Basically just want to check that I understand the scheme correctly before upping my super contributions.

After doing a determination through ATO, I currently have ~$12k accessible through the scheme. This is from salary sacrificing small amounts dating back to 2021.

If I sacrifice another $38k to reach the 50k cap over the next 2-3 years (and assuming I don't contribute over $15k a year) will all $50k (minus tax) be accessible to use for a first home deposit?

My understanding is that it will all be accessible, but I'm just wary of contributing to super and having it stuck in there.

Apologies if this is a bit convoluted or unclear!

Hey all

Im new to AMEX and looking for places/types of places that take AMEX without charging a fee.

Seems like everywhere slaps on an extra fee besides supermarkets & retail shops like myer/david jones.

TYIA! :)

Hi, I work via ABN and bill my customers at about 100k a year. Then I pay myself wages and super, the comps pay taxes every quarter.

I was thinking of legally minimising my individual taxes. I understand there is an annual limit on voluntarily Super contributions at about 27k. But can I also up my super percentage the company pays me? I.e. setting my super of 50% instead of standard 11%, received less wages, paying less taxes. Will this be legal? Will this eat into 27k annual limit? Or 27k can be contributed on top?

Thanks

So my partner and I are at odds about how best to grow our money going into the future.

For starters we’ve got a mortgage to pay down which we’re doing aggressively and should be able to meet that goal in the next 2-3 years just in time for us to think about growing some more savings and start family planning.

I think that perhaps it’s a good idea to start investing in ETFs but he doesn’t think it’s sensible to divide our income streams and delay paying off the mortgage while I think it might be better to have a stream of passive income.

Can anyone help explain to me the pros and cons of both approaches? I’m totally open to being wrong

How much do you plan to have in your super?

Hi all, I came into some money via inheritance a couple of years ago now and I wanted to ensure I was using it responsibly, so I contracted a financial advisor to create and implement a strategy for me. I've always wanted to retire early and don't spend a lot of money, so they suggested an investment bond due to the tax benefits.

However, reading the personal finance Australia site in the pinned resources, it seems that these are actually not all they're cracked up to be unless you're making extremely large amounts of money, and even then it's questionable.

The bond I have is a GenLife bond and will be in its 5th year in April, with a balance of about 230k. If I understand correctly, selling before the 10th year means I'll have to pay CGT without concession as well as the tax that was already paid on the bond. So I'm wondering whether I should: 1. Sell the bond contents and eat the CGT without concession, and move the funds into a cheaper direct holding of VDHG (which is the whole contents of the bond anyway) 2. Take the L on the fees and keep the bond until year 10, then sell once the tax benefits materialise and move into VDHG at that time.

I'm leaning towards 2 as I don't see how I could end up saving more over the next 5 years by selling early but maybe you guys know some secret trick I don't? Only other option I have at present is to speak to my accountant and I don't know whether he'll have much idea, seems more the domain of a financial advisor.

Hey all decided to swap to passive from active managed super. I want to go eith a 70/30 INT to Aus shares mix. When it comes to hedged and unhedged there seems to be pros and cons for both. I want to set just and forget. is it worth Just doing all hedged to reduce some volatility or a 50/50? Or similair split.

If it would be beneficial to check every now and then what should I base this on/look for. It seems to be based on coversion currency? (I could be way off and wouldnt be surprised lol)

What are your mixs and of course if you dont mind sharing any resources I could learn more.

Thanks

I'm 25 and looking at purchasing a property, I have officially got over half my deposit saved (so excited!) and have a good paying job (90k) but getting a pay rise in September. I'm not looking to buy in the city as I live more regional.

What are some tips on how to get a house as a single person? Is it harder to get a loan? Any advice?

We have property but we don’t currently live in it. We have rented it out and living in rental ourselves. We may go back in couple of years, or decide to sell it and buy an another.

The property is 100% offset so all rental income is getting taxed. My partner is risk averse so most they will agree is invest in Balance portfolio. What are my other options to reduce tax while not risking my money?

What would be some subtle hints or clues that someone is lying or faking about how much they’re actually making when they really aren’t?

Hey AusFinance.

My parents are both reaching retirement age. Any sort of major healthcare expense would likely fall on me.

Is it worth getting them hospital insurance or does the Australian healthcare system take care of its citizens enough such that it is not really necessary?

From what I've read so far, private hospital cover would be redundant for emergency surgeries as the public system would take care of it, however I am worried about any non-life threatening conditions that significantly reduce quality of life and would be considered an elective procedure under the Australian healthcare system.

Is there anything else I am missing?

Any advice would be appreciated. Thank you!

I’m very confused between these 3 ETFs. I want coverage of the US market, and the global market. VGS and IVV appear to have a lot of overlap, while I don’t see overlap between those two and IVE (at least in the top 10). However, when looking at regions covered trying to compare them, it’s telling me IVE gives me greater exposure to the US market than VGS, which is the opposite of why I’m considering something like VGS and IVE or IVV and IVE. I’m trying to get:

1 focused on US market 1 focused on global market (not ex US but with a focus on international)

SO

Is it better to hold:

VGS & IVE Or IVV $ IVE Or VGS & IVV Or Just VGS or IVE (just 1 total)

This is in addition to holding an aus 200 ETF.

