Cube Online

AI is changing everything. Does your portfolio need to?

It can feel as if artificial intelligence (AI) makes its way into almost every conversation, and especially for investors. From headlines about trillion-dollar technology companies to predictions that entire industries will disappear, we are being bombarded with AI news, forecasts and investment themes every day.

For investors, the challenge is in determining who will ultimately capture the value and how to avoid concentrating portfolios around a handful of highly publicised winners.

The most sensible response may be the least exciting: stay diversified, invest regularly and resist the temptation to chase the latest AI headline.

Beyond the AI giants

Much of the media attention has focused on the companies developing AI models and infrastructure. These include “The Magnificent Seven” firms such as Nvidia, Microsoft, Alphabet, Apple, Amazon, Meta and Tesla, which are investing hundreds of billions of dollars into AI-related infrastructure and services.

These companies have obviously benefited from the AI boom. Nvidia, for example, has become one of the world’s most valuable companies because its graphics processing units (GPUs) power much of the world’s AI computing capacity.

But successful investing rarely comes from simply identifying a major trend. The important question is who benefits most and for how long.

History shows that new technologies often create value far beyond the companies that invent them. Railways, electricity, automobiles and the internet all reshaped economies, but the eventual winners were not always the pioneers that first captured investors’ attention and there were casualties along the way.

Categorising AI

Investors can think of AI opportunities in three broad categories.

The first category is the direct AI beneficiaries such as semiconductor manufacturers, cloud computing providers, data centre operators and AI software developers. These are the companies building the infrastructure and tools that enable AI.

The second category includes businesses that successfully use AI to strengthen their competitive advantages. These companies may not be seen as AI businesses, yet they stand to benefit significantly through higher productivity, lower costs, improved customer experiences and new revenue streams.

 The third category includes businesses that indirectly benefit from AI-driven investment. Growing demand for data centres, computing power and electricity is creating opportunities for resource companies, energy infrastructure providers, network operators and industrial businesses.

Private equity and venture capital

Investors focusing solely on listed markets may be seeing only part of the AI story.

Beyond the listed market, many of the most innovative AI businesses remain privately owned. AI companies attracted almost half of all global venture capital funding in 2025, as investors backed startups developing applications in areas such as healthcare, robotics, autonomous systems, cybersecurity and enterprise software.ⁱ

For investors with access to diversified private market investments, exposure to venture capital and private equity can provide participation in AI innovation beyond the listed market. However, these investments typically involve higher risk and reduced liquidity.

The risk of AI ‘roadkill’

Every technological revolution produces winners and losers.

During the internet boom of the late 1990s, many investors correctly identified that the internet would transform society. What they got wrong was assuming every technology company would prosper. Many failed.

As with every major technological shift, AI is likely to leave some casualties behind.

Businesses that rely on repetitive information processing, basic content creation or undifferentiated software solutions may find themselves under significant pressure. Companies whose products can be easily replicated by increasingly capable AI tools could see profit margins erode.

The challenge for investors is that identifying future casualties in advance is rarely straightforward. That’s why diversification remains so important.

Why diversification wins

The biggest investment risk may be in becoming overexposed to a small number of companies that seem to be unbeatable today.

Technology leaders change over time. Diversification acknowledges this uncertainty.

Some of the strongest beneficiaries may emerge from unexpected areas such as energy infrastructure, industrial automation, logistics, healthcare or specialised software. Others may come from venture capital and private equity portfolios that provide access to innovations before they reach public markets.

Diversification also helps investors resist the temptation to chase every new headline. In a rapidly changing AI landscape, spreading risk across sectors, asset classes and business models may prove more valuable than trying to pick every winner.

i State of Venture 2025 | CB Insights ResearchLife moves fast. Is your insurance up to speed

Life moves fast. Is your insurance up to speed?

Life rarely stands still. A new home, a growing family, a career change or the transition to retirement can all have a significant impact on your insurance needs.

Yet insurance is often one of those financial arrangements that gets filed away and forgotten. Over time, that can leave you underinsured, paying for cover you no longer need, or relying on arrangements that no longer reflect your circumstances.

That’s why it’s worth checking your insurance annually to make sure it still fits your life.

When life changes, check your cover

Many people take out insurance and then rarely look at it again. But the amount of cover that was appropriate five or ten years ago may not be suitable today.

Consider some common life events:

• Buying, building or renovating a home

• Getting married or entering a new relationship

• Having children

• Separating or divorcing

• Taking on a larger mortgage

• Starting or selling a business

• Approaching retirement

Each of these milestones can change both the level and type of insurance you need. For example, a growing family may require increased life insurance to protect loved ones financially. Conversely, someone who has paid off their mortgage and whose children are financially independent may find they need less cover than they once did.

Check your valuations

One of the most common insurance mistakes is failing to update valuations.

Property values and replacement costs have risen significantly in recent years. Construction costs, building materials and labour expenses may mean that rebuilding a home after a major loss could cost far more than expected.

The same applies to contents insurance. Think about how many valuable items may have been added to your home over time, such as electronics, furniture, jewellery, sporting equipment or appliances. A quick estimate made years ago may no longer reflect the true value of your possessions.

Business owners face similar challenges. Equipment, stock, technology and business interruption costs can all change substantially over time.

A regular review can help identify potential gaps before they become costly surprises.

Are your beneficiaries still the right people?

Life insurance and superannuation death benefit nominations deserve particular attention.

The people you intended to benefit from your insurance years ago may no longer be the people you would choose today. Marriage, divorce, the birth of children, blended families and changing personal circumstances can all affect your wishes.

Reviewing beneficiary nominations regularly helps ensure your proceeds are directed according to your current intentions rather than outdated paperwork.

This is especially important after major life events. An old nomination that no longer reflects your circumstances can create unnecessary complications and stress for loved ones at an already difficult time.

Don’t forget income protection

Many people insure their home, car and contents, yet one of their most valuable assets is often their ability to earn an income.

Income protection insurance can help replace a portion of your income if illness or injury prevents you from working. As your salary, expenses and financial commitments change, it makes sense to review whether existing cover remains appropriate.

If you’ve recently received a promotion, changed careers, become self-employed or taken on additional financial responsibilities, your current level of cover may not provide the protection you expect.

Review your premiums and policies

Insurance products evolve over time and so do premiums.

A review may reveal that you’re paying for features you no longer need or that changes in your circumstances mean you require additional cover. It can also help you assess whether you’re receiving good value for the premiums you’re paying.

But it’s important not to focus solely on price. A cheaper premium may come with reduced benefits, stricter conditions or exclusions that limit protection when it’s needed most.

The goal is not necessarily to find the cheapest policy but to ensure you’re receiving appropriate value for the cover you have.

Major life events are a natural trigger to revisit your insurance. Even if nothing significant has changed, it’s worth checking your cover each year to make sure it still reflects your needs.

The best time to review your insurance is before you need it.

If your circumstances have changed or you can’t remember the last time you checked your cover, speaking with your financial adviser can help identify any gaps, overlaps or opportunities to update your protection.

Putting healthspan at the heart of your plan

There is something deeply hopeful about the fact that we are living longer than previous generations. Advances in medicine, safer living conditions and better healthcare have given many of us more time than our grandparents could have imagined. 

But alongside that good news is a quieter reality that deserves attention. 

Researchers now talk about the difference between lifespan and healthspan. Lifespan being the total number of years we live and healthspan is the number of those years we live in relatively good health, free from chronic illness or disability. 

