Now that the federal election is out of the way, and another financial year is drawing to a close, it’s a perfect time to look back at all you’ve achieved over the past 12 months and focus on a fresh start for the financial year to come.
While market volatility continued, markets largely recovered from April’s losses in May. However, the legal and economic uncertainty of US tariffs remain a key concern for global and local markets.
The end of the month saw the S&P/ASX 200 react positively at first to the news that a US federal judge had blocked the tariffs. When an appeals court temporarily stayed the tariffs hours later, a mini sell-off followed. The index has jumpstarted its way to a three-month high, not quite back to its best in February.
There was a sigh of relief all round when the Reserve Bank lowered interest rates in May by 25 basis points to 3.85%. The RBA’s move came with a caveat that, while domestic demand “appears” to be recovering and real household incomes have picked up, the outlook is unclear because of both local and international developments.
Inflation was slightly higher than expected for the 12 months to April, but it remained within the RBA’s target range and many economists are predicting another rate cut in July.
Smart moves before the financial year ends
The end of the financial year is an opportunity to optimise your financial strategy, take advantage of tax deductions, and set yourself up for the new financial year.
How the $3m super tax may affect you (and what to do next)
As the federal government moves to introduce an additional 15 per cent tax on superannuation earnings above $3 million (known as Division 296 tax), concerns and debates have emerged about the broader implications for investment strategies, retirement planning, and even the property market.
Volunteering in retirement: finding purpose, structure, and joy
Retirement might be just around the corner, or maybe you’ve recently crossed that exciting threshold. You’ve worked hard for decades, and now ready to trade in the alarm clock for leisurely mornings and to-do lists that are actually fun. But as you move into the next phase of your life; a thought might cross your mind: What now?
Be financially well organised
The more we can do to get our financial house in order and be financially well organised, the more we can reduce financial stress, promote financial wellbeing and increase our chance for a happy, healthy and productive life.
