Why most adults should consider appointing an 'enduring attorney' to safeguard their finances
An enduring power of attorney is a formal instrument by which one person empowers another person to act on their behalf for certain legal and financial purposes (e.g. dealing with bank accounts, transferring money, paying bills, dealing with investments, or buying and selling real estate) when they are unable to manage their own affairs.
Australians at higher risk this year of being penalised for exceeding superannuation contribution limits
This year’s lower maximum limits could be a trap for unwary workers who continue to contribute to superannuation as they have in previous years. Penalties for exceeding contribution caps can be as high as 47% plus an interest charge.
Debunking the myths around tax-paid ‘investment bonds’
Investment bonds have been available for decades, but they have evolved over that time to suit the needs of modern investors. The problem is many people still remember the old-style investment bonds and think they haven’t changed.