True North

Healthy budget makes good cents

 
May 16, 2013

‘Budgeting’ has to be one of the least appealing words in our vocabulary, but if you’re looking to take control of your finances you need to budget. It’s that simple.

While most people squirm at the concept, it doesn’t have to be that painful. In fact, if done correctly, creating and sticking to a realistic budget will not only make life easier, it can help you create even more money!

Helping kids buy property

 
Feb 01, 2013

TRUE NORTH
By Ian Pepper, Penguin Financial

A RECENT survey of Australians, aged 50 and over, revealed parents give $22 billion a year to their adult children to help them get established, buy property or tide them over the tough times (Australian Institute of Family Studies July 2012).

Since property is hard to break into and there is no government assistance anymore for existing properties, parents naturally want to help their children get a start in life.

So what are the issues parents should consider; gift, loan or other?

Super idea: invest in property

 
Nov 30, 2012

Ianpepper

TRUE NORTH
By Ian Pepper, Penguin Financial

ONE of the advantages of self-managed super funds (SMSFs) is that you can invest directly in residential property through your super.

Owning a residential investment property within your SMSF can be significantly more tax effective than investing in a property in your personal name.

Compo not adequate income insurance

 
Oct 19, 2012

Ianpepper

TRUE NORTH

By Ian Pepper, Penguin Financial

IF you are relying on the Workers’ Compensation scheme as adequate cover against becoming disabled, you may be compromising the financial wellbeing of your family.

Workers compensation is designed to protect employers from employee workplace-related claims. It’s not an all-purpose income protection cover as most illnesses and injuries occur outside the workplace.

Insure for all of life's surprises

 
Aug 17, 2012

Ianpepper

TRUE NORTH

By Ian Pepper, Penguin Financial 

OUR community has been rocked by a number of heart-breaking stories recently where locals have suffered unexpected illnesses or injury.

Stroke, cancer or a heart attack can strike at any time and age or fitness don't seem to make a difference. While these events can devastate a family, it is great to see our community pull together and assist some of these residents and their families as much as possible.

Only new homes attract grants

 
Jun 29, 2012

Ianpepper

TRUE NORTH

By Ian Pepper, Penguin Financial 

THE recent NSW Government Budget made some substantial changes to the first home buyers grant.

From October 1, 2012, the $7000 First Home Owner Grant will be replaced by the $15,000 First Home Owner Grant (New Homes) Scheme.

Plan ahead for tax deductions

 
May 17, 2012

Ianpepper

TRUE NORTH

By Ian Pepper, Penguin Financial 

IT is coming up to that time of year again where we have the opportunity to increase our tax refund for the current financial year by looking into some simple strategies. However you will need to act now to make sure anything you do is implemented by June 30, 2012, and considered as a deduction.

The first strategy is to pre-pay insurance premiums that are tax deductible. For example, if you are thinking about taking out income protection, then paying the premium for 12 months prior to June 30  can result in a tax deduction for this year.

Is self-managed super right for you?

 
Apr 05, 2012

Ianpepper

TRUE NORTH

By Ian Pepper, Penguin Financial 

THERE is a lot of talk about self-managed superannuation funds and some people are even using their funds to buy property. But is this the right strategy for you?

The ATO has published a few documents to assist with your decision making. One of the guides outlines six steps to consider:

Sporting injuries can bleed finances

 
Feb 14, 2012

Ianpepper

TRUE NORTH

By Ian Pepper, Penguin Financial

IT'S that time of year again when we dig out the football boots and start running around Rex Jackson oval kicking or throwing a ball. As many of us would already know, it is easy to get injured and sometimes this can lead to extended periods off work.

What would happen if you had to stop work tomorrow? How would you survive and for how long? Being injured or ill is difficult enough, without the financial pressure of not being able to earn an income.

Is it time to fix?

 
Oct 21, 2011

Ianpepper

TRUE NORTH

By Ian Pepper, Penguin Financial

NOW is the best time to consider a fixed interest rate with growing expectations the Reserve Bank will reduce interest rates in coming months, possibly as soon as the Melbourne Cup day meeting.

As a result the lenders in Australia have been able to offer fixed rates for 1-3 years that in most cases are lower than the current variable rates.

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