Hi people! I am about to purchase my first. I have around 15% of deposit saved and was wondering the next. We all know about FHSS, and how we are able to contribute extra to our super and then pull out those contributions for deposit. Additionally, we can put extra contributions for previous years too (I think it goes 5y back right?). I know max contribution for FHSS per year to pull out is 15k. Now my question is, can I contribute all 15k for past 5 years (for each year) so something like 75k this week, and then reduce my Tax (get some money back as refund at EOFY) and then "walk"into bank second week and say that I will be using that 75k of extra contributions for deposit?

Does this make sense? and is it doable?

I’m likely going to accept a severance payment next month. I’m wondering if this will be taxed according to my marginal bracket? I understand genuine redundancy is taxed differently, but as my case is performance related I’m less hopeful. I suppose just have to cop it?

I released my super twice in a 4 month period under financial hardship with 2 different super funds, will they not check till end of financial year?

Is this a good strategy for someone who has given up on owning a house here? I can speak the language of the country i want to move to and have connections there (40m)

So like I said, I’m new. I like to think I’ve done some research and have come up with what I think is a sound strategy, but am a total n00b and looking for feedback or suggestions. Main goal is ‘savings’ - fortnightly deposits into each of the below for the long term (10+ years). Looking for low fees, minimal overlap between ETFs and a broad spectrum so I’m not overexposed to risk (particularly with the uncertainty of Trump about to take office in the US). So here goes:

1) IOZ 2) IVV 3) VEU

Idea would be to have 33% of my portfolio in each but any suggestions in that regard would be welcomed!

Currently I hold IOO also, thinking of keeping that but not investing any more and moving all future deposits (for that particular component) to IVV instead.

So have at it! Is this dumb?

Trump is sworn in soon where he will likely start making crazy statements about tariffs and deporting low wage (== efficient) workers.

Following on from there he's going to start abusing Canada and Europe. Why? I don't know.

What does this all mean for Aus - 1mo, 3mo, 6mo, 12mo out?

Before anyone says anything, yes, I know I should be speaking to an accountant/solicitor etc.

But I figured, I'd get a headstart and start researching.

I've got a considerable amount of money I've been holding onto for my young child. It's just tied up in HISAs at the moment. But I'd like to start investing it, and also putting more of my money with it.

We're just about to finish paying off our PPOR so will have about $100K+/year to start investing.

So here's my question:

I set up a family trust in 2017, but I never got around to opening a bank account for it. It has the whole folder, with paperwork, and I can see an ABN and TFN in there for it. And there's $10 paperclipped to one of the pages. It all looks legit, was set up through my accountant at the time and should have been done correctly.

I am wanting to set up a bank account for it this week, as I'm expecting some more money for my daughter from overseas and just want it to go straight into the trust.

If I haven't done anything with it or lodged any tax returns etc. would it still be active?

TLDR: I have a job interview tomorrow but have not received any conformation or any information not even an address help please.

Hi, M 21 I applied to this job advertisement last Sunday via Seek.

It says it from a company called "The Progress Faculty" which seems great and all, after I applied the next day I got a call from a lady saying she was from the company and after our conversation I was offered an interview, I accepted and chose Monday January 13th (tomorrow) I was told I would receive some kind of conformation later in the week, which I have not received.

Now after looking online I cannot even find an address for the company, it isn't listed on their website or Google Maps.

The phone number I was contacted by seems to be from another company Harver, which seems to do the exact same thing, which another company HYPA which does have a Richmond address listed and also has years of bad reviews (just search for "HYPA group reddit")

What do I do? The more I search it seems dodgier and dodgier. TIA

What are your predictions for the next rate announcement in feb? And reasons ?

I was talking to a friend about credit cards, and he said he sets his repayments to a day before the due date, he said it was just habit as usually sees the statement a day before.

I'm currently assisting my brother-in-law with sorting out their finances. He has a lot of debt whioch we have worked through over last 6 weeks.

I have paid off all his afterpay / zip accounts and have confirmed they are now closed (nearly 10k)

He has left as follows:

- 80k credit card (CC) debt across 5 different lenders.

- 2.5k through a lender called Humm.

He is employed as a business manager (marketing) in a large business and has been there nearly 20yrs, earning 200k per annum before tax. Rents, and has a wife and 2 children.

He came to me as he is embarrassed as how things have gotten out of control. I am not here looking for further judgment about him, I think he has been through enough of late and I care for them and only want to help them out.

I'm guessing his credit rating is crap as although not in arrears seems to manually pay his monthly credit card accounts (minimum payment) but always late (almost randomly looking at his statements).

I cannot personally afford to bail him out any further.

What upsets me is he seems to paying circa $1500 month in interest on the CC's - however I'm guessing no one would touch him from a debt consolidation perspective?

So - does he have any options? One payment, one loan I thinnk would be ideal however I cannot see a way to make this happen. I am also unable to provide him with gaurantor support as am reserving this for my older children.

My car was recently written off and I’m financing approx. $25k for a replacement, second hand car. My mortgage is currently with P&N and their rate for an unsecured car loan is 9.99%. Is it worth speaking to my broker to see if we can get a reduced rate, or should I just shop around and see who can offer the lowest rate? Or am I better off going with the finance that a dealership recommends? Apologies if these seem like stupid questions, I’ve never financed a car before so not sure the best way to go about it. Thanks in advance!