Ideally, those two would move closer together. Increasingly, they are not. 

Globally, the average gap between lifespan and healthspan is now 9.6 years. Around the year 2000, that gap was closer to 8.5 years. By 2019 it had widened to 9.6 years, an increase of roughly 13 per cent in less than two decades.ⁱ In human terms, that means many people are spending close to a decade of later life managing ongoing health conditions rather than enjoying full independence and vitality. 

Those years matter. They are years spent adjusting, adapting and sometimes relying on more support than expected. 

The changing shape of ageing 

Today, many of the conditions that shape later life are chronic rather than sudden. Heart disease, diabetes, arthritis, respiratory illness and cognitive decline often develop gradually and require long-term management. 

These are not just medical diagnoses. They influence how easily someone can travel, maintain a home, participate in community life or simply move comfortably through their day. 

Life expectancy here remains among the highest in the world, which is something to appreciate. But living longer also increases the likelihood of living with at least one ongoing health condition. Women, in particular, tend to live longer than men and often spend more years managing illness. 

This is not a reason for alarm. It is a reason for thoughtful preparation. 

Why this conversation belongs in financial planning 

When most people think about retirement planning, they think about numbers. How much is enough? How long will savings last? What return might be achievable? 

But behind every financial plan is a human story. 

A longer life can bring extraordinary opportunities: more time with family, more experiences, more freedom. It can also bring periods of vulnerability. Planning with compassion means acknowledging both possibilities. 

Even within a strong public healthcare system, there can be significant ongoing out-of-pocket costs. Specialist appointments, diagnostics, medications, dental care, physiotherapy, mental health services and other supports can become part of regular life over time. 

Private health insurance premiums also tend to rise with age. Having a financial buffer can ease stress during times when health already demands attention. 

Support at home or in care 

Many people hope to remain at home as they age. That may involve home modifications, mobility equipment or in-home assistance. If residential aged care becomes necessary, accommodation payments and ongoing fees can meaningfully affect retirement savings. 

Thinking about these possibilities in advance is not negative. It is an act of care for your future self and for those who may help support you. 

Protecting quality of life 

Healthspan is not only about avoiding illness. It is about preserving dignity, connection and purpose. It is about being able to visit loved ones, participate in meaningful activities, pursue interests and remain engaged with the world. 

Financial flexibility helps protect those choices. It allows room to adapt, rather than react. 

Planning for both vitality and uncertainty 

The widening gap between lifespan and healthspan gently reminds us that retirement planning is about more than longevity projections. 

Some people will enjoy decades of robust health. Others may face health challenges earlier than expected. A well-constructed financial strategy considers both strength and uncertainty. It balances enjoying the present with preparing for potential future care needs. 

At its heart, planning is not about fear. It is about reassurance and confidence. 

Adding life to years 

Living longer is a gift. But the real aspiration for most of us is not simply to add years to life. It is to add life to years. 

Understanding the growing divide between healthspan and lifespan allows for more honest conversations about what ageing may look like. And it reinforces why financial planning is ultimately about wellbeing, not just wealth. 

A thoughtful plan cannot control every outcome. But it can provide stability, options and peace of mind. And in the later chapters of life, those things matter deeply. 

i Washington Post | wellness 

Superannuation: more relevant than ever

A range of superannuation changes that came into effect on 1 July 2026, are reinforcing the role of super as one of the most tax-effective investment structures available.

For many investors, it’s not simply that super remains attractive but that the rules continue to change. Understanding these changes can help ensure your strategy takes advantage of available opportunities while staying on track with your financial goals.

A changing tax environment

Outside of super, tighter rules around the use of discretionary trusts and closer scrutiny of income distributions have reduced some traditional tax planning flexibility. Combined with the ongoing treatment of capital gains, this has made tax outcomes in non-super structures less predictable for some investors.ⁱ In contrast, superannuation continues to provide favourable tax treatment. This is a key reason why super is becoming increasingly important in long-term financial planning.

Payday Super – boost your retirement savings

One of the more practical changes is the introduction of Payday Super, which requires employers to pay super contributions at the same time as wages rather than quarterly.ⁱⁱ While this is primarily an administrative shift, it can have a real impact on individuals’ super balance. More frequent contributions mean compounding begins earlier. Over time, this could lead to improved retirement outcomes.

Higher contribution caps create more opportunities

From 1 July 2026, the concessional superannuation contribution cap (including employer contributions and salary sacrifice) increased to $32,500 from $30,000 in the 2025-2026 financial year.

Non-concessional caps have also increased, from $120,000 in 2025-2026 to $130,000 in the 2026-2027 financial year, enabling larger after-tax contributions. This can be particularly relevant for individuals who have accumulated savings outside super and wish to transfer funds into a more tax-advantaged environment.ⁱⁱⁱ

Carry-forward and bring-forward rules

Two existing rules continue to offer significant opportunities when used effectively.^iv

The carry-forward rule allows those with a total super balance below $500,000 on 30 June in the previous financial year to use unused concessional cap amounts from previous years. This can be especially beneficial for those with irregular income patterns, such as business owners or individuals returning to work after a break.

The bring-forward rule allows you to make several years’ worth of non-concessional contributions in one year, subject to eligibility criteria. This can be particularly useful when receiving an inheritance, selling an asset or restructuring investments.

Parental leave contributions

Another important development is the extension of super contributions to government-funded parental leave, introduced last year. It recognises the long-term impact that time out of the workforce can have on retirement savings, particularly for women.^v While the financial impact may appear modest in the short term, over time the effect of compounding can be meaningful.

Division 296 tax

One of the more widely discussed measures is the Division 296 tax, which applies an additional tax on earnings associated with super balances above $3 million.^vi

While this affects a relatively small proportion of investors, it represents an important shift in the superannuation landscape. The measure is designed to target very large balances, with the objective of limiting the extent of tax concessions at higher levels of wealth.

Transfer Balance Cap increase to $2.1 million

The increase in the Transfer Balance Cap to $2.1 million is another positive development, particularly for those approaching or entering retirement.

This cap determines how much can be transferred into the tax-free retirement phase. An increase allows more capital to benefit from a zero per cent tax rate on earnings, enhancing after-tax income in retirement.

Bringing it all together

Superannuation continues to offer a compelling tax environment, particularly when compared with other investment strategies that are facing increased complexity and scrutiny.

Contribution caps, along with carry forward and bring forward rules, provide multiple pathways to build super balances over time. Changes such as Payday Super and parental leave contributions highlight the benefits of regular, ongoing investment into super and the power of compounding. While new measures such as Division 296 introduce additional considerations, they do not diminish the overall value of super for most investors.

Please get in touch if you’d like to discuss any of these superannuation options.

 

i Capital Gains Tax and Discretionary Trusts Reform | Treasury.gov.au

ii Payday Super | Fair Work Ombudsman

iii Contributions caps | Australian Taxation Office

iv Carry forward and bring forward rules | ATO

v Paid Parental Leave Superannuation Contribution | ATO

vi Better Targeted Super Concessions is law | ATO

Perspective, not policy, drives long-term investment success

In the weeks after the Federal Budget’s announcement to change the rules for negative gearing and the reduction to Capital Gains Tax (CGT), headlines continue to spark debate, and a familiar question lingers: what does this mean for my investments?

With ongoing global developments layered on top, it can feel as though some form of action is required.

