This Month
Costly tax traps for dual Australia-US citizens
Most American citizens working Down Under never have to pay tax in the United States, but they can face big penalties for failing to file a US tax return each year.
May
How do I bring a UK pension back to Australia?
A UK pension can only be moved to Australia once you turn 57, but there are things you can do in the meantime.
April
Am I foolish to invest in shares when markets are so volatile?
Donald Trump’s erratic policy statements have markets in a spin. Is the best response to stop salary sacrificing into superannuation?
How can I get around health insurance waiting periods?
Many couples are tempted to cut back on private health insurance as they get older to save money, but it can backfire if you need a knee or hip replacement.
Will we have to pay tax on an inheritance from family overseas?
You will be eligible for the 50 per cent capital gains tax discount once you’ve held the asset for more than a year.
How can I add a downsizer contribution and inheritance to super?
There is the potential to contribute a combined $1.32 million to your super fund and that of your spouse.
March
Will a loan from the bank of mum and dad cruel our mortgage plans?
A few lenders are willing to exclude a parental loan from serviceability assessments.
Should mum or dad pay for childcare?
Having a baby is a pivotal point in moving from casually pooled finances to a family money system.
We’re helping our son buy a home with his girlfriend. What if they split?
Giving your kids a hand to get on the property ladder can be complicated if there’s another party involved.
I’m a high earner. Can I use a family trust to lower my income tax?
The rules for professional services partners and high-earning employees are different when it comes to using family trusts for income.
February
We have $4m in super. How much can we safely spend each year?
Nobody knows how long they will live, which is what makes budgeting in retirement so tricky.
What’s the fairest way to give my kids money for a house deposit?
Gifting equally is likely to reduce the risk of resentment and family conflict.
November 2024
My brother died without a will. Will the government take his money?
Intestacy laws direct that the estate is to be distributed among family members, starting with partners and children.
October 2024
Financial advice is expensive – is it tax-deductible?
A change from the ATO has broadened the tax-deductibility of some financial advice fees, which should make seeing an adviser for the first time a bit cheaper.
How will the ATO view an inheritance from New Zealand?
Estate planning can be difficult for those with family ties on both sides of the Tasman.
My son is off to uni. Should I give him a credit card for emergencies?
Set clear guidelines around what constitutes an emergency. Does a late-night taxi ride home from the pub qualify?
September 2024
Can I access my super to save my business?
Using your superannuation for anything other than its intended purpose – your retirement – can be a legal minefield.
We have $360,000 in super. Are we wealthy enough for an SMSF?
There has been much debate about the appropriate dollar threshold for do-it-yourself super.
August 2024
Can I get a mortgage without a credit score?
Credit scores are a shortcut used by credit providers to assess your history in repaying debt. But what happens if you don’t have one?
Help! My parents want to invite 20 of their friends to our wedding
What to do when mum and dad help out financially but expand the guest list beyond your comfort zone.