Reflection

Happy new financial year! It’s a great time to take stock and review your financial plan. Whether you’re looking to make the most of new tax cuts, changes to superannuation, or government support, understanding what’s ahead can help you stay on track and make confident decisions. Here’s a straightforward guide to the main updates and what they mean for everyday Australians.

Imagine Stephen, a skilled surgeon whose career ends overnight due to a sudden, life-changing injury. Beyond the emotional shock — grief, frustration, and uncertainty — he faces an immediate and daunting financial reality: his primary income has vanished. For many, this scenario is unthinkable, yet it’s a risk that can touch anyone. This reminds us that with proactive planning and a mix of income strategies, financial security is still within reach.

If you own an investment property, the ATO’s message for 2025 is unambiguous: get your deductions right, or expect a closer look. The error rate for rental property claims remains stubbornly high, with the ATO reporting mistakes in up to 90% of reviewed returns. This year, several areas are under particular scrutiny, not just the usual suspects, but also some new developments that property investors need to be aware of.

As the 2025 tax season approaches, the Australian Taxation Office (ATO) is sharpening its focus on individual taxpayers, particularly when it comes to deductions. With advanced data analytics and real-time reporting now central to the ATO’s compliance toolkit, the days of unchecked or poorly substantiated claims are numbered. Here’s a closer look at the red flags that could put your tax return under the microscope.

Building a comfortable retirement together takes more than just topping up your super each year. Couples who plan together and make the most of the rules can enjoy far greater financial security, and perhaps even a few more luxuries, down the track. Rather than simply aiming to even out your balances, it pays to look at the bigger picture and focus on what’s best for you as a team. In this article, you’ll find a mix of tried-and-true strategies, from straightforward contribution tweaks to more involved approaches, all updated for the latest financial years.

You’ve done the hard work—clarified your goals, considered life’s uncertainties, and structured a plan. Now it’s time to take action by walking into your adviser meeting fully prepared with the insights and examples we've covered over the past three weeks.

Life is messy, and your financial plan should be flexible enough to handle it. Career changes, relocations, and unexpected family milestones can all bring significant costs. Instead of aiming for a perfect 10-year plan, focus on one that adapts as life evolves.

A dream without a plan is just a wish. Now that you've thought about your ideal life, it's time to structure your goals so your adviser - and you - can actually work toward them. Here's the key: not all goals are created equal. Some are urgent. Some are massive. Some are nice-to-haves. Understanding this will help you (and your adviser) prioritise.

Have you ever walked into your financial adviser's office and found yourself saying, "I just want to be better off financially"? It's a common feeling - but it's also a trap. Over the coming weeks, we will provide a practical roadmap to help you clarify your financial goals, communicate effectively with financial advisers, and create a plan that's both ambitious and flexible. With realistic examples and actionable steps, you'll move from vague aspirations to clear financial direction.

Planning for retirement doesn’t have to mean putting your other financial ambitions on hold. With the right approach, you can grow your retirement nest egg while still achieving goals like homeownership, travel, or paying off debt. Here’s how you can strike that balance.