If you’ve ever come across the term 401(k) while researching retirement plans, you might be wondering what the Australian equivalent is and how it works. In the U.S., a 401(k) is a tax-advantaged retirement savings plan, but Australia has its own system for retirement savings: superannuation (super). In this article, we’ll break down what a […]
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A defined benefit superannuation fund is a type of super fund where the retirement benefits are predetermined based on a specific formula, rather than being directly linked to investment returns. Unlike accumulation funds, where retirement savings depend on investment performance, defined benefit funds provide more certainty for members regarding their retirement income. How Defined Benefit
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“Succession planning, and the tax risks associated with it, is our number one focus in 2025. In recent years we’ve observed an increase in reorganisations that appear to be connected to succession planning.” ATO Private Wealth Deputy Commissioner Louise Clarke The Australian Taxation Office (ATO) thinks that wealthy babyboomer Australians, particularly those with successful family-controlled
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Finding the right financial advisor can make a significant difference to your financial well-being. Whether you need assistance with retirement planning, wealth management, or tax strategies, a professional financial advisor can help you achieve your financial goals. Here’s how to find a good financial advisor in Melbourne. Why You Need a Financial Advisor A financial
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Managing a Self-Managed Super Fund (SMSF) can be a rewarding way to take control of your retirement savings. However, SMSFs come with significant compliance, reporting, and investment responsibilities. This blog explores whether hiring an SMSF accountant Melbourne is the right choice for you. What is an SMSF Accountant? An SMSF accountant is a financial professional
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Securing a business loan Melbourne can be a critical step for entrepreneurs and small business owners in Melbourne looking to start, grow, or sustain their businesses. With a range of lenders and financial products available, understanding the process and choosing the right loan can make all the difference. Nobel Thomas are well equipped to assist
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In today’s dynamic business landscape, organizations of all sizes seek professional expertise to manage their finances effectively. One essential area of support is business services accounting, a specialized branch of accounting that utilises a small business accountant to provide comprehensive financial management solutions for businesses. Defining Business Services Accounting Business services accounting refers to a
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For Australians pursuing higher education, the HECS-HELP loan system offers a way to fund tertiary studies and pay back the debt once their income reaches a certain threshold. But what happens if you move overseas? Are you still required to repay your HECS-HELP debt? Here’s everything you need to know. Understanding HECS-HELP Debt HECS-HELP is
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Starting your own business in Australia can be both exciting and rewarding. However, to set yourself up for success, you need to set yourself up properly. Making a mistake in the early stages can become costly down the track. This blog will guide you through the process of starting a business in Australia, from ideation
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Properly managing an inheritance is crucial to ensure it benefits you and possibly future generations. Here are seven critical steps to take when you receive an inheritance: 1. Pause and Reflect Grieving the loss of a loved one is an emotional process. It’s important to give yourself time to reflect and not rush into major
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