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How we think about our money dictates so many of our responses to it - and most of them are subconscious and invisible.

Now, this is not some pretend self-help article about 'positive thinking with positively no actual doing,' where you're told to sit and think yourself rich.

If that worked, the tax department wouldn't need to get people to pay their taxes; you could just 'think about' it for them instead.

#StuffYouNeedToKnow series

We all have to learn how to use financial tools to our advantage to get ahead in our financial life. 

Learning how to use key financial tools is one of the habits of wealthy people… not learning how to use those same financial tools, are often the habits of people who don’t get ahead.

Do you get paid Super on your overtime?

Well, the answer is usually no, but also that depends.

Your superannuation is your forced savings for your retirement, so it’s important to understand these two key features:

  • How much Super are you being paid?
  • How is it actually calculated when it comes to commissions, bonuses, overtime and back pay?

When is an inheritance tax not called inheritance tax?
When it's a super death payment tax of course!

Like to know more? Well, you should because this tax problem has special meaning for people with super, and adult children of people with super.

If you plan on leaving your superannuation to your now adult kids when you pass away, there's a strong possibility your super death benefit payout will be hit with tax.

Want to know if you'll be financially comfortable in retirement?

Well, first you need to have a standard of what's comfortable and what's, well ... a modest standard of living.

Thankfully, an annual assessment run by the ASFA can help you start your thinking about what you want to achieve in your retirement.

Then we can help you get there.

Getting money out of super early on compassionate grounds

Many people are unsure about whether they could get early access to some of their superannuation funds.

While this is a very complicated task (and perhaps the stuff of urban legend) it's worth setting the story straight; so you know where you stand with your super.

  • There are very limited circumstances when you can access your super early.
  • These circumstances are mainly related to specific medical conditions, severe financial hardship or compassionate grounds.

Did you know you can now claim a tax deduction for making a personal contribution into your super?

Previously, most Employees were excluded from claiming a tax deduction for their personal contributions to super.

How do you compare home loans so you find what's right for you?

That's often the $64,000 question we're asked by our clients.

So here are six keys to start your thinking.

In 2019 new NSW Tenancy Laws supporting victims of domestic violence living in a rented property came into effect.

If you live in rented accommodation and have been affected by domestic and family violence, you need to know there are new Tenancy Laws to help protect the victims of domestic violence.

These new laws have implications for property managers, property renters and investment property owners alike.

If you're looking to buy into a residential strata property, there are many new things to consider and learn.

Case Study

Terry was looking to buy a 2 bedroom home in Sydney and came to us to arrange the investment mortgage. As the property was 17 years old, there had been some renovations completed inside the unit and some repairs were still being made to the common property.

As the property was selling at auction there were a number of things to consider, particularly because Terry was buying into an existing strata plan property.

Here are some of the things we discussed.

drew browne pic

Drew Browne

Sapience Founder & Director.
Simplifying Financial Complexity

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