Noel Whittaker's Blog
By Noel Whittaker
The federal government has introduced a wide range of stimulus measures in the aftermath of COVID-19, but one group that appears to be overlooked is self-funded retirees. However, if they know the way the system works, there is still one strategy that may be well worth pursuing. That is to apply for a Commonwealth Seniors …
It’s important to have an updated and valid will, but many people don’t understand that certain assets fall outside the will. These include money in superannuation, insurance bonds, and assets held as joint tenants. Joint tenancies are known in law as “will substitutes”, inasmuch as they take the place of a will and even have …
Australia is facing challenging times on all fronts, but one sector of the economy is facing particularly tough times. Since COVID-19 struck, the federal government has committed more than $545m in funding to support home care and residential aged care providers, and the government’s My Aged Care service. Unfortunately, even that is going to fall …
Recently, during a talkback radio program, a listener aged 50 who owns a negatively geared investment property, asked me if they should sign a PAYG variation form to enable the tax savings that would be generated by the investment losses to reduce the tax on their fortnightly salary. The tax savings, in this case, amounted …
For years I have urging borrowers to get ahead in their loan repayments, not only to provide a safety buffer if interest rates rise or they suffer financial stress, but also to save a fortune in interest. I was horrified when a Commonwealth Bank client sent me an email they had received which read: “We’re …