McKinnon Financial Services RSS

How to Fund a Comfortable Retirement

Fri, 07 Jun 2024 04:36:00 +0000

As of June 2023, there were about 4.2 million retirees in Australia. The average age was just over 65, and the Age Pension was their main source of income. But are retirees living a comfortable retirement? The term ‘comfortable retirement’ is subjective. For some retirees, the Age Pension payment is sufficient to m...

Financial Advice or Financial Planning?

Thu, 25 Apr 2024 23:52:00 +0000

The term “Financial Advice” and “Financial Planning” are quite often used to describe financial services, but they are quite different.

Superannuation Downsizer Contribution

Fri, 23 Feb 2024 06:57:00 +0000

Maximise super contributions for retirement with the Downsizer Contribution strategy

Banking Plan

Mon, 04 Dec 2023 21:32:00 +0000

A Banking Plan is the key to successfully managing your finances and achieving your financial goals.

Changes to excessive surcharges on credit & debit cards - what it means to businesses & consumers

Mon, 05 Sep 2016 01:07:21 +0000

Ever booked a holiday, hotel room, concert tickets? No doubt if you paid by a credit card you may have been slugged with a fee or surcharge above the normal costs incurred by the business in providing the service. As of 1st September, 2016 a new law has been introduced prohibiting large businesses to charge excessive fees on purchas...

Net Medical Expenses Tax Offset | Phased Out

Wed, 29 May 2013 01:22:00 +0000

In the recent Federal Budget, the government has proposed to phase out the Net Medical Tax Offset, to commence 1 July 2013.

How 3.90% Finance Cost $2,622.12 More Than 8.10%

Fri, 01 Feb 2013 04:52:00 +0000

There is a lot of marketing by car manufacturers and motor dealers at present about their 'special low' Interest Rates. Unfortunately, as with most things that sound too good to be true, it usually is.

Life Insurance Review Saves $2,000

Mon, 23 May 2011 14:00:00 +0000

Most income protection policies automatically increase the amount insured each year, to help you keep pace with inflation in the event of a claim. The insurer usually sends you notification of the increase to the amount insured and the premium, but unless you (or your adviser) review the policy, all of the other details remain the same.

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No Financials Required | Car Loans

Mon, 23 May 2011 14:00:00 +0000

The vast majority of vehicle financiers now require the 2010 Financial Year statements from your business before final approval. Unfortunately, you (or your accountant) may not have finalised your 2010 accounts, which could stop you from buying or updating your vehicle before the end of the June, which is traditonally the time to take adv...

Earn Tax-Free Income

Sun, 22 May 2011 14:00:00 +0000

It's not very often that the ATO allows you to earn income without paying tax, but you can earn tax-free income from hobbies. A common example of this type of tax-free income are fees earned from refereeing social sports (e.g. touch football, netball, etc.). We have a client that earns an average of $200 per week during the season fro...

Invalid Wills | Always Check You Have What You Think You Have

Sun, 10 Apr 2011 14:00:00 +0000

We have always believed the key to successful financial planning is completing a detailed data collection. Undergoing a comprehensive audit of your current circmstances will enable us not only to provide an accurate assessment of your ability to achive your financial goals, but it also ensures you actually have what you thought you had. ...

Avoiding Delays to Family Payments in Death

Sun, 10 Apr 2011 14:00:00 +0000

Obtaining probate for a will essentially means the court is satisfied the will is the last wil...

Mortgage Exit Fees Banned

Sun, 10 Apr 2011 14:00:00 +0000

Until recently, the majority of lenders charged an exit fee if you paid out your home loan bef...

Risks With Consolidating Super

Sun, 03 Apr 2011 14:00:00 +0000

It can be difficult to keep track of all the super funds you may have collected over the years...

Increase Mortgage Borrowing Capacity

Sun, 03 Apr 2011 14:00:00 +0000

The value of obtaining comprehensive financial advice before commencing any strategy to achiev...

Use Your Super to Buy Property

Sun, 13 Mar 2011 14:00:00 +0000

Recent developments in the Self Managed Super Fund (SMSF) regulations effectively allow a SMSF...

Credit Card Interest Trap

Sun, 06 Mar 2011 14:00:00 +0000

The vast majority of credit card companies do not charge you interest for purchases (not cash ...