Author Archives: trinity_admin

The amount of superannuation needed to live comfortably has risen to a record high as the cost-of-living crisis continues to impact all Australians.

Following the release of the government’s latest Intergeneration Report there is renewed confidence that more people will see SMSFs as a more attractive option as a savings vehicle for retirement.

Of the nearly 97,000 complaints lodged with AFCA in the past 12 months, less than 5% were related to investments and advice and just under 2% were about life insurance.

A statement from the authority says consumers in dispute with financial firms lodged a record 96,987 complaints, an “unprecedented” rise of 34% on the previous financial year.

Fewer taxpayers have raced to file an early return and the total paid out in refunds is already down by $1.7 billion.

UPDATED: This budget measure waives fines for late lodgment of income, BAS and FBT returns due during the pandemic.

A growing number of Australians are downsizing their home to fund their retirement. Here's the latest data from the ATO on use of the downsizer measure.