both for businesses and consumers. - read more
Home Loan Strain Intensifies for Aussie Households Home Loan Strain Intensifies for Aussie Households
Thu, 14 Mar: Mortgage payments have risen to unprecedented levels, occupying nearly half of the average Australian family's income, according to a new analysis bringing the issue of housing affordability to the fore. - read more
Vehicle Owner Triumphant in Complex Insurance Claim Dispute Vehicle Owner Triumphant in Complex Insurance Claim Dispute
Thu, 14 Mar: An individual has successfully contested an insurance firm's refusal to honor a claim for his automobile, which was crushed under contentious circumstances. The vehicle, left with a relative known as JS while the owner relocated, was subsequently involved in an accident by another family member, leading to a complicated insurance dispute centering around the definition of 'theft.' - read more
New Heights for Retirees' Cost of Living New Heights for Retirees' Cost of Living
Thu, 14 Mar: The recent update from The Association of Superannuation Funds of Australia (ASFA) indicates an unprecedented peak in annual living costs for retirees. As of the close of the December 2023 quarter, findings suggest that couples now require $72,148 annually, while single retirees need $51,278 to maintain a comfortable standard of living. - read more
Mounting Debts Trouble Small Business Amid Financial Squeeze Mounting Debts Trouble Small Business Amid Financial Squeeze
Wed, 13 Mar: As economic challenges mount, small and medium-sized enterprises (SMEs) find themselves navigating a rising tide of unpaid invoices, signaling a potential wave of insolvencies in various sectors. Recent analysis from a well-regarded financial monitoring agency has unveiled concerning trends for businesses grappling with increased costs and shrinking profit margins. - read more
In-Depth Study Challenges Super Withdrawal for Housing Scheme In-Depth Study Challenges Super Withdrawal for Housing Scheme
Wed, 13 Mar: In the realm of Australian economics, a contentious debate has risen surrounding the utilization of superannuation funds for procuring real estate deposits. The Super Members Council (SMC), a dominant industry consortium, has introduced a study whose findings cast doubt on propositions endorsed by certain Coalition lawmakers that advocate for this financial strategy. - read more
'Finfluencers' Reshape Financial Guidance for Young Australians 'Finfluencers' Reshape Financial Guidance for Young Australians
Wed, 13 Mar: Emerging trends indicate a significant shift in financial guidance consumption among Australians, fueled by the growing influence of financial content creators on social media platforms, commonly known as 'finfluencers.' This development is gaining ground among younger populations, particularly Generation Z, who are turning to these online personalities for financial insights and recommendations. - read more
Austrialian Suburbs See Surge in Property Cash Buys Austrialian Suburbs See Surge in Property Cash Buys
Wed, 13 Mar: Leading the property market down under, affluent Australian suburbs such as Surfers Paradise, Mosman, and the heart of Melbourne are witnessing an upward trend in real estate cash purchases. Fresh insights from data unveiled by PEXA indicate a substantial shift in how homes are being bought in key Eastern coastal markets. - read more
Industry Pushback: Super Funds Call for Cyber Incident Reporting Flexibility Industry Pushback: Super Funds Call for Cyber Incident Reporting Flexibility
Tue, 12 Mar: Superannuation funds are voicing concerns over proposed cyber security legislation, emphasizing the necessity for a balanced approach to incident reporting. The funds advocate for clear distinctions between minor events and those significant enough to alert the Australian Prudential Regulation Authority (APRA). - read more
Top Concerns for Australian Insurers: Cyber Risks Lead the Pack Top Concerns for Australian Insurers: Cyber Risks Lead the Pack
Tue, 12 Mar: In the competitive world of insurance, Australian companies have pinpointed cyber threats as their primary concern, outranking regulatory challenges and the effects of climate change. This insight is delivered through a comprehensive survey steered by the renowned consultancy firm PwC, which is released every two years. - read more
Australian Housing Markets Defy Pandemic Odds with Robust Growth Australian Housing Markets Defy Pandemic Odds with Robust Growth
Tue, 12 Mar: Amidst the uncertainty unleashed by COVID-19, the Australian housing sector displayed remarkable resilience, with average property values experiencing a striking surge. A newly released report spotlights this surprising uptrend, revealing an astonishing $188,000 leap in median house prices across the nation from the pandemic's inception in 2020. - read more
SMSFs Bridge Super Gap, Setting Precedent in Equalizing Retirement Savings SMSFs Bridge Super Gap, Setting Precedent in Equalizing Retirement Savings
Mon, 11 Mar: As the conversation around gender equity in retirement savings gains traction, Self-Managed Superannuation Funds (SMSFs) are stepping up as frontrunners in narrowing the superannuation balance gap between genders. Their progress surpasses the efforts seen within funds regulated by the Australian Prudential Regulation Authority (APRA). - read more
Australian Mortgage Holders: Captives to the Interest Wave Australian Mortgage Holders: Captives to the Interest Wave
Mon, 11 Mar: Recent analysis highlights that Australian homeowners are experiencing a significant financial strain due to the spiking mortgage interest rates. Alongside global trends, Australia has experienced a surge in the cost of new housing loans, reaching an average that aligns with other advanced economies. - read more
Super Tax Loophole Linked to Spiraling House Prices Super Tax Loophole Linked to Spiraling House Prices
Sun, 10 Mar: Insight into superannuation policies highlights how current tax advantages may be escalating the difficulties of securing affordable housing. This connection is revealed by David Hartley, prior Chief Investment Officer of SunSuper, who meticulously charted the increase in housing prices relative to income starting from the year 2000, attributing this trend to the superannuation tax scheme in place. - read more