The federal government has unveiled the most significant financial advice reforms in years, aiming to make professional guidance more affordable and accessible for Australians, particularly those preparing for retirement. For many people, this couldn’t come at a more critical time. With costs rising and fewer advisers in the industry, access to quality financial advice has…
Imagine stepping into retirement with confidence, knowing your financial future is secure—this is where a retirement financial advisor can make all the difference. At Precision Wealth Management, we pride ourselves on providing personalised financial solutions that cater to the unique needs of our clients. A recent review from one of our satisfied clients highlights our…
As we enter a new financial year, stay informed about the 2024 tax cuts and latest super changes impacting your financial planning. The upcoming adjustments, including tax cuts and increases in superannuation contributions, present new opportunities and considerations for every working Australian. Let’s dive into what these changes mean for you. Tax rate changes 2024…
Looking to retire next year? A comfortable retirement involves planning, seeking advice, and making wise financial decisions. During the Christmas break and as the new year approaches, many individuals contemplate what the upcoming year holds for them. Those nearing retirement age often ponder whether this will be the year they finally retire. Making a significant…
Planning for retirement is a crucial aspect of financial well-being, and understanding the regulations and limits surrounding retirement accounts is essential. In Australia, one limitation is the general Transfer Balance Cap (TBC), which determines the maximum amount of money that can be transferred into a tax-free retirement account from other sources. However, one of the…
Will you be affected by the new proposed $3 million-dollar super contribution cap in 2023? The Australian Government has recently proposed a new law that could impact the superannuation savings of some individuals. The proposed legislation will see balances in Superannuation above $3 million taxed an additional 15%, bringing the total tax rate to 30%. So,…
An early retirement is the dream for many Aussies but is it achievable for those of us dreaming of leisurely days spent in the garden, playing a round of golf every week, or travelling? To make early retirement a reality, careful planning and financial know-how are essential. This blog provides financial tips and strategies to…
Estate planning is a critical step in ensuring that your beneficiaries are provided for in the best possible way upon your passing. With a financial planner’s help, you can structure your estate to ensure your beneficiaries minimise their tax and receive the best possible outcome. At Precision Wealth Planning, we have seen (and heard) the…