Financial setbacks hurt. They are not uncommon and happen for many reasons. If this has happened to you or someone you know it is important to know that you can rebuild. 15 years ago, a new client appeared on our doorstep seeking advice on how to get back on his feet. We love this story as it is a pin up case study on the benefit of a financial planner and a disciplined client working together.
In recent years, the Australian government has implemented significant tax reforms aimed at providing cost of living relief to taxpayers. Most notable are the stage 3 tax cuts, which come into effect on 1 July 2024. These changes will amend personal income tax rates and thresholds, offering tax relief for all income earners.
This provides a timely juncture to review your financial plan. Get in touch with your adviser about the best solution for your individual circumstances to ensure you maximise potential benefits of these tax savings.
On Tuesday evening, the treasurer Jim Chalmers handed down his third Labor Budget. A Budget surplus of $9.3 billion is forecasted for 2023-24 which will be short-lived with an underlying cash deficit of $28.3 billion is expected in 2024-25 (and a $42.8 billion deficit for 2025-26). The Budget noted a weak and uncertain global economy where growth is forecast to remain subdued over the next few years.
With the emergence of AI, cybercrime is increasingly sophisticated and the need for vigilance can’t be overstated. Scammers are usually after your bank details, home address and personal identification details to use elsewhere. They can create havoc in your life, so it is best to be alert to the red flags, so you don’t become their next victim.
Here are the top scams to look out for in 2024:
