End of Financial Year or June 30 (as it’s commonly referred to) looms, and pressure starts to build. For many Australians, it’s a time of frantic document gathering. There’s also a sense of dread about the tax bill to come. But what if you could change that narrative? What if End of Financial Year became a moment of empowerment, a chance to take control of your financial future? With a bit of forward thinking and the proper guidance, it absolutely can be. This isn’t just about compliance; it’s about making your money work smarter for you.

A Financial Adviser’s Guide to Smart End of Financial Year Planning

This article will unpack why End of Financial Year planning is important for your finances. It will explore how a good financial advisor can be your best asset in this process. Finally, it will detail how the landscape of financial advice has been reshaped for the better by the Future of Financial Advice (FOFA) reforms.

Retirement. For many, the word conjures images of leisurely days, exotic travels, and the freedom to finally pursue long-held passions. But for a startling number of Australians, the prospect of their golden years is clouded by financial anxiety. A recent UniSuper study found that over 90% of us are worried about retirement, with money being the top concern for nearly half [1]. This widespread apprehension isn’t unfounded; it’s often the result of a few common, and entirely avoidable, missteps in the retirement planning journey.

Retirement Planning: Your Roadmap to Financial Freedom

This isn’t just another article about saving for retirement. It’s a practical guide to help you sidestep the ten most common blunders that can seriously dent your retirement savings. We’ll break down the retirement planning process into simple, manageable steps and give you the tools and knowledge to build a future you can look forward to with genuine excitement, not trepidation.

Navigating the complexities of personal finance can often feel like sailing in uncharted waters, and this includes finding a financial adviser. From managing daily budgets to planning for long-term goals like retirement, the journey is fraught with decisions that can have a lasting impact on your financial well-being. In Australia, the financial landscape is further shaped by a dynamic regulatory environment and a fluctuating number of professionals available to offer guidance. This article serves as your comprehensive guide to finding a good financial adviser, demystifying their role, and empowering you to make an informed choice that aligns with your personal financial journey.

The Shifting Tides of Financial Advice in Australia

The Australian financial advice industry has undergone a significant transformation in recent years. Following the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, the sector has seen a dramatic shift in regulations and a notable decline in the number of registered advisers.

Deciding whether or not to set up an SMSF is a significant financial decision that should not be taken lightly. Before you take the plunge, it’s essential to consider your personal circumstances carefully and whether you have the time, expertise, and commitment to manage your own super fund. Here are some key questions to ask yourself:

• Do you have the time and commitment? As we’ve seen, running an SMSF is a significant time commitment. You need to be prepared to spend a considerable amount of time on research, administration, and compliance. If you’re not prepared to put in the hard yards, an SMSF is probably not the right option for you.
• Do you have the financial and legal knowledge? You don’t need to be a financial expert to run an SMSF. Still, you do need to have a good understanding of financial markets, investment principles, and the laws that govern superannuation. If you’re not confident in your ability to manage your own investments and comply with the law, you should seek professional advice before setting up an SMSF.
• Is your super balance large enough? While there is no legal minimum balance for an SMSF, the costs of setting up and running a fund can be high. If your balance is too small, these costs will eat into your returns and you may be better off in a traditional super fund. As a general rule of thumb, many experts suggest that you should have at least $200,000 in super before you consider setting up an SMSF.
• Are you comfortable with the risks? With an SMSF, you are personally responsible for all investment decisions and the government’s compensation scheme does not cover you. You need to be comfortable with the risks involved and be prepared to accept the consequences of your decisions.

“Total and Permanent Disability Insurance” is designed to relieve financial pressure in case you become permanently disabled as a result of illness or injury.

The statistics paint a sobering picture: approximately 9 million Australians currently hold Total and Permanent Disability (TPD) insurance, yet many remain underinsured or completely unaware of what their policies actually cover.

The harsh reality is that permanent disability doesn’t discriminate. Whether you’re a 25-year-old tradesperson or a 45-year-old office manager, the risk exists. What’s more concerning is that many Australians discover the gaps in their coverage only when it’s too late to address them. This article examines why TPD insurance deserves serious consideration in every working person’s financial planning strategy, backed by current industry data and regulatory insights.

Understanding TPD Insurance: More Than Just a Safety Net

Total and Permanent Disability insurance provides a lump sum payment when you become permanently unable to work due to illness or injury. However, the devil lies in the details of what “permanently disabled” actually means. According to the Australian Securities and Investments Commission (ASIC), each insurer maintains different definitions of total and permanent disability, creating a complex landscape that requires careful navigation [1].

An unexpected critical illness or accident that results in the breadwinner being unable to work can have a devastating effect on a family, especially when the breadwinner does not have Trauma Insurance. I’ve witnessed firsthand the devastating financial impact that critical illnesses can have on families. While most working Australians understand the importance of health insurance and income protection, there’s one crucial safety net that remains significantly under-utilised: trauma insurance. The statistics paint a sobering picture that every working Australian should understand.

The Harsh Reality of Critical Illness in Australia

The numbers don’t lie, and they should concern every working Australian. Each year, more than 150,000 Australians receive a cancer diagnosis [1]. Cardiovascular disease affects over 1.2 million Australians, often leading to heart attacks [1]. Additionally, more than 350,000 Australians suffer strokes annually, with over one-third experiencing at least one permanent impairment as a result [1]. These aren’t distant statistics – they represent real people whose lives and financial security were turned upside down in an instant.

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.