About Caitlin Jennings

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So far Caitlin Jennings has created 37 blog entries.

NSW COVID-19 SUPPORT PAYMENTS

The whole team at Jennings Financial Services hope that you and your families are staying safe and healthy during the difficult times with the COVID-19 Lockdown & Pandemic. We are always here to help and discuss any possible financial difficulties or stresses you are experiencing, however if you would like to seek additional information or help, we have listed some of the payments available below and websites to gather further information. COVID-19 disaster payment The payment helps workers who are unable to earn money due to a COVID-19 lockdown or hotspot. Available to eligible people in a Commonwealth-declared COVID-19 hotspot. Pandemic leave disaster payment You may be eligible for financial support if you can't earn money because NSW Health has directed you to self-isolate or quarantine for 14 days or you are caring for someone who has COVID-19. Test and isolate payment A one-off payment of $320 to help meet the cost of wages lost whilst self-isolating at home waiting for COVID-19 test results. The payment is [...]

By |2021-08-19T11:29:05+10:00August 19th, 2021|Community Activity, Tips and Other News|0 Comments

End Of Financial Year

End of Financial Year - Top 10 Tips for Business' Pay and clean up any super owing before 30 June Businesses must ensure they are paying employees additional superannuation. As superannuation is not tax deductible until it has been paid, it is also important to ensure all superannuation payments owing are completed before 1 July, this is a great way of reducing your income tax bill. Business owners should be aware of the cash flow implications of the change and make plans accordingly. Be aware of relevant tax changes It is critical you are aware of any relevant tax changes which typically come into effect at the start of a new financial year. Start by consulting your financial adviser or running a thorough search of the ATO for news and announcements. This will ensure you are well positioned to either capitalise on a positive change or prepared for an adverse change. Forewarned is forearmed. Get your tax-deductible expenses in [...]

By |2021-06-09T15:03:13+10:00June 9th, 2021|Community Activity|0 Comments

Summary of Federal Budget 2021/2022

How will the Federal Budget affect you? During this year’s Federal Budget announcement Treasurer Josh Frydenberg stated “Australia is back!”. The Budget proposes positive changes to superannuation, an extension of the low and middle income tax offsets and a boost to aged care services. Summary We’ve summarised some of the key points from the Budget below but, remember, these are subject to the passing of legislation: • From 1 July 2022, if you’re aged 67 to 74 you will not be required to meet the work test to make non-concessional contributions and salary sacrifice contributions to super • From 1 July 2022, you can make downsizer super contributions if you’re age 60 and over (currently you need to be age 65 or over). • From 1 July 2022, if you’re a first home buyer you can release up to $50,000 (up from $30,000) from your voluntary super contributions to help you buy your first home. • The low and [...]

By |2021-05-12T12:46:51+10:00May 12th, 2021|Market News|0 Comments

Helping your Children – Financially

As a parent you probably have great expectations for your child. They will have everything you had and more! You will consider their every need and make the most of every opportunity to help them get ahead, right?  Whilst every parent wants their child to be healthy, happy and financially secure, figuring out how to get them there is another thing. Working with a financial adviser can help you understand options available to financially help your children, and teach them how to take control of their financial future once it is time for you to step out of the equation, and them to step up. Introducing these discussions as a family from early on means you can get help for your children that will serve them well into their future. Savings It’s never too early to start a good savings system. If your child gets pocket money for helping out around the family home, birthday money and other small [...]

By |2021-04-13T12:20:17+10:00April 13th, 2021|Tips and Other News|0 Comments

Financial Advisor – Worth it?

Is It Worth the Money to Hire a Financial Advisor? Vanguard Study Calculates the True Value of a Financial Advisor Among the most common questions financial advisors hear is, “Why on Earth should I hire you when I can manage my own money? I have a Superannuation Account and if I want to make other investments there’s a ton of information and advice available on the internet.” We totally understand the question. Financial advice typically costs 1 percent of your portfolio per year. So, yes, people want to know if they are getting what they pay for. Vanguard, one of the world’s largest investment companies, has been examining this question for 15 years. Based on research, analysis, and testing, Vanguard has concluded that, yes, there is a quantifiable increase in return from working with a financial advisor. Vanguard calls this advantage the Advisor’s Alpha. When certain best practices are followed, the result can be an Alpha in the 3 percent [...]

