Wealth

Be aware that timing is everything if you want to avoid a capital gains tax hit when selling the family home.

Inherited the family home? Here’s how to avoid a big tax hit

Have you inherited the family home? You may want to cash in now and sell in a hot market, or hold on to it for a while. Be aware that timing is everything if you want to avoid a capital gains tax hit.

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The source and reason you receive funds is not considered by Centrelink in its means-testing system.

Will an asbestos-related cancer payout take away my pension?

Q+A: Are you up for a big compensation payout? If you’re a pensioner, Centrelink doesn’t care why — or from where — you get the money, as long as they know about it. And that could cost you your pension.

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Nick Bruining says there are glaring differences in service standards between financial advisers.

How to ensure your financial adviser is a legend not a lemon

MUST READ: Your Money’s Nick Bruining has been in the financial advice game for 35 years. He’s seen it all. Here’s his checklist to make sure your adviser is a legend and not just a money-sucking lemon.

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You no longer need to spend hours on hold.

Don’t spend hours on hold for Centrelink. Try this instead!

Sick and tired of spending hours waiting for Centrelink to pick up the phone and answer a simple query? We’ve got the shortcut you’ve been waiting for to get problems sorted much sooner.

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Four major Australian banks have refunded customers almost $25,000,000. Stock image

Millions of Aussies get money back from major banks

Customers are receiving a share of $25 million. Here’s why.

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A Melbourne man who started a side hustle to make some extra cash is now a millionaire at just 25 years old.
Self-managed super funds offer flexibility but the cost burden to run them can be tough to swallow. If you’re paying an accountant $5500 and have less than $900k in there, it could be time to shut it down.

Got under $900k in a SMSF? It may be time to pull the plug

Q+A: Self-managed super funds offer flexibility but the cost burden to run them can be tough to swallow. If you’re paying an accountant $5500 and have less than $900k in there, it could be time to shut it down.

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It’s a tough decision, but making the call to sell the family home to fund aged care could prove to be a huge mistake.

Why selling a family home to fund aged care is a big mistake

Mum needs to move into care. The natural inclination might be to sell up everything, including the family home, to fund a spot in a nice place with great staff. But that could be a huge mistake.

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Seniors face a $100,000 rise in aged care costs when changes take effect next year. There’s also fears the hike could create a supply shortage as families race to move parents in early to beat extra fees.

Aged-care changes could cost Mum and Dad an extra $100k each

Seniors face a $100,000 rise in aged-care costs when changes take effect next year.There’s also fears the hike could create a supply shortage as families race to move parents in early to beat extra fees.

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Ryan earns nearly $205,000 a year as the sole financial provider, and the couple has anet worthof more than $1 million. But they’re stressed about their day-to-day finances. Adobestock

Why this couple in their 40s worth $1.5m are ‘broke’

Ryan earns nearly $205,000 a year as the sole financial provider, and the couple has a net worth of more than $1 million. But they’re stressed about their day-to-day finances.

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Reserve Bank of Australia governor Michele Bullock says the central bank’s fight against inflation is not done yet.

RBA holds the line with no relief for homeowners

Interest rates are unlikely to fall in the near future, Michele Bullock says — but the RBA did not consider hiking today either.

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Video
The easiest way to buy cover will be through your employer super fund. That’s because, in most cases, there are few, if any, medical questions.

Must-know tricks to slash your family’s life insurance costs

Like many things in life, you can never have enough life insurance. The difficulty is finding the right balance between what’s needed and how much you can afford. Here’s how to cut your costs.

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In many cases, direct insurance premiums can be cheaper than group insurance schemes used by most super funds.

The ‘loyalty tax’ rip-off lurking in your insurance cover

People with established life insurance policies could be paying a hefty ‘loyalty tax’, which could be a staggering 89 per cent more than they might have otherwise been paying. Here’s why ...

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There are ways to move super out of the taxman’s clutches when it’s time to divvy it up once you’re gone.

How can I stop my kids paying the 17pc super ‘death tax’?

Q+A: Did you know your kids could be up for a 17 per cent ‘death tax’ when it’s time to divvy up your super once you’re gone? But there are ways to move it out of the taxman’s clutches. Here’s what to do ...

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More older Australians are bequeathing their money and property to their grandchildren. (Dean Lewins/AAP PHOTOS)

Grandchildren get first dibs on massive $3.5 trillion wealth transfer

More older Australians are bypassing their 'set-up' children in their wills and bequeathing their wealth to their grandchildren facing a cost-of-living crisis.

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