The Higher Education Loan Program (HELP) is a government initiative designed to make tertiary education accessible for all Australian citizens. With the continual rise of education costs, HELP breaks down the financial barrier to allow more individuals to undertake professional and self development through formal education. Application for HELP is free, and the loan isRead more…
Sometimes the distinction between a hobby and a business can be confusing when you want to determine the nature of your income-generating activities. It is important to establish whether you have a hobby or a business as each classification has different regulatory and tax implications. What might have started as a hobby can turn intoRead more…
Holidays give you the chance to take a break from daily life and explore this wonderful world around us. Planning ahead and saving regularly lets you experience travel more often. If you are worried about your credit card balance when you are on holidays, it can spoil your trip – and then you have aRead more…
Getting audited by the ATO is a stressful and intimidating process. The best way to mitigate this problem is to take appropriate measures to prevent it from happening in the first place. When the ATO recognises you or your business as a compliance risk, you will get notified of a tax review. The purpose ofRead more…
As a business owner, you insure your premises, vehicles, and products yet you may overlook insurance for yourself, your business partner and key staff against injuries, illness, and death. Have you ever thought about how your business would cope without you? How would you cope without income protection? What would happen to your business if youRead more…
The impact of a marriage breakdown can be stressful and financially traumatic for both partners. When you separate, the income that supports one home now has to support two. The separation process can rapidly deplete savings and assets. You can alleviate some of the stress by tackling your top priorities first. Being prepared will helpRead more…
Going through a divorce is difficult. There is the emotional pressure from a family breakdown along with the stress from dealing with the financial impact of the divorce. If you’re a business owner, you’ll likely be wondering what impact the divorce will have on your business. Whether you run a small business or a largeRead more…
Many of us have a glamourous vision of our retirement. Whether it’s fishing or playing golf every day, or cruising the Mediterranean Sea, the most important question to ask ourselves is exactly how much do we really need to achieve our retirement dreams. A common figure you probably have heard is you need a millionRead more…
The sharing economy has provided many new opportunities for everyday Australians to generate extra income. Airbnb is one of the popular online platforms that enable users to rent out their homes for short periods to other members of the community. Many individuals are keen to participate as Airbnb hosts, and they see this as aRead more…
The future of work is already changing. The growing trend of the gig economy will continue as many Australians are swapping the traditional 9 to 5 job for a more flexible style of employment. The gig economy refers to a way of working that is based on people getting paid for completing individual projects orRead more…