SUPERANNUATION AND DIVORCE

divorceThe big (not so nice) D word. Whilst it’s not always the greatest thing to have to go through in most cases it is the best decision for both parties but it doesn’t necessarily make it any easier.

Some people I know are currently going through the messy asset splitting stage and to be honest, I don’t envy them one bit. Whilst splitting assets can seem black and white to some degree, when you throw in emotion, and kids, things can get very grey, very quickly.

Family law treats superannuation as property that can be divided too, even if you have separate accounts. It’s important to note however that it isn’t necessarily 50/50. When deciding on fair splits, the following factors will be taken into account: Continue reading

Why comparing insurance products can be like comparing apples with oranges (or an apache helicopter)

This is a guest post from Ben Brett

helicopterIf you believe the television, getting life insurance is as easy as picking up the phone and speaking to a beautiful young telephone operator who appears to be working in one of heaven’s serviced offices. She is happy to take your call, wants to only ask you a few questions and is smiling so widely you can almost feel the hug coming down the telephone line. Sadly, as somebody who has spent many years giving complex legal advice to insurance companies, I can assure you obtaining (good) insurance is not this easy.

The process of providing insurance is a business Continue reading

A change is coming…..

I have some sad news, carabrettfinance.com will be no more shortly. Not to worry, I’ll still be doing the same finance posts over at my new site: Bounce Financial.

To subscribe over at the new site, just click the link and head on over, we’d love to have you: Bounce Financial Blog

Any questions, feedback or otherwise, feel free to send me an email on cara@bouncefinancial.com.au

I hope to see you over there!

Did you know? You are probably getting more super as we speak!

What..For those who don’t know, from 1 July (last week), the new minimum requirements for superannuation payments have increased from 9.25% to 9.5%. That means that your employers will now be paying your superannuation payments at a higher rate.

Is this a good thing? You bet it is. More money in your super is a never a bad thing.

For most people, you won’t even know about it. The payments just go directly to your super fund and at most, you might glance Continue reading

Tax offsets v Tax deductions and what you should be claiming this financial year.

TaxesGiven that it is 30 June I thought I would quickly address the difference between a tax deduction and a tax offset, and point out what you should be claiming on this financial year. I find that a lot of people get the two of these mixed up, so I’ll clarify this for you today.

A tax deduction is an amount that you reduce from your overall taxable income.

A tax offset is an amount that you reduce Continue reading

Why life insurance isn’t living a plan B life.

skydiveI read an article recently that I found somewhat offensive. I guess I can kind of relate to the gist of what the guy was trying to say, but saw it from a completely different stand point.

The idea behind the article was that you shouldn’t get any form of life insurance (ie. Death, Total and Permanent Disability, Trauma or Income Protection insurance) because you don’t want to ‘fall back’ on insurance and live your ‘Plan B’ life. Apparently the only way to live your ‘Plan A’ life, was to do it without insurance.

To me, insurance is not a Plan B. It’s not like you can Continue reading