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Five investing tips for beginners

Here are five investing tips for those who are just beginning their investment journey. . 1. Evaluate where you’re at financially Before beginning your investment journey, it’s important to sit down and map out your financial position and goals so that you know where you are and exactly what you’re working towards. Start by looking...

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The benefits and risks of collectable super assets

While owning collectable and personal use assets inside a SMSF may sound appealing, there’s a big catch. In the grander scheme of the $889.5 billion in assets controlled by self-managed superannuation funds (SMSFs) in Australia, $591 million is sort of a drop in the ocean. In fact, it’s less than 1% of total SMSF assets....

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ATO issues warning over prohibited SMSF loans

Loans to members continue to be the highest reported contravention of the superannuation laws by SMSFs, says the ATO. The ATO claimed that these loans comprise 16 per cent of all breaches in auditor contravention reports lodged by SMSF auditors between 2019–2022. It reminded SMSF trustees that they cannot loan money or provide other forms...

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Portfolio Construction & Diversification

By: Sofie Korac, Principal Adviser Prudentia Financial Planning Pty Ltd When it comes to investing, I’m sure you have heard of the saying “don’t put all your eggs in one basket!” What does this mean and how does this translate to creating a diversified portfolio? A diversified portfolio means investing into a range of different assets...

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Why do investor returns differ from the returns reported by fund managers, exchange tradedfunds (ETFs) or index returns?

There are several reasons why actual investor returns can be different to the reported total returnson fund manager websites. Here are some common factors: Source: above illustration provided by Morningstar The gap between shareholders’ actual returns and reported total returns underscores theperils of getting caught up in the hype of funds with high-flying returns, which...

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Preparing for EOFY tax scams with business and cyber resilience

Every end of financial year (EOFY) season involves a rush by Australians wanting to get their tax returns completed. Increasingly, though, this period is seen as an opportunity for bad people to take advantage of us. . Too often the EOFY rush involves hastily clicking on links, giving personal information to the wrong person, or...

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Is it time to refinance?

Sofie has worked with a professional Mortgage Broker, Kellie Cowie, on a number of client refinancing projects with significant savings achieved! With the current rate rises, now may be a good time to review your current mortgage / debt arrangements. Examples of recent real-world refinances Kellie has obtained for clients are detailed below: 1. A...

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Approaching retirement or already retired?

Here are some changes to legislation that may impact you: —Down sizer eligibility reduced to age 55 —Home proceeds exemption and the age pension —Assistance for working age pensioners Downsizer eligibility to make super contributions reduced to age 55 From 1 January 2023, eligible individuals aged 55 years or older can choose to make a downsizer contribution...

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FAQ – Personal Risk Insurance

Frequently Asked Questions – Personal Risk Insurance Find out about what is personal risk insurance and how it works to protect you and your family when you need it most. Why should I take out life insurance? Life insurance provides financial protection to your loved ones in the event of your unexpected death. It can...

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INFLATION EDGES LOWER WHILE GDP GROWS BUT SLOWS

The latest figures from the ABS reveal economic growth last year and show inflation coming off its peak.

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ONE IN SEVEN SMSF DIRECTORS YET TO APPLY FOR ID

Speaking at the SMSF Association National Conference, ATO deputy commissioner, superannuation and employer obligations Emma Rosenzweig said around 600,000 directors of corporate trustees of SMSFs have now applied for their director ID.

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AUSTRALIAN EQUITIES RETAIN GRIP ON SMSF ASSETS

The largest portion of the SMSF investment pool is held in domestic shares, according to a recent survey.

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Reflections on 2022

As the saying goes, “what a year!” As the world slowly emerged out of Covid lockdowns, two central themes have dominated 2022, inflation and geopolitics. Domestically the annual CPI figure has exceeded 7%. It has been a similar story across most economies globally as a cocktail of years of low interest rates, central bank driven...

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The Most Valuable Brands in the World 2000 – 2022

Check out who are the biggest brands in the world.

