bnhfinance

5 ways to boost your Super with contributions before EOFY

Looking to give your superannuation a boost before the end of the financial year? Look no further! Follow these five savvy strategies to maximise your contributions and make the most of your superannuation savings: Why? Because these contributions are taxed at just 15%, potentially lowering your taxable income. It’s like giving less to the taxman […]

Get ready for June 30 – NOW!

calculation with a ca;culator.

 When it comes to getting the most (money) from your annual tax return, there is usually a lot to think about, so we’ve identified a few options that could open the door to some opportunities to save on tax. The key here is to plan ahead. Deductions — lower your tax liability If you have […]

2024-25 Federal Budget Recap

In his 2024 Federal Budget speech, treasurer, Jim Chalmers, announced that ‘The number one priority of this government and this Budget is helping Australians with the cost of living’. But what exactly does that mean? Let’s take a closer look at what the 2024 Budget proposes – An average tax cut of $1,888 in 2024-25 […]

Regaining financial control after a scam

A year before retirement, Tess’s superannuation plan was on track, and she was imagining her post-work life. With savings of $34,000 at the bank, she was looking to park it somewhere it could earn better interest while rates were rising. Considering herself reasonably savvy with money, she began investigating her options. After hearing about someone […]

Avoid passing bad money habits on to your kids

Generally speaking, we Australians are pretty financially savvy, that is, we understand the how and why of effectively managing our money. Unfortunately, that doesn’t mean we’re putting that know-how into practise and making astute financial decisions. According to the Australian Bureau of Statistics (ABS), the average Australian household debt has risen by 7.3% (over $260,000) […]

Quarterly Economic Update: Jan-Mar 2024

Aerial view of houses

The first quarter of 2024 saw the Government roll out considerable changes to the Stage 3 Tax Cuts, inflation continuing to slow but remaining stubbornly high across some areas, surging stock market highs and continuing pressures in the property sector.  Government Overhauls Stage 3 Tax Cuts  In January, the Labor government unveiled changes to the […]

Is Worker’s Compensation Enough?

A worker seems in distress with tension in neck

This article sheds light on the importance of worker’s compensation and the potential gaps in coverage that individuals may face. It encourages readers to think about their own situation and consider if worker’s compensation is adequate, or if Income Protection may be required.

Charting a course to financial recovery

An adviser explaining to an old women

Australian Bureau of Statistics, (ABS) figures indicate that between 2017-2018 and 2019-2020 total average household debt rose from $190,000 to $204,000. That’s an increase of over 7% in two years! The reasons why would make for an interesting study, however a more pressing question might be what can we do about it? Combine high levels […]

What does a recession mean for me?

A women worriedly looking at grocery invoice

A recession is more than just a buzzword that gets thrown around by the media.  A recession represents a significant decline in economic activity that can span months, even years. Think of it as the winter of the economic cycle – cold, challenging, but not permanent. It’s often marked by tangible shifts in key economic […]

Building financial resilience

A couple doing numbers on laptop

Resilience is the ability to quickly recover from setbacks, and while setbacks can come in many forms most of them will have a financial component. So, what can you do to build financial resilience? Expect the unexpected Rarely do we get advance warning that something bad is about to happen to us, so the time […]