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When a person moves into residential aged care this may leave their home vacant or available as an investment property, and land tax may start to apply to the former home.
The rules and rates of land tax vary in each State or Territory. In most cases, land tax is based on the value of land only (not buildings). Some states calculate land tax on a calendar year, others calculate on a financial year. Land Tax does not apply at all in the Northern Territory (NT).
Country to Canberra is empowering young rural women to reach their leadership potential. As a Future2 Ambassador and a regular participant in the annual Future2 Wheel Classic – having already cycled in seven rides – the managing director of Canberra-based Phillips Wealth Partners, Craig Phillips has been fortunate to see first-hand some of the inspiring work Future2 is doing with disadvantaged young Australians.
Chris Lioutas writes "It is fair to say that we finally have alignment between markets and economics with both in a state of flux at present. The alignment could be short-lived (in either direction), or it could be the status quo for the remainder of the year given the uncertainties that lie ahead".
This week the government announced a new emergency leave provision for permanent residential care. Residents who choose to temporarily live with family for the duration of the COVID-19 crisis will continue to have the normal government subsidies paid on their behalf, and won’t be deemed to have used their social leave entitlements.
Whilst these are all admirable and proven ways to reduce CO2 emissions, switching your investment portfolio to sustainable funds is one of the more effective ways individuals can help to promote a more sustainable planet.
As announced by the Federal Government, Commonwealth Home Support Programme (CHSP) service providers are now able to use unspent 2019 20 funding to purchase up to $1000 worth of personal monitoring technology for their vulnerable clients in need of this support during COVID-19.
Keep your finances organised from property and bank accounts to loan repayments, insurance, and estate planning, connect all aspects of your financial world in one place.
Following the recent National Cabinet meeting, the PM stated that “it is not acceptable, fair or compassionate for any residential aged care facilities to ban visits from carers and families.”
A number of measures have been announced to support Australians and the economy in response to the Coronavirus. We have put together some information to summarise the key measures and to assist you in understanding the help that could be available to you.
The Government is helping retirees to manage the impact of volatility in financial markets on their retirement savings by temporarily reducing superannuation minimum drawdown requirements.
The Australian Government has been announcing financial measures in the past week to promote continued support of small business, however, at this stage, they are announcements only and we are waiting for legislation to be passed through parliament to find out exactly how our clients may be able to access these stimulus packages.
The world is watching with concern the spread of the new COVID-19 coronavirus. The uncertainty is being felt around the globe, and it is unsettling on a personal level as well as from the perspective of how markets respond.