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Budget 2024: Cost of living relief takes centre stage

ELIZA BAVIN  |  TUESDAY, 14 MAY 2024
Support will be boosted for Australians facing acute and urgent financial pressures with $138 million to meet sustained high demand for crisis support including emergency relief, food relief and financial support services. Treasurer Jim Chalmers announced ...

Budget 2024: Additional $11.3bn promised for housing

ELIZA BAVIN  |  TUESDAY, 14 MAY 2024
... incentivise states and territories to build more homes $5.5 billion Help to Buy scheme to help more Australians buy their own home $2.7 billion to increase Commonwealth Rent Assistance by 15% $2 billion in financing for more social and affordable rental ...

Budget 2024: Chalmers looks to reset aged care, NDIS

JAMIE WILLIAMSON  |  TUESDAY, 14 MAY 2024
... million to put the NDIS back on track. The government has said it will invest $531.4 million to offer an additional 24,100 Home Care Packages next financial year. It is also providing $87.2 million to attract nurses and other workers into aged care ...

Inflation spooks retirees more than healthcare costs

KARREN VERGARA  |  FRIDAY, 10 MAY 2024
... compounds over time," he said. To prepare for retirement, 34% of members make extra super contributions; 38% are paying off home loans; and 46% are reducing their debt. Meanwhile, the majority (68%) of retirees in Schroders' survey believe they will ...

Quality of retirement does not depend on super balance: Bragg

ELIZA BAVIN  |  FRIDAY, 10 MAY 2024
... recalibrated to assess how policy could improve retirement outcomes by letting Australians use their superannuation to purchase a home. "In the course of our inquiry, it has been made clear to the Committee that having a secure retirement depends heavily ...

SMC says 'reckless' plan could cost taxpayers $1tn

ELIZA BAVIN  |  THURSDAY, 9 MAY 2024
... across coming decades. The modelling - commissioned by the SMC - found pension costs could climb exponentially as those first home buyers start to retire with far less super and are forced to rely more heavily on the taxpayer-funded age pension. To meet ...

Litigation funder disputes AMP BOLR settlement

KARREN VERGARA  |  WEDNESDAY, 8 MAY 2024
... funder of the AMP Buyer of Last Resort (BOLR) class action is negotiating its cut of the settlement money and could take home as much as $43 million. A notice of proposed settlement from the Federal Court shows the funder, Augusta Pool 523, has already ...

ATO flags key focus areas this tax time

ELIZA BAVIN  |  MONDAY, 6 MAY 2024
... eight million people claimed a work-related deduction, and around half of those claimed a deduction related to working from home. Last year, the ATO revised the fixed rate method of calculating a working from home deduction to broaden what is included ...

Super for housing 'economically reckless': SMC

ANDREW MCKEAN  |  WEDNESDAY, 1 MAY 2024
... dramatically drive-up house prices and deplete their retirement savings. "We all desperately want more Australians to own their own home, but this idea won't achieve that - it would just make that goal even harder for first home buyers by making ...

Crescent Wealth to merge into Russell Investments

ANDREW MCKEAN  |  TUESDAY, 30 APR 2024
... they won't be identical. Salaam will introduce three new superannuation strategies, alongside a pension product and a home-finance offering. Additionally, a range of products including SMSF property finance, a Hajj savings fund, an educational fund ...
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