News

The Australian Government is introducing a new superannuation tax rule known as Division 296 Tax, set to come into effect on 01 July 2025. While it’s still in draft form, it has already sparked widespread discussion, especially among high-income earners and those with substantial superannuation balances. Division 296 Tax explained simply, is an additional tax that may apply to individuals whose superannuation balances exceed a certain threshold.

It is important to note that there is a full year, from 01 July 2025 to 30 June 2026 before any tax is calculated and applied.

So, what exactly is Division 296 Tax, who will it affect, and why might it be best to wait before making any hasty decisions?

In this article, you’ll find personal insurance explained – what it is, why it matters, and how it can support you through life’s toughest moments. Many Australians are underinsured, often assuming ”it won’t happen to me.” But the truth is, unforeseen events can happen to anyone, and when they do, the financial consequences can be significant.

While it might not be the most talked-about topic, personal insurance plays a vital role in any well-rounded financial plan. It offers a safety net that helps you or your loved ones maintain financial stability in the face of life’s unexpected challenges such as illness, injury, or death.

Let’s take a closer look at the four key types of personal insurances and how they work:

You may be asking yourself ”Is property investment right for you?”  It’s a common consideration, and for good reason.

Investing in property has long been regarded as a popular and relatively stable way to build long-term wealth in Australia. The appeal lies in a combination of factors, the potential for capital growth over time, a steady stream of rental income, and a range of tax advantages that can improve the overall return on investment. Property also offers something many other investment options don’t: a tangible asset you can see and manage directly.

However, while the benefits can be significant, purchasing an investment property is not without its challenges. Like any large financial commitment, it requires careful planning, ongoing management, and a clear understanding of your financial goals. Rising interest rates, market fluctuations, and an unexpected costs can all impact your return, so it’s important to go in with a clear strategy and your eyes wide open.

Whether you’re a first-time investor or looking to expand your property portfolio, understanding what makes a successful investment is crucial. In this article, we’ll explore:

• What to look for in a quality investment property
• They key benefits and risks of property investment
• Whether an investment property suits your personal financial goals
• Tips for getting started and common mistakes to avoid

With the right planning and advice, property investment can be a powerful tool for wealth creation, but it’s not a one-size-fits-all solution.

As we rapidly approach yet another end of financial year it may be timely for you to consider a little financial “housekeeping”. We have therefore listed a few important considerations depending on your own circumstances.

Superannuation

Firstly, for many individuals Superannuation is often an important consideration at this time of year. So, let’s look at some of the important issues remembering that this may not be relevant to your personal circumstances so it’s very important that you talk to your adviser to determine if they are relevant to you.

Western Australia is heading for a turnaround.

This is the consensus from the expert panel (REIWA, CBRE, Herron Todd White & Resolve Finance) at a presentation to MFAA members on Wednesday.

Why? Due to these indicators;

• A turnaround in population growth – slow but steady
• Unemployment rates decreasing (blue line on graph below)
• New Infrastructure (train lines, road improvements)
• Mining sector turn around – new mines creating new jobs
• Migration decreasing as new jobs created in WA
• Shopping centres – redevelopment & new centres (Mandurah Forum, Belmont Forum, new centre linked to the airport, and Madora Bay).