The Federal Government has enacted important changes to the way taxpayers are taxed on ATO interest charges. From 1 July 2025, General Interest Charge (GIC) and Shortfall Interest Charge (SIC) will no longer be tax-deductible. This represents one of the most significant reforms to ATO debt management in recent years and will materially affect individuals […]

Recent Australian Taxation Office (ATO) date, discloses that 768,537 people paid the Medicare Levy Surcharge (MLS) in the 2023 Financial Year. The ATO also confirms that there is an increase of nearly 25% on the previous year. The Medicare Levy Surcharge is an additional 1.0% to 1.5% paid by Australian taxpayers who do not have […]

Recently, I was discussing retirement with a group of retirees. This group of retirees live in Sydney and I would consider them to be, in the main, healthy individuals who have worked to age 65, own their home and paid off their mortgage, paid taxes throughout their life and had a family of between 2 […]

Why Legal Tax Minimisation Is Not an Act of Guilt — It’s Common-Sense As the late media magnate Kerry Packer once told a Senate enquiry: “I am not evading tax in any way, shape or form. Now of course I am minimising my tax — and if anybody in this country doesn’t minimise their tax, […]

Understanding how your superannuation compares to others in your age group can help you make informed decisions to boost your retirement savings. This newsletter presents the latest data from ASFA’s September 2024 report and offers tailored strategies to help you grow your superannuation balance. Average Superannuation Balances by Age and Gender Age Group Male Avg […]

The Australian Taxation Office (ATO) has just released a major update that could affect millions of Australians: over $19 billion in lost and unclaimed superannuation is currently sitting in limbo. If you’ve ever changed jobs, moved house, or opened more than one super account, some of that money could be yours. What Did the ATO […]

Should you require further information in relation to security of investment selection, please feelfree to contact Peter Quinn by submitting an enquiry or calling us on +61 2 9580 9166 to book anobligation-free appointment. The information in this document does not take into account your personal objectives, financial situation, or needs, so you should consider […]

As of July 2025, a significant proportion of Australians are concerned about not having sufficient superannuation savings for retirement. Did you know? Gender Disparities:There is a notable gender gap in superannuation balances, with women generally having lower superannuation savings compared to men. This disparity contributes to a higher percentage ofwomen expressing concern over their retirement […]

Do you earn over $45,000 per annum? If so, did you know that you are paying 32 cents tax, including the Medicare levy, for every dollar that you earn over $45,000 per annum, which essentially equates to one-third of your earnings going in income tax.  If you are earning more than $135,000 per annum, you […]

When a Saver Marries a Spender – What Every Couple Needs to Know A client recently came to me with a concern about his son, who had just married. The son is a natural saver, while his new wife is more of a spender. My client is worried—perhaps rightly—that this mismatch might lead to financial […]