With ongoing cost-of-living pressures and the possibility of further interest rate increases, many borrowers are feeling the impact of higher repayments. For some, this is being driven by changes in circumstances — such as reduced income, parental leave, illness, or unexpected expenses. Missing or delaying even one repayment can affect your credit profile and limit your options down the track.... Read more
For many years, our firm has had the privilege of supporting families across accounting, legal, wealth management, and mortgage and finance services. Over the past decade, Edney Ryan Wealth Management has experienced significant growth, while the financial advice landscape has become increasingly complex, with heightened compliance, research, and regulatory demands. It became clear that the long-term interests of our wealth... Read more
From 1 July 2026, the Federal Government will introduce Payday Super, a significant reform that will require employers to pay employees’ superannuation at the same time as wages, rather than quarterly. This represents one of the most substantial administrative changes to payroll processes in many years and will impact how businesses manage both compliance and cash flow. Under the new... Read more
You can’t help but cynically view a Federal Budget which is being delivered a few weeks ahead of an election as something of a political marketing exercise. That said, I think this fiscal plan is balanced & responsible. It clearly targets those with the greatest need. It hasn’t attacked retiree savings, and there’s no change to CGT concessions or gearing... Read more
For a Will to be valid there is a fundamental requirement that the Will maker is in the right state of mind. This is legally referred to as having ‘testamentary capacity’. Willmakers and their loved ones should understand the issues surrounding capacity to avoid disputes and ensure that assets will be distributed according to a person’s wishes. It is presumed... Read more
Home prices in Sydney have increased by 10.6 per cent over the last 12 months with a median dwelling price now more than $1.1 million (CoreLogic, March 2024). Whilst Shane Oliver argues that property in all cities is currently overvalued on the basis of the average 2.7% rental returns, he also acknowledges that house prices are unlikely to correct in... Read more
From 1 July 2024, all 13.6 million Australian taxpayers will receive a tax cut, as rates have reduced and thresholds changed. The 19 per cent tax rate will reduce to 16 per cent The 32.5 per cent tax rate will reduce to 30 per cent The threshold above which the 37 per cent tax rate applies rises from $120,000 to... Read more
From 1 July 2024, superannuation contribution caps will rise for the first time in three years following data from the ABS showing strong wages growth. Concessional Contributions · The annual concessional contribution cap is increasing from $27,500 to $30,000 from 1 July 2024. · The Superannuation Guarantee rate also increases from 11 per cent to 11.5 per cent from 1... Read more
An individual can claim an exemption from land tax on a property if it is their principal place of residence (the exemption does not apply to land owned by a company or held in a Special Trust). The general requirements for the exemption include: You can only claim one exemption per family. You can only claim one principal place of... Read more
Interest rates fell to record lows during the pandemic, which lead to a dramatic rise in fixed rate borrowing and refinancing. Many borrowers who locked in low rates for two to three years, are now coming off their fixed term onto the now much higher variable rate. This is the so called “mortgage cliff” that we are hearing about frequently... Read more