Are you anticipating a large tax bill this year? Nobody gets excited about the prospect of sharing too much of their hard-earned money with the government! There are a few ways to reduce your bill and these are worth considering as you plan for the end of the financial year. If your circumstances are complex its always wise to get advice to ensure you are maximising your situation, whilst staying compliant.
Treasurer Jim Chalmers handed down the 2025-2026 Federal Budget this week, outlining a fiscal plan focused on cost-of-living relief, housing affordability, and economic stability.
With an upcoming federal election, the Budget delivers targeted support, but does leave several key tax reform issues unresolved. The key message is that while Australia’s economy remains resilient, challenges persist.
Trump’s early weeks in office have been marked by a raft of tariffs including 25% on Australian steel and aluminium imports. Canada and Mexico have also been hit with 25% tariffs on everything except energy (which is 10%) and he has imposed a 10% tariff on China. Since then, Trump has agreed to a one-month delay on the tariffs to Canada and Mexico subject to border and drug conditions. With Governments around the world responding in a multitude of ways, the uncertainty and threat of more tariffs means market volatility will likely remain high. What does this mean for Australia?
For many people thinking about money feels intimidating, stressful, or even boring! BUT taking a bit of time out to put your financial foundations in place will provide you with enormous peace of mind and a map for your future security. It may also help you weather any unexpected financial hiccups if they arise.
