Nathan Ham - Financial Adviser

Tax Tip Thursday

With new financial year underway many of us are looking to get our tax sorted for the 2019/20 financial year.

Don't forget that if you made after tax contributions to your superannuation fund that you wish to claim a tax deduction for, you will need to submit a Notice of Intent to claim to your super provider.

Jump over to the ATO to find out more!

Claiming deductions for personal super contributions When and how you can claim tax deductions for personal super contributions you have made to a complying super fund or retirement savings account.

The thought behind this was from the right place, the ex*****on including checks seems to be flawed. Genuine people may have needed the boost however if these numbers are close to accurate the scheme sadly missed its mark. Think twice before accessing unless you absolutely have to.

'Most expensive pizza they've ever bought': Some super withdrawals spent on takeaway, booze and gambling Emergency access to superannuation during the COVID-19 shock triggers a spending spree for some Australians, who are splashing cash on gambling, alcohol and takeaway food rather than essential household items.

Goals are important, spend some time this weekend thinking about where you are financially and where you would like to be.

The earlier you start the easier the process will be.

Not everything is always as it seems when it comes to the returns being shown by funds.

AustralianSuper gets embarrassing downgrade on performance Australia's biggest superannuation fund has suffered an embarrassing downgrade after failing to reveal details of high staff turnover.

Great article on the importance of looking long term and staying invested. If the market movements and balace changes in your super are concerning you please reach out, always happy to discuss.

Why super and growth assets like shares have to be seen as long-term investments | AMP Capital This is an update of a note I wrote last November, but after the recent plunge in shares and the associated 10% or so loss in balanced growth superannuation funds through the March quarter, it’s particularly relevant now.