Noel Whittaker's Blog By Noel Whittaker
New superannuation laws take effect on 1 July, and they have huge implications for any of you who have life insurance inside your super fund. From that date superannuation funds will be prohibited from providing insurance cover to a member whose super account is inactive, unless that member elects to keep their cover. For the …
With interest rates trending down, I am regularly being asked whether it’s better to buy shares or to focus on paying off the mortgage. The following email is typical. “You have often written that the optimum repayment on a housing loan is $900 per month for every $100000 of mortgage. I am trying to figure out …
The election is getting close, and we are being bombarded with competing policies – Labor is pushing one which is indefensible. They intend to stop employees claiming a tax deduction for voluntary superannuation contributions. Until recently people were prohibited from claiming a tax deduction for additional personal concessional contributions if an employer was contributing for …
Recently a reader asked my advice about a situation which is becoming commonplace. She and her husband were homeowners receiving the full aged pension and he was suffering bad health. He went into respite early in February while waiting for a nursing home place which came fairly quickly. He passed away early in April. Her …
A fundamental principle is to take advice before you undertake any significant financial transactions. Recently, I was told about a widow who decided to move in with her son and his wife in what could loosely be called a “granny flat” arrangement. There was nothing to be built – she handed over $400,000 to her …