But for long-term investors, the Budget itself is rarely the greatest risk to financial success. More often, it’s how we respond to the surrounding commentary that has the bigger impact.

When dramatic Budget announcements coincide with global uncertainty such as economic shifts or geopolitical tensions, the pressure to act can build quickly. Yet, markets absorb new information fast and much of what is announced has already been anticipated and reflected in prices.

This is where discipline matters most. Reacting emotionally can lead to decisions that fall outside a well-considered plan, such as selling quality investments or adjusting strategies based on a single policy change rather than long-term fundamentals.

A useful example is the market reaction during the early stages of the COVID-19 pandemic in 2020. Global markets fell sharply as uncertainty surged and many investors were desperate to sell.

Yet those who stayed invested or continued regular contributions would likely have benefited from the strong recovery that followed over the next 12 to 18 months. In contrast, those who exited the market would probably have had to face the difficult decision of when to re-enter and risked missing a meaningful portion of the rebound.

A decade earlier during the Global Financial Crisis, the ASX 200 took a dive and investor confidence dropped significantly. Many investors chose to move to cash to protect themselves but the markets began recovering well before economic conditions fully stabilised.

Again, those who remained invested or continued adding to their portfolios, likely benefitted from the recovery while many of those who moved to the sidelines probably missed the rebound.

Chasing trends can undermine your strategy

Another common trap is chasing trends.

A sector highlighted by Budget incentives or a widely discussed ‘hot stock’ can seem compelling. But, by the time an opportunity becomes mainstream, it’s often fully valued or even overpriced. That can leave investors buying high and, after sentiment shifts, selling low.

Chasing trends can also erode diversification. Concentrating on a narrow set of opportunities may increase exposure to specific risks and possibly reduce the balance that a diversified portfolio is designed to provide, particularly during periods of volatility.

By contrast, a well-constructed portfolio takes a broader view. It reflects your goals, time horizon, risk tolerance and income needs, while recognising that markets move through cycles and leadership shifts over time. Not every asset performs well simultaneously, and that is a feature of diversification, not a flaw.

Importantly, a sound financial plan is designed with change in mind. Market fluctuations, policy adjustments and economic cycles are expected, not exceptional.

While regular reviews ensure your strategy stays aligned with your circumstances, these reviews typically lead to measured refinements rather than abrupt changes.

It’s also worth remembering that the Federal Budget mainly introduces fiscal measures affecting taxation, spending and incentives across different parts of the economy. These changes tend to play out gradually. Markets, on the other hand, are forward-looking and incorporate expectations well in advance, which reduces the impact of any single announcement.

Consistency is key

For most investors, success is more about maintaining consistency through varying conditions rather than predicting policy outcomes. This includes continuing regular contributions, staying diversified and resisting the urge to make unnecessary changes driven by short-term sentiment.

Periods of heightened uncertainty can be where professional advice helps to keep you focused on your long-term goals. We can interpret any market changes or developments that have occurred and you may be unsure about, assess what is genuinely relevant to your situation and, importantly, provide a steadying influence when noise and emotion begin to creep in.

Ultimately, the Federal Budget is only one of many factors that influence markets. Decisions driven by emotion, loss of diversification or departure from a disciplined strategy tend to have a far more lasting effect.

By keeping your focus on long-term objectives and maintaining a consistent approach, you can navigate uncertainty with greater confidence.

Contact us to discuss how current events affect your plan and keep your investment strategy aligned with your long-term objectives.

Refresh your digital defences in the new financial year

As a new financial year rolls around, most of us have been busy getting everything in order. While you are ticking off your financial housekeeping tasks, there is one important area that deserves a spot at the top of the list: your digital security.

It is easy to overlook, but reviewing your passwords, security settings, and multi-factor authentication (MFA) is one of the most valuable things you can do to protect yourself as you step into the new financial year.

Digital security is more important than ever

Cybercrime is becoming more common and unfortunately, more convincing. Tax time is a peak period for scams, phishing emails, and identity theft attempts. With so much sensitive financial information being shared and accessed, even a small security gap can have serious consequences.

A weak password or an old login is not just a minor oversight. It can be the entry point to your bank accounts, emails, or business systems. Once someone gains access, the fallout can be costly and stressful so take steps now to protect your financial future.

Step 1: Review and update your passwords

If you are still using passwords you created years ago, or reusing the same one across multiple accounts, now is the perfect time to clean things up. Strong, unique passwords are the first line of defence against cybercrime.

• Use long, unique passwords for each account

• Avoid obvious choices like names, birthdays, or common words

• Try using a passphrase, a string of random words that is easy to remember but difficult to guess

• Consider a password manager to generate and store passwords securely

Think of this as clearing out risk, not just clutter. A small investment of time now can save a lot of stress later.

Make it easier with a password manager

Keeping track of strong, unique passwords does not have to be difficult. Password manager apps are designed to do the heavy lifting for you. They securely store your passwords, generate strong ones, and even autofill them when you need to log in.

Some popular options include:

• LastPass

• 1Password

• Dashlane

• Bitwarden

Using one of these tools turns password management from a chore into a simple, reliable system. Many also include features like security alerts and password health checks, helping you identify weak or reused passwords before they become a problem.

Step 2: Turn on multi-factor authentication (MFA)

Passwords alone are no longer enough. MFA adds an extra layer of protection by requiring a second form of verification, such as a code sent to your phone or generated by an authentication app.

Make sure MFA is enabled on your:

• Email accounts

• Banking and financial services

• Government portals

• Cloud storage and work systems

Even if someone obtains your password, MFA can prevent them from gaining access. It is one of the easiest, most effective ways to protect your accounts.

Step 3: Do a quick account audit

The new financial year is the perfect time to review your online accounts, just as you would review your finances.

• Delete accounts you no longer use

• Check for unfamiliar logins or devices

• Update your recovery email and phone number

• Review which apps have access to your accounts
   

This simple audit ensures your digital footprint is tidy and that only the accounts you actively use are connected to your personal and financial information.

Step 4: Secure your devices

Your devices; including phones, tablets, and computers, are part of your financial toolkit. They should be included in your new financial year housekeeping routine.

• Keep your system and apps updated

• Use trusted security software

• Set up screen locks or biometric protection

• Avoid using public Wi-Fi for anything sensitive, or use a VPN if needed

Taking care of your devices protects not just your accounts but the information stored on them.

A secure start

A new financial year is all about getting organised and setting yourself up for success. While it is easy to focus solely on finances, your digital security deserves equal attention.

Because the reality is simple, it is far easier to prevent a security issue now than to deal with the financial and emotional cost of fixing one later.

Make digital security part of your routine to move into the new financial year with peace of mind.

Get prepared for June 30

Tax time is just around the corner, so now is the time to get ahead and find out what strategies may be available to you before 30 June.

Time for a portfolio review

A good first step is to review your investment strategy. With recent market volatility, things may have shifted and your risk tolerance may have changed considerably.

It’s also worthwhile checking your capital gains or losses before 30 June, as this allows you to take action where appropriate.

For example, you may consider realising capital losses to offset gains from assets such as shares, property or crypto.

Super contribution strategies

You should also check your super contributions as early as possible. If you have not reached the Super Guarantee (SG) contributions cap of $30,000, or $120,000 for non-concessional contributions, you may be eligible to make additional contributions to your super.