By |2021-01-18T14:50:41+11:00January 18th, 2021|Tips and Other News|0 Comments

More than one super account?

Did you know there is over 10 (Source) million Australians with a superannuation account, approximately 36% of which hold more super accounts, which make up  $20.8billion in ‘lost super’. Is some of that yours? Find it Moved house? Changed jobs? Don’t know where your teenage self stashed your super? It’s easy to track it down. Consider Combining it Save on fees, reduce your paperwork, keep track of your hard earned money, grow your retirement fund. But seek professional financial advice first to make sure combining is beneficial for you. Ask your financial adviser Many websites offer to help find and combine your super. It is quick, easy and free. You can ask your financial adviser for help, check with your known superannuation provider or the Australian Tax Office. Grow it A professional financial adviser can help you find an appropriate superannuation fund that will grow your hard-earned income ready for your retirement – and the sooner you get on top [...]

By |2020-11-16T11:43:01+11:00November 16th, 2020|Retirement, Tips and Other News|0 Comments

Risks of moving to Cash…

The risks of moving to cash in times of crisis When it comes to investing through a crisis, are investors better off in the market or in cash? A look at 4 scenarios. As markets unravelled early 2020, there were few places for investors to hide. As the coronavirus spread at an alarming rate across the globe, equity markets sold off indiscriminately, causing many panicked investors to sell riskier assets in exchange for cash. Flight to cash Parting ways with equity investments at or near a market bottom isn’t a new trend. Many investors have approached equities with caution since the Global Financial Crisis (GFC) in 2008-09. During times of crisis, many investors who’ve worked their whole lives saving for retirement, start thinking about what happened during past recessions, such as the Global Financial Crisis (GFC). Memories of these prior events, coupled with the barrage of frightening headlines from media outlets, can make it tough to maintain a planned asset [...]

By |2020-11-04T11:34:17+11:00November 4th, 2020|Tips and Other News|0 Comments

Take Control Of Your Retirement

Are you affected by the increase in the Age Pension’s qualifying age? Take steps now to avoid getting caught short on retirement income. The minimum age to qualify for the Age Pension has started going up. For those born on or after 1 July 1952, the qualifying age increases by six months every two years until it reaches 67 in July 2023. It rises to 66 in July this year. So if you’re turning 45 this year and plan to retire when you reach 60, you will need to wait until you’re 67 before you can apply for the Age Pension. You’ll have to rely on your own savings and super in the interim, making it crucial to ensure you have enough money put away for later years. But the good news is that there’s still time to grow your retirement savings. Boost your super Contributing more to your super can be a reliable route to bolstering your retirement [...]

By |2020-09-29T13:17:03+10:00September 29th, 2020|Retirement|0 Comments

Australia’s Recession – Don’t Panic

Folks, these are scary times. So I give you the following seven reasons why you do not need to add to your list of worries the fact that Australia has just clocked up its sharpest decline in economic output on record. 1. It’s old news. The national accounts figures released on Wednesday refer to the value of goods and services produced in the months of April, May and June this year, when severe coronavirus restrictions were in place across the nation. It is entirely predictable those restrictions would mean that Australians were able to produce and sell a lot fewer goods and services during that period. 2. The figures are much better than originally feared. Until quite recently, both Treasury and the Reserve Bank had been anticipating a fall in gross domestic product (GDP) in the June quarter of about 10 per cent. It didn’t happen. It was only 7 per cent. That’s good news. 3. We have done much better than other countries. Britain [...]

By |2020-09-04T10:54:36+10:00September 4th, 2020|Community Activity|0 Comments

Looking after your Household Expenses

Take the pain out of managing your family’s finances. Taking care of household finances can be taxing, especially if you have a big family. But with proper planning and budgeting, there’s no need to stress. Here are some tips to help you effectively manage your household finances. 1 | Examine your finances Sitting down as a family and figuring out how much money is coming in and going out may help you gauge the state of your family’s finances. A clear picture of your household income and expenses could set you up to manage your cashflow better. 2 | Rein in spending Keeping expenses under control can be tough in a large household. But if you’re spending as much as or more than you’re earning, you might want to consider limiting your family’s discretionary costs by buying only what you can afford. 3 | Set financial goals Setting financial goals as a family may help you work towards future aspirations instead of [...]

By |2020-08-25T11:05:21+10:00August 25th, 2020|Tips and Other News|0 Comments
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