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Federal Budget 2022: Winners and Losers

After 10 years out of government, Treasurer Jim Chalmers has delivered Labor's first budget since its election victory in May.

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Heating your home – Firewood Facts

Firewood is a sustainable way to heat a home, so let’s lay the facts on the table! FIREWOOD IS SOLAR ENERGY Trees store solar energy. It may sound strange, but allow us to break it down for you. Trees capture the sun’s energy via a process called photosynthesis. This process enables the trees to grow...

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Investment lessons of a lifetime

Widely regarded as one of the most successful investors in the world, Warren Buffett is as famous for his wit as he is for the investment skills that have put him among the world’s most wealthy people. But what can you learn from the insights that have made him so successful? On investing when the...

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Stock market update

Markets were buoyed in July by data from the US suggesting that inflation may have peaked. All asset classes enjoyed strong returns and we saw a sharp rebound in segments of the market which were previously sold down on the back of inflation fears, such as the technology sector. During the month we observed a...

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Industry Super Fund Returns – How real are they?

The average return for Industry Super Funds was -3.1% decline for the year. Given what has occurred in the past six months for listed equity and bond markets, it’s actually a good result, almost too good to be true. In fact, it may well be too good to be true.

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Have the market falls come to an end?

I have been asked this question a lot lately and wanted to provide some insight into what is occurring in the economy and then how this may impact the stock market.

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State and Federal Covid support — Aug 2022

The following links are to the latest state and federal government plans, schemes, programs, and initiatives to help businesses and individuals manage continued national hardships.

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Your guide to tax time

We’ve published a new small business tax time toolkit for 2022 to help you during tax time and throughout the year.

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Few will benefit from FBT exemption for EVs

Figures suggest the measure will reduce the cost for just a few thousand owners a year, says IPA.

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Only half of Aussies optimistic about their superannuation savings

Less than half of Australians believe their superannuation will alone be able to provide them with a comfortable retirement, according to a recent survey.

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Super, Death, and taxes

An interesting finding in the federal government’s Retirement Income Review report is that many Australians are dying with the majority of the wealth they had when they retired. Having enough superannuation to enjoy a financially comfortable lifestyle in retirement is the aspiration of most Australians. As the super system continues to mature, and with the...

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State and Federal Disaster support — July 2022

The following links are to the latest state and federal government plans, schemes, programs, and initiatives to help businesses and individuals manage the impact of yet further national hardships. Disaster resources updated 01-07-2022 We have added some new links under States and Territories that help further outline what each is offering. Let’s hope the floods...

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Cryptocurrency is to receive a lot more attention from the ATO.

The following looks at three issues. All were raised in May and the topics covered are: ATO zeroes in on crypto investments; What is needed to manager a crypto tax return; and Deductions for crypto donations run tax risks. How does the ATO treat cryptocurrency? In Australia, individuals transacting with cryptocurrency may incur tax liabilities...

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How Oil is used – Video: long but interesting

Once again Oil and its myriad by-products has been pushed to the forefront of news, global politics, and the cost of living so it seemed like a good time to remind ourselves of what Oil is all about. This video is quite long, there is a lot of detail in ‘Oil’ but it is interesting...

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State and Federal Disaster support — April 2022

The following links are to the latest state and federal government plans, schemes, programs, and initiatives to help businesses and individuals manage the impact of yet further national hardships. Disaster resources updated 01-04-2022 We have added some new links under States and Territories that help further outline what each is offering. Let’s hope the floods in...

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Market Volatility and Staying the Course

After several weeks of diplomatic tensions, over the last few days the word has watched in shock as Russia invades Ukraine. Geopolitical risks are difficult to predict and even more difficult to manage for within a portfolio context. In recent years we have seen growing tensions between China and the US, North Korea agitate, and...

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Sofie Korac is an Authorised Representative (No. 400164) of Prudentia Financial Planning Pty Ltd, AFSL 544118 and a member of the Association of Financial Advisers.

Financial Advice Sydney and the North Shore Office based in Gordon NSW

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