If you plan to contribute before 30 June, check when your employer will make their contributions. The introduction of Payday Super means some employers are contributing earlier, which may affect your contribution caps.

You will also need to find out the cut-off date from your super fund, which is generally 25-26 June.

Speak to us about the various ways you could boost your super before the EOFY.

For SMSF members, make sure that:

• All contributions are received by the fund’s bank account by 30 June

• Minimum pension payments are made

• Asset valuations are up to date

• Fund records are current

Division 296 super tax

It’s also important to note that Division 296 tax comes into effect on 1 July 2026 and applies to investment earnings earned during 2026–27 and the following financial years.

For those whose total super balance exceeds $3 million on 30 June 2027 there will be a 15 per cent additional tax on the proportion of earnings corresponding to the Total Super Balance (TSB) between $3 million and $10 million and an additional 25 per cent tax on the proportion of earnings corresponding to TSBs above $10 million.

Tax timing strategies

If you have regular deductible expenses, such as investment loan interest or annual costs, it may be useful for some to prepay them before 30 June to claim a deduction for this financial year.

You may also consider the timing of income expected before 30 June. Deferring income until after the end of the financial year may help reduce your tax liability.

Tax rates are also changing for lower income earners. From 1 July 2026, the rate for income between $18,201 and $45,000 will reduce from 16 per cent to 15 per cent, with a further reduction to 14 per cent the following year.

Tax returns done right

While planning ahead for the EOFY is key, it’s also important to take the time to understand what the ATO is focusing on when it comes to preparing your tax return post June 30.

This year, the ATO will be focusing on work-related deductions and income that’s not declared on tax returns.

If you are claiming work-related expenses, ensure they meet the ATO’s three golden rules:

1. The expense must be directly related to earning your income

2. You must not have been reimbursed

3. You must have records to support your claim, such as receipts or a logbook.

If you work from home for all or part of the week, you can use either the actual cost method or the fixed rate method.

Don’t overlook income

The ATO is also paying close attention to undeclared income. This includes:

• Cash payments

• Interest income

• Rental income

• Earnings from crypto assets.

For those with a side hustle, check whether it may be considered a business. All business income, regardless of amount, is assessable and must be declared.

If you intend to claim deductions for business expenses related to your side hustle, ensure they are directly connected to earning that income and are supported by receipts. Your accountant will be able to determine what should be declared.

If you’d like to talk to us about ways to boost your super before EOFY or questions about your investment strategies, call today to ensure everything is in place before 30 June.

Source: https://www.ato.gov.au

The art of leaning into winter

As the days grow shorter and the mornings a little crisper, winter is quietly making its entrance. In some places it brings frosty weather and extra layers, while in others it is a gentle shift with cooler evenings and a respite from the heat. Either way, the change in season often brings a noticeable difference in mood, energy, and overall health.

If you are already feeling a bit flat, tired, or more prone to the sniffles, you are not imagining it. The combination of less daylight, cooler weather, and more time indoors can have a real impact so let’s look at some ways to make winter a little more bearable.

Responding to the change

Our bodies are more in tune with the seasons than we often realise. Shorter days affect our internal clock and can lead to lower energy or a dip in mood. Around one in three people report feeling more down or low during winter, and many notice reduced energy and enjoyment in daily life.ⁱ

Lifestyle changes add to the effect. Nearly half of people say they become less social as winter begins, quietly deepening the sense of disconnection.ⁱⁱ Even cravings shift, with many leaning toward comfort foods like carbs and sweets. These habits are common and natural, reflecting how our bodies respond to the changing season.

Keeping healthy and dodging the lurgies

Starting winter with a few simple habits can help you feel your best.

Colds and viruses are more prevalent in cooler months so stay on top of hygiene by washing your hands regularly, covering coughs, and taking care when unwell.

Eat nourishing, warming food. Soups, stews, roasted vegetables, and slow-cooked meals are ideal. While many people say they reach for comfort foods more often in winter, balancing them with fresh produce supports both mood and immunity.

Keep moving even when it is tempting to slow down. Regular movement helps counter winter sluggishness and supports overall physical and mental health.

Prioritise rest. The longer nights invite more sleep, but maintaining a steady routine with good-quality rest helps keep energy levels and immunity up.

Lifting your mood

If your energy dips or your mood feels a little off, gentle adjustments can help.

Catch the daylight whenever you can. Even a short walk outdoors during daylight hours helps regulate your mood and energy.

Stay connected. Social energy naturally dips for many, with over forty per cent of people saying they pull back from social interactions in winter.ⁱⁱⁱ However, making the effort to check in with friends or family can brighten your day and even small gestures matter.

Leaning into winter

If you really want to lean into the cooler weather, you can seek out experiences that celebrate the season. Winter festivals turn the long nights into something to celebrate. Events such as Vivid Sydney fill the evenings with vibrant light, music, and art, while the more edgy Dark Mofo in Tasmania is an arts and culture festival that celebrates darkness.

Seasonal food celebrations add another layer of enjoyment. Yulefest in the Blue Mountains brings ‘Christmas in July’ to life with roaring fires and hearty feasts. Truffle season in Margaret River invites indulgence with truffle-based cuisine paired with exquisite local wines. If you want to keep it close to home, check out what’s on in your neighbourhood. You might find a winter market to explore or eat at a restaurant that’s featuring fantastic seasonal produce.

The winter solstice, marking the shortest day of the year, also serves as a gentle reminder that longer, brighter days are on the way. Pausing to reflect or creating a small tradition, like lighting a candle or sharing a meal or some mulled wine, can bring a sense of warmth and celebration to chilly days.

You don’t have to go to too much effort. There is something special about enjoying simple comforts, whether it is snuggling on the couch with a cosy blanket, relaxing in front of a crackling fire, or putting your feet up with a warm drink.

Winter has its own quiet charm if you let it. By employing a little self-care and being open to the quieter pleasures of the season, it can be a time to savour.

i https://www.mhfa.org.au/understanding-seasonal-affective-disorder-sad
ii,iii https://mccrindle.com.au/article/winter-blues-having-real-impact-in-australia/

Investing for the next generation

For many, the goal of investing is about creating wealth for a comfortable financial future, as well as a legacy that supports your children and grandchildren for decades to come.

But one of the greatest risks to that legacy can be the challenge of dealing with sudden wealth. When adult children inherit large sums or significant assets without preparation, sometimes the result is family tension, poor decisions or erosion of wealth.

While precise figures vary, research and industry experience consistently show that many families struggle to preserve wealth beyond the second and third generations, largely due to behavioural and governance challenges rather than investment performance.

Building financial literacy

Financial capability is developed over years of exposure, education, and experience.

The Australian Securities and Investments Commission (ASIC) MoneySmart program emphasises that financial literacy is a core life skill, not simply a technical ability.

While an inheritance may be some years off, parents who are expecting to pass on some form of an inheritance, should begin involving their children in financial discussions where appropriate. This might include reviewing investment portfolios together, explaining the complexities of how superannuation works or discussing the rationale behind major financial decisions. Understanding how risk is associated with investing, and ongoing tax obligations is also essential to create the whole picture.

Practical experience is just as important as theory. Allowing adult children to manage a portion of investments, under guidance, can build confidence and accountability. This phased approach reduces the risk of overwhelm later, when financial responsibility increases significantly.

Gifting or loaning?

Another important consideration when supporting the next generation is whether to provide financial assistance as a gift or a loan. The decision has both ethical and practical implications.

Gifting can provide immediate support without the burden of repayment, allowing children to purchase a home, invest or establish a business. But unequal gifting among siblings may create perceptions of favouritism, even if the intention is fair. Clear communication and documentation of the reasoning behind decisions is essential.

Loaning, on the other hand, can maintain a sense of responsibility and fairness.

Loans structured with clear terms can encourage financial discipline and avoid creating dependency. Families often formalise the arrangements with written agreements that set expectations for repayments and interest. There are also taxation and legal considerations.

The Australian Taxation Office may assess certain arrangements differently depending on whether funds are genuinely gifted or loaned. Professional advice ensures that intentions are reflected correctly. Ultimately, the choice between gifting and loaning may come down to the financial maturity of the recipient and your estate plan.

Preparing the next generation beyond money

Financial preparation alone is not enough. Inheriting wealth also involves emotional and behavioural readiness.

Open conversations about wealth, values and expectations are important. This includes explaining the purpose of wealth, whether it is to provide security, support philanthropy or create opportunities for future generations.

Governance structures, such as family meetings, investment committees or advisory boards can also help heirs understand their roles and responsibilities and encourage collaboration.

Philanthropy is another powerful tool for preparing heirs. Involving children in charitable giving decisions can instil a sense of social responsibility. It reinforces the idea that wealth is not solely for personal use, but also a resource to benefit the broader community.

Managing the transition

Gradual transition strategies can ease the adjustment for both parents and children.

This might involve progressively transferring control of assets. For example, adult children may first participate in decision-making, then take on increasing responsibility for managing investments over time. Trust structures are often used for staged distributions, allowing flexibility and protection.

Regular reviews are equally important. As family circumstances change, so too should the plan. Marriage, divorce, business ventures or health issues can all affect how wealth should be managed and transferred.

A legacy of capability

Successful intergenerational wealth transfer is not measured by the size of the inheritance but by the preparedness of those who receive it. Financial literacy, decision-making and open communication are the foundations of lasting wealth. By investing time in educating and including the next generation, families can reduce the risks associated with sudden wealth and create a legacy that endures.

If you’d like to discuss how to prepare your family for a successful wealth transition, we’re here to help.

Get prepared for June 30

Tax time is just around the corner, so now is the time to get ahead and find out what strategies may be available to you before 30 June.

Time for a portfolio review

A good first step is to review your investment strategy. With recent market volatility, things may have shifted and your risk tolerance may have changed considerably.

It’s also worthwhile checking your capital gains or losses before 30 June, as this allows you to take action where appropriate.

For example, you may consider realising capital losses to offset gains from assets such as shares, property or crypto.

Super contribution strategies

You should also check your super contributions as early as possible. If you have not reached the Super Guarantee (SG) contributions cap of $30,000, or $120,000 for non-concessional contributions, you may be eligible to make additional contributions to your super.

If you plan to contribute before 30 June, check when your employer will make their contributions. The introduction of Payday Super means some employers are contributing earlier, which may affect your contribution caps.

You will also need to find out the cut-off date from your super fund, which is generally 25-26 June.

Speak to us about the various ways you could boost your super before the EOFY.

For SMSF members, make sure that:

• All contributions are received by the fund’s bank account by 30 June

• Minimum pension payments are made

• Asset valuations are up to date

• Fund records are current

Division 296 super tax

It’s also important to note that Division 296 tax comes into effect on 1 July 2026 and applies to investment earnings earned during 2026–27 and the following financial years.

For those whose total super balance exceeds $3 million on 30 June 2027 there will be a 15 per cent additional tax on the proportion of earnings corresponding to the Total Super Balance (TSB) between $3 million and $10 million and an additional 25 per cent tax on the proportion of earnings corresponding to TSBs above $10 million.

Tax timing strategies

If you have regular deductible expenses, such as investment loan interest or annual costs, it may be useful for some to prepay them before 30 June to claim a deduction for this financial year.

You may also consider the timing of income expected before 30 June. Deferring income until after the end of the financial year may help reduce your tax liability.

Tax rates are also changing for lower income earners. From 1 July 2026, the rate for income between $18,201 and $45,000 will reduce from 16 per cent to 15 per cent, with a further reduction to 14 per cent the following year.

Tax returns done right

While planning ahead for the EOFY is key, it’s also important to take the time to understand what the ATO is focusing on when it comes to preparing your tax return post June 30.

This year, the ATO will be focusing on work-related deductions and income that’s not declared on tax returns.

If you are claiming work-related expenses, ensure they meet the ATO’s three golden rules:

1. The expense must be directly related to earning your income

2. You must not have been reimbursed

3. You must have records to support your claim, such as receipts or a logbook.

If you work from home for all or part of the week, you can use either the actual cost method or the fixed rate method.

Don’t overlook income

The ATO is also paying close attention to undeclared income. This includes:

• Cash payments

• Interest income

• Rental income

• Earnings from crypto assets.

For those with a side hustle, check whether it may be considered a business. All business income, regardless of amount, is assessable and must be declared.

If you intend to claim deductions for business expenses related to your side hustle, ensure they are directly connected to earning that income and are supported by receipts. Your accountant will be able to determine what should be declared.

If you’d like to talk to us about ways to boost your super before EOFY or questions about your investment strategies, call today to ensure everything is in place before 30 June.

Source: https://www.ato.gov.au

Investing for the next generation

For many, the goal of investing is about creating wealth for a comfortable financial future, as well as a legacy that supports your children and grandchildren for decades to come.

But one of the greatest risks to that legacy can be the challenge of dealing with sudden wealth. When adult children inherit large sums or significant assets without preparation, sometimes the result is family tension, poor decisions or erosion of wealth.

While precise figures vary, research and industry experience consistently show that many families struggle to preserve wealth beyond the second and third generations, largely due to behavioural and governance challenges rather than investment performance.

Building financial literacy

Financial capability is developed over years of exposure, education, and experience.

The Australian Securities and Investments Commission (ASIC) MoneySmart program emphasises that financial literacy is a core life skill, not simply a technical ability.

While an inheritance may be some years off, parents who are expecting to pass on some form of an inheritance, should begin involving their children in financial discussions where appropriate. This might include reviewing investment portfolios together, explaining the complexities of how superannuation works or discussing the rationale behind major financial decisions. Understanding how risk is associated with investing, and ongoing tax obligations is also essential to create the whole picture.

Practical experience is just as important as theory. Allowing adult children to manage a portion of investments, under guidance, can build confidence and accountability. This phased approach reduces the risk of overwhelm later, when financial responsibility increases significantly.

Gifting or loaning?

Another important consideration when supporting the next generation is whether to provide financial assistance as a gift or a loan. The decision has both ethical and practical implications.

Gifting can provide immediate support without the burden of repayment, allowing children to purchase a home, invest or establish a business. But unequal gifting among siblings may create perceptions of favouritism, even if the intention is fair. Clear communication and documentation of the reasoning behind decisions is essential.

Loaning, on the other hand, can maintain a sense of responsibility and fairness.

Loans structured with clear terms can encourage financial discipline and avoid creating dependency. Families often formalise the arrangements with written agreements that set expectations for repayments and interest. There are also taxation and legal considerations.

The Australian Taxation Office may assess certain arrangements differently depending on whether funds are genuinely gifted or loaned. Professional advice ensures that intentions are reflected correctly. Ultimately, the choice between gifting and loaning may come down to the financial maturity of the recipient and your estate plan.

Preparing the next generation beyond money

Financial preparation alone is not enough. Inheriting wealth also involves emotional and behavioural readiness.

Open conversations about wealth, values and expectations are important. This includes explaining the purpose of wealth, whether it is to provide security, support philanthropy or create opportunities for future generations.

Governance structures, such as family meetings, investment committees or advisory boards can also help heirs understand their roles and responsibilities and encourage collaboration.

Philanthropy is another powerful tool for preparing heirs. Involving children in charitable giving decisions can instil a sense of social responsibility. It reinforces the idea that wealth is not solely for personal use, but also a resource to benefit the broader community.

Managing the transition

Gradual transition strategies can ease the adjustment for both parents and children.

This might involve progressively transferring control of assets. For example, adult children may first participate in decision-making, then take on increasing responsibility for managing investments over time. Trust structures are often used for staged distributions, allowing flexibility and protection.

Regular reviews are equally important. As family circumstances change, so too should the plan. Marriage, divorce, business ventures or health issues can all affect how wealth should be managed and transferred.

A legacy of capability

Successful intergenerational wealth transfer is not measured by the size of the inheritance but by the preparedness of those who receive it. Financial literacy, decision-making and open communication are the foundations of lasting wealth. By investing time in educating and including the next generation, families can reduce the risks associated with sudden wealth and create a legacy that endures.

If you’d like to discuss how to prepare your family for a successful wealth transition, we’re here to help.

The art of leaning into winter

As the days grow shorter and the mornings a little crisper, winter is quietly making its entrance. In some places it brings frosty weather and extra layers, while in others it is a gentle shift with cooler evenings and a respite from the heat. Either way, the change in season often brings a noticeable difference in mood, energy, and overall health.

If you are already feeling a bit flat, tired, or more prone to the sniffles, you are not imagining it. The combination of less daylight, cooler weather, and more time indoors can have a real impact so let’s look at some ways to make winter a little more bearable.

Responding to the change

Our bodies are more in tune with the seasons than we often realise. Shorter days affect our internal clock and can lead to lower energy or a dip in mood. Around one in three people report feeling more down or low during winter, and many notice reduced energy and enjoyment in daily life.ⁱ

Lifestyle changes add to the effect. Nearly half of people say they become less social as winter begins, quietly deepening the sense of disconnection.ⁱⁱ Even cravings shift, with many leaning toward comfort foods like carbs and sweets. These habits are common and natural, reflecting how our bodies respond to the changing season.

Keeping healthy and dodging the lurgies

Starting winter with a few simple habits can help you feel your best.

Colds and viruses are more prevalent in cooler months so stay on top of hygiene by washing your hands regularly, covering coughs, and taking care when unwell.

Eat nourishing, warming food. Soups, stews, roasted vegetables, and slow-cooked meals are ideal. While many people say they reach for comfort foods more often in winter, balancing them with fresh produce supports both mood and immunity.

Keep moving even when it is tempting to slow down. Regular movement helps counter winter sluggishness and supports overall physical and mental health.

Prioritise rest. The longer nights invite more sleep, but maintaining a steady routine with good-quality rest helps keep energy levels and immunity up.

Lifting your mood

If your energy dips or your mood feels a little off, gentle adjustments can help.

Catch the daylight whenever you can. Even a short walk outdoors during daylight hours helps regulate your mood and energy.

Stay connected. Social energy naturally dips for many, with over forty per cent of people saying they pull back from social interactions in winter.ⁱⁱⁱ However, making the effort to check in with friends or family can brighten your day and even small gestures matter.

Leaning into winter

If you really want to lean into the cooler weather, you can seek out experiences that celebrate the season. Winter festivals turn the long nights into something to celebrate. Events such as Vivid Sydney fill the evenings with vibrant light, music, and art, while the more edgy Dark Mofo in Tasmania is an arts and culture festival that celebrates darkness.

Seasonal food celebrations add another layer of enjoyment. Yulefest in the Blue Mountains brings ‘Christmas in July’ to life with roaring fires and hearty feasts. Truffle season in Margaret River invites indulgence with truffle-based cuisine paired with exquisite local wines. If you want to keep it close to home, check out what’s on in your neighbourhood. You might find a winter market to explore or eat at a restaurant that’s featuring fantastic seasonal produce.

The winter solstice, marking the shortest day of the year, also serves as a gentle reminder that longer, brighter days are on the way. Pausing to reflect or creating a small tradition, like lighting a candle or sharing a meal or some mulled wine, can bring a sense of warmth and celebration to chilly days.

You don’t have to go to too much effort. There is something special about enjoying simple comforts, whether it is snuggling on the couch with a cosy blanket, relaxing in front of a crackling fire, or putting your feet up with a warm drink.

Winter has its own quiet charm if you let it. By employing a little self-care and being open to the quieter pleasures of the season, it can be a time to savour.

i https://www.mhfa.org.au/understanding-seasonal-affective-disorder-sad
ii,iii https://mccrindle.com.au/article/winter-blues-having-real-impact-in-australia/

Federal Budget 2026-27 Analysis

Reform and resilience in uncertain times

Treasurer Jim Chalmers has framed the 2026 Federal Budget as “the most important and ambitious budget in decades”.

“This Budget is about getting us through the global oil shock and taking pressure off Australians while building a stronger economy, better tax system, a more sustainable budget and lifting living standards,” the Treasurer told Parliament.

With an overarching theme of ‘reform and resilience’, the Federal Government is aiming to shore up investor confidence at a time when the global economy teeters thanks to war in the Middle East and the disruption of global oil supplies. Despite the challenges, Treasury says Australia’s economy continues to grow faster than every major advanced economy.

For households and wage earners, the Budget delivers a mix of targeted cost-of-living relief and significant structural reform, particularly in tax and housing.

The big picture

At the headline level, the Budget forecasts an underlying cash deficit of $31.5 billion in 2026–27, an improvement of $2.8 billion on the mid‑year update, despite slower global growth and higher oil prices.

Economic growth is forecast to slow from 2.25 per cent this financial year to 1.75 per cent in 2026–27, reflecting weaker international conditions, before gradually strengthening over the medium term. Inflation is expected to rise temporarily in the June quarter to around 5 per cent driven largely by fuel and transport costs linked to the war‑driven global oil shock. Despite this near-term pressure, the Government continues to project a return to a balanced budget in the mid-2030s followed by modest surpluses.

The Treasurer maintains that budget repair is being driven primarily by savings and spending restraint, rather than broad-based tax increases.

From a policy perspective, the Budget rests on five pillars: managing the global oil shock; easing cost‑of‑living pressures; lifting productivity; reforming the tax system; and strengthening national resilience. Each has direct implications for household finances, superannuation, investment structures and long‑term planning.

The Treasurer has made clear that a major goal is to “rebalance the tax system” so that wage earners are not treated substantially differently from those who earn income through assets and investments.

While some measures will take years to flow through, the direction is to prioritise the national security, energy supply, productivity and care sectors, while accepting political risk, to strengthen the economy over the medium to long term.

Cost-of-living

The Government has been careful to structure cost-of-living measures so that they don’t meaningfully add to inflation. The most prominent initiative is the Working Australians Tax Offset, providing a $250 offset for more than 13 million employees from the 2027–28 income year.

In addition, workers will be able to claim a $1,000 instant tax deduction for work-related expenses from 2026–27, without the need to keep receipts.

Income tax thresholds will also be adjusted. From 1 July 2026, the 16 per cent tax rate, applying to income between $18,201 and $45,000, will be reduced to 15 per cent before falling further to 14 per cent from 1 July 2027.

The government will increase Medicare Levy low-income thresholds by 2.9 per cent from the 2025–26 income year, a change expected to benefit more than one million lower-income Australians who will remain exempt from the Levy or pay a reduced rate.

Productivity

Productivity comes in for renewed focus, reflecting concern that long-term improvements in living standards can’t be sustained without structural change. The Budget allocates funding aimed at reducing red tape by an estimated $10.2 billion per year, including faster environmental approvals and streamlined foreign investment processes.

Housing construction remains a central productivity priority. New funding for local infrastructure is designed to support up to 65,000 extra homes, alongside measures to fast‑track skilled migrant trades and improve construction capacity.

Investment in transport infrastructure also features prominently, with $8.6 billion committed to nationally significant road and rail projects, improving freight efficiency and workforce mobility particularly across the regions.

Taken together, these measures represent a shift toward capability building. For business owners and investors, the emphasis is on reducing friction, improving labour supply and supporting capital investment that lifts output over time rather than fuelling higher prices.

Tax reform

The most debated element of the Budget is the tax reform package directed at property investors and discretionary trusts.

From 1 July 2027, negative gearing will be limited to new housing, with existing arrangements grandfathered. At the same time, the 50 per cent capital gains tax (CGT) discount will be replaced with cost-base indexation, alongside a new minimum effective tax rate of 30 per cent on capital gains.

The CGT settings for super and self-managed super funds will remain unchanged, which means investors will continue to receive a CGT discount of 33.33 per cent for relevant assets held for over 12 months in super.

The Government argues these changes are essential to address intergenerational inequity and housing affordability, while continuing to support investors who add to new housing supply. Treasury modelling suggests a modest impact on rents over time, with savings redirected toward care services and tax relief for wage earners.

Trusts have also been brought into the Government’s tax reform agenda, with a new minimum 30 per cent tax rate to apply to discretionary trust distributions from 1 July 2028. The measure is aimed at improving integrity and reducing income‑splitting arrangements that allow some taxpayers to pay significantly less tax than wage earners on comparable incomes.

Housing affordability

The Treasurer aims to address housing shortages and affordability, by increasing total investment to $47 billion and supporting an estimated 75,000 additional Australians to achieve home ownership over the next decade through the tax reform package.

The Government claims around 65,000 additional homes will be delivered over 10 years through its support for new developments. A new $2 billion fund has been established to help local governments and state utilities build the infrastructure needed to support new housing.

To free up additional supply, the Government is extending the ban on foreign buyers purchasing established homes until mid-2029.

Aged care and health

Health and aged care receive significant additional funding as demand continues to rise. The Budget commits $25 billion in additional hospital funding over the medium term, alongside incentives to expand bulk billing and reduce strain on emergency departments.

The Government has confirmed further reductions in the cost of medicines, building on earlier PBS reforms, with cheaper scripts and faster access to newly listed drugs funded through additional PBS investment.

Aged care reform focuses on both supply and workforce sustainability. The Government will fund incentives to support construction of an additional 5,000 residential aged care beds per year by 2029.

The NDIS also features prominently, with continued efforts to rein in unsustainable cost growth and strengthen integrity. Measures include tightening eligibility, reducing rorting and redirecting funding towards participants with the highest needs.

Future proofing

The focus on national resilience is a defining characteristic of the Budget. Fuel security is front and centre following the global oil shock, with measures to secure domestic fuel reserves, reserve 20 per cent of gas exports for Australian use and provide concessional finance to logistics and manufacturing firms most exposed to price volatility.

Defence spending also rises sharply, with a record additional $53 billion committed over the coming decade. The focus is on readiness, supply chains and regional security, reflecting growing geopolitical risk in the Indo‑Pacific and beyond.

Looking ahead

The outlook remains uncertain. Treasury acknowledges the risk of further inflation spikes if global energy markets deteriorate, with worst-case scenarios still modelling inflation above 7 per cent and higher unemployment. But the central forecast avoids recession and assumes gradual improvement from late 2027 onward.

If you have any questions about how the 2026 Federal Budget may affect your personal finances, please contact us to discuss.

Information in this article has been sourced from the Budget Speech 2026-27 and Federal Budget Support documents.  

It is important to note that the policies outlined in this article are yet to be passed as legislation and therefore may be subject to change. 

Protecting family ties in a growing business

Around 70 per cent of small businesses are family enterprises. That is a powerful reminder of how much trust, shared values and long-term commitment drives the small business sector. Family businesses often benefit from loyalty, resilience and a strong sense of purpose.

At the same time, mixing family and business can be complicated. Personal history, sibling dynamics and unspoken expectations can influence decisions in subtle ways and can create conflict. When you work with relatives, you are managing more than a business. You are managing relationships that matter deeply outside the workplace too.

The good news is that harmony is possible with the right structure.

Know the risks

In family businesses, emotions tend to sit closer to the surface than in a purely professional environment. A disagreement about strategy can quickly feel personal. Long standing family roles can quietly shape behaviour at work.

Confusion about responsibilities is also common. A spouse may help with the business, without the benefit of a clearly defined position. A child may assume leadership will automatically pass to them one day. Without clarity, assumptions grow and resentment can follow.

Recognising these risks early allows you to address them before they damage both the business and family relationships.

Set the rules

A Family Charter or Constitution is one of the most useful tools a family enterprise can create. This is a non-binding written agreement that sets out how the family, and the business, will work together.

It can define roles, ownership structures, and expectations for family members who join the company. It should also clarify how decisions are made and how disputes are handled. Agreeing in advance which decisions require consensus and who has final authority reduces power struggles and conflict down the track.

When emotions rise, you can refer to agreed processes rather than arguing about personalities.

Clarify roles

As well as defining how the family works together in the business, it can also help to have clarity around individual roles and responsibilities within the company, as unclear roles can be a major source of tension.

Ensure you have documented job descriptions, set performance guidelines and make reporting hierarchy obvious. Scheduling regular, formal reviews can be useful to set expectations and provide feedback in a professional setting.

It is also important to separate ownership from employment. Being a shareholder does not automatically qualify someone for a management role they may not be suited for. Setting fair entry requirements and standards protects both the business and the credibility of family members within it.

Professional conduct is also important, even if you have worked together for years, it helps to treat family members as colleagues, which can be challenging at times.

Talk it through

Healthy communication is essential and regular, structured meetings can help keep business discussions focused and productive.

Encourage neutral language in disagreements. Saying, “I disagree with this approach because…” keeps the focus on strategy. Phrases like “You always…” quickly turns discussions into personal attacks.

It also helps to stay in the present. Old family grievances rarely improve today’s business decisions.

Get outside help

When tensions run high, external support can make a significant difference. A mediator, consultant or advisory board can provide objectivity and guide difficult conversations, particularly around governance or succession.

Seeking outside help shows commitment to the long-term health of both the company and the family.

Plan ahead

Succession is one of the most sensitive issues in family businesses. If it is not discussed openly, it can create anxiety and competition.

Start conversations early. Be transparent about what leadership requires and how decisions will be made. In some cases, professional managers may lead the business while ownership remains in the family.

Clarity builds trust and reduces misunderstandings.

Set boundaries

Clear boundaries between work and home life are essential. Try to protect family time from constant business discussions and create moments where relationships come first.

If conflict escalates, temporary changes in responsibilities or reporting lines can help ease pressure. Preserving the relationship should always be a priority.

A strong future

Family businesses have unique strengths, including long term thinking and shared commitment. But harmony does not happen by chance. It comes from clear rules, defined roles, open communication and healthy boundaries.

By managing both the personal and professional relationships with care, you give your business the best chance to thrive for generations to come.

Common scams to watch out for at EOFY

As the end of the financial year approaches, it’s a busy time for preparing your taxes, reviewing super, and getting your finances in order. Unfortunately, it’s also a peak period for scammers looking to take advantage of people and businesses who are focused on deadlines and end-of-year financial tasks.

EOFY creates the perfect environment for fraud. With refunds, payment reminders, super contributions, and updated financial documents all top of mind, scammers rely on urgency and distraction to trick people into handing over personal or financial information.

Knowing what to watch for can save you stress, money, and headaches. This guide highlights the most common EOFY scams and offers practical tips to help protect your finances before you act.

Fake ATO communications

A common scam involves messages pretending to be from the Australian Taxation Office. These can arrive as emails, text messages, or phone calls, claiming that a refund is due or that a tax debt must be paid immediately.

Scammers create urgency by threatening penalties, legal action, or freezing accounts. They often ask for payment via unusual methods like gift cards, cryptocurrency, or direct bank transfer. The ATO will never request payment in these ways.

Always verify suspicious communications independently. Do not click links or provide personal information in response to unexpected messages. If in doubt, search online to find the correct contact details.

Phishing emails targeting business owners

EOFY is a particularly high-risk time for businesses. Scammers often send emails that look like they come from payroll providers, accounting software platforms, banks, or even bookkeepers.

These emails may request login credentials, bank information updates, or contain attachments that install malware. Verify any unusual requests by calling the organisation using a trusted phone number. Never rely on the contact details or links provided in the email itself.

Even seemingly minor requests can be part of a larger scheme. A small error in payment details can lead to ongoing losses if scammers are able to redirect multiple invoices over time.

Invoice and payment redirection scams

Businesses finalising accounts are often targeted with fake invoices or intercepted invoices that have altered bank account details.

Because these payments are routine and expected, they can be processed without question. Always double-check any changes to payment details with the supplier before sending funds. A quick verification call can prevent significant financial loss.

It’s also wise to keep a consistent process for approving payments, including multiple checks or sign-offs for large amounts, to reduce the risk of falling victim to invoice scams.

Superannuation and investment scams

Scammers take advantage of EOFY financial reviews by promoting fake investment opportunities or superannuation schemes that promise high returns or tax advantages. Some even claim to help access super early to “avoid tax” or “invest better.”

Be cautious of unsolicited offers and guaranteed returns. Only consider changes to super or investments through verified and legitimate channels. Check any adviser or company through the official regulatory registers before taking any action.

Social media and SMS scams

Short text messages or social media ads claiming you are eligible for a tax refund are increasingly common. These often contain links to fake websites that collect personal information. Scammers may use official-looking logos, branding, and URLs to make the message appear legitimate.

Do not click on links from unexpected messages. Verify the legitimacy of any refund or offer through official websites and use secure channels for submitting sensitive information.

Staying safe

At EOFY, it’s important to slow down. Scammers rely on urgency. Messages that pressure you to take immediate action or threaten consequences are red flags. Verify first, act second.

Keep devices and software up to date, use strong and unique passwords, and enable two-factor authentication where possible. Keep an eye on your accounts for unusual activity and regularly review payment processes to make sure safeguards are in place.

EOFY should be a time to tidy up finances and plan for the year ahead. Protecting yourself from scams ensures that money stays where it belongs and that EOFY is a time for financial clarity, not stress.

For any questions or concerns about suspicious communications, talk to us. A quick check now can prevent problems later and give peace of mind while managing your EOFY finances.

Retirement income options when markets are volatile

The income assumptions many have carried into retirement are being tested in the current economic climate.

Markets have lurched from one direction to another; interest rates have lifted faster than expected, with the possibility of more increases in the months ahead, and there’s no end in sight to the global uncertainty.

While the market shocks are interspersed with periods of relative calm, The Reserve Bank of Australia (RBA) warns that the disruption could pose challenges to our financial stability.ⁱ

Nonetheless, the RBA says Australia is “well placed” to handle the uncertain times.

For those heading into retirement and focused on income security rather than speculation, having a clear view of the different retirement income options can help.

Account-based pensions

One of the most common retirement income options is an account-based pension, often started using superannuation savings. Your money stays invested, and you draw a regular income from the account, choosing the payment amount (subject to minimum annual withdrawals set by law) and the investment mix.ⁱⁱ

The appeal here is flexibility. You can adjust payments and investment options, and the remaining balances can be left to beneficiaries in your will.

On the other hand, account-based pensions are directly exposed to market movements. So, when markets fall, your account balance may be affected. That could reduce your future income particularly if you continue withdrawals during a market downturn.

The risk is most significant in the early years of retirement. Losses combined with regular withdrawals can permanently reduce how long savings last, a challenge known as sequencing risk. Understandably, many retirees respond by spending less than they could afford, even when markets recover, simply to avoid the fear of running out of money later in life.ⁱⁱⁱ

Lifetime annuities

Annuities offer a different approach. In return for a lump sum investment, annuities pay a guaranteed income either for a fixed period or for the rest of your life. Because the payments are not linked to daily market values, they could deliver a strong sense of certainty, particularly when it comes to covering essential living costs.^iv

Some annuities provide fixed payments, some increase with inflation and others offer income linked partly to investment markets while still guaranteeing payments for life. These alternative styles of annuities aim to balance stability with the potential for higher long‑term income.

Combining income streams

Rather than choosing between flexibility and certainty, retirees may benefit from using more than one income stream. This approach combines a guaranteed income source with a more flexible one.

For example, a lifetime annuity might be used to cover the basics such as housing, food and utilities, while an account‑based pension funds discretionary spending, travel or unexpected expenses. Research suggests this could lead to more stable income and greater confidence to spend, even when investment markets are volatile.^v

By making sure that your essential expenses are met regardless of market conditions, you may be less likely to panic or reduce spending during downturns.

The Age Pension

The Age Pension is an important part of the retirement income picture for many. It provides a government backed, inflation‑linked income that is not affected by market performance. For eligible retirees, it can act as a valuable safety net later in life, particularly if personal savings decline.

Some lifetime income products receive concessional treatment under the Age Pension assets test, which can improve eligibility or payment levels. Understanding how different income streams interact with Centrelink rules can affect retirement outcomes.^vi

Retirement income is about what fits, not forecasts

There is no single best retirement income option. Each comes with trade‑offs between flexibility, risk, growth potential and control. What matters most is how well an income strategy matches your spending needs, risk tolerance and desire for certainty.

The right structure, could help to reduce stress and support more confident spending in retirement. Uncertainty doesn’t have to mean insecurity.

Talk with us about structuring a retirement income approach that fits your priorities and your circumstances.

i The Global Macro-financial Environment | Financial Stability Review, March 2026 | RBA

ii Income streams | Australian Taxation Office

iii Which super funds offer income for life? | SuperGuide

iv, vi Income streams – Age Pension | Services Australia

v How product layering can support retirement outcomes | ASFA