Financial Education

Omniwealth receives award for Excellence in Finance

Omniwealth receives award for Excellence in Finance

Congratulations to our Finance team for achieving Top 20 status at AFG NSW's Excellence Awards, held on the 9th of August, 2019. Head of Finance, James Grima, was also one of three finalists for the Broker of the Year - Business category. Our Lending Specialists and...

Cash Vs. Finance in the Healthcare Industry

Cash Vs. Finance in the Healthcare Industry

One of the classic questions of asset investment is ‘cash or finance?’. Though the common belief in personal finance is that cash is generally better than credit from a spending behaviour, taking this as a default assessment in business context may not always lead to the best outcome.

New Financial Year Wealth Tips

New Financial Year Wealth Tips

Australia has some of the highest personal debt levels in the world and it is only increasing. Some of these debts are incurring interest at over 20% If you pay down this debt it means you are receiving a guaranteed 20% return on your money.

Being an expat and managing your finances overseas

Being an expat and managing your finances overseas

Record numbers of Australians are leaving to live and work overseas. Here are five top tips for Australians who have made the move. According to the Australian Bureau of Statistics, in the year ending 30 June 2018, 290,000 people left Australia to live overseas, an...

Want to increase your borrowing power by $100K?

Want to increase your borrowing power by $100K?

Many first-home buyers just can’t quite afford the property they want in Sydney and Melbourne. People seeking to buy in the inner-city suburbs that are well serviced by public transport should think about ditching the car. Maybe your car commitments are stopping your...

6 Tips for people preparing to work overseas

6 Tips for people preparing to work overseas

There are many things to consider when planning to move overseas for work.  It can be a daunting task to get your affairs in order and the following tips can ensure your financial and property affairs are taken care of before leaving Australia. Six tips to review...

So, what happens when your interest-only loan expires?

So, what happens when your interest-only loan expires?

Borrowers need to be ready for the cash flow effects of moving from interest-only loans to generally higher repayments on principal & interest loans. Omniwealth Finance suggests that borrowers work through its Interest Only Loan Expiry Checklist to ease the cash...

3 Tips for Better Budgeting

3 Tips for Better Budgeting

Welcome to 2018. Another new year to set new goals and make New Year’s resolutions to change some bad habit you feel guilty about and to start saving more money! Right? The start of a new year after holidays is always a good time to rethink what you want to achieve in...

Protecting your inheritance from Lenders

Protecting your inheritance from Lenders

The growth in use of reverse mortgages by asset rich, cash poor seniors is increasing rapidly. As is the awareness by their children that this new debt facility will decrease their inheritance. Seniors receiving their lump sum will mean that the house that now has a...

Establishing a Pet Clause in a Will

Establishing a Pet Clause in a Will

I recently helped a client complete a Will before she passed away from cancer, it was quite sudden. This client had no family in Australia however she did have a special companion, a cat named Millie, for whom she wanted to ensure a comfortable life after she passed...

Four quick tips to maximise your super

Four quick tips to maximise your super

Four Corners this week televised an excellent report on the Australian Superannuation system. The numbers are impressive. Australia now has the fourth largest pool of superannuation monies in the world topping just over $2.5 trillion dollars. Yet Australia ranks 53rd...

Turning your home into an investment may not be worth it

Turning your home into an investment may not be worth it

Being a strategy focused fee-for-service planner, I have many clients whom are in their thirties. Many of these clients made their first step into the property market by buying a unit. It’s not just a unit, this unit is their home. As time moves on – a couple becomes...

Getting the facts right on Exchange Traded Funds

Getting the facts right on Exchange Traded Funds

Over the last week conversations have continued with my clients about the recent share market drop. Several clients have asked what role Exchange Traded Funds (ETFs) have played? There are some commentators out there stating that the index approached used by ETF’s are...

AirBnB: Good income or tax trap?

AirBnB: Good income or tax trap?

AirBnB can create extra income for you and your family, however this can cause some adverse tax consequences.  Firstly, the income will need to be included in your tax return each year that you earn income from your property. However, a big potential down side is that...

3 Tips for better budgeting

3 Tips for better budgeting

I often hear many people say they intend to save more money. In an expensive city like Sydney “Murphy’s Law” often dictates that expenditure equals available income. Research by the ABS shows the top three expenditure items for Australian households as a percentage of...

5 Good habits to build wealth

5 Good habits to build wealth

According to the Reserve Bank of Australia, the average Australian earns $1,164 per week or $60,528 per year. Then, the average Australian saves 4.70% of their income or $2,844 per annum. Not much. You do not create wealth by saving money. Yet, I see many people...

Use superannuation to own your business premises

Use superannuation to own your business premises

Do you own a business? How much is the lease for your business premises? Often it will be thousands of dollars you are paying each month to the landlord. What if your business were to pay its lease to a property owned by your self-managed superannuation fund (SMSF)?...

A word on Impact Investing

A word on Impact Investing

Impact investing is an investment approach that intentionally seeks to create both financial return and positive social or environmental impact that is actively measured. But there is a challenge in meeting this request. How do we seek and invest in assets that...

Want to write a Will? Here’s what you need to get started

Want to write a Will? Here’s what you need to get started

A Will is a legal document that most notably sets out who is to receive your net assets on your death. If you die without a valid Will, you are said to have died ‘intestate’ resulting in the distribution of your estate according to the law of the State in which you...

Six tips to help improve the relationship with your bank

Six tips to help improve the relationship with your bank

1. Covenant reporting Almost all loans are subject to covenants put in place by the bank to monitor a business’ performance regarding servicing a loan. These covenants may be financial (e.g. interest cover or enterprise value) or non-financial (e.g. regular financial...

5 ways to get your kids out of home sooner

5 ways to get your kids out of home sooner

Are you resigned to the belief that your children are going to live with you well past completing their education? Or are you planning to teach them good habits so that they become financially independent enough to be able to support themselves sooner rather than...

General Advice Warning

We do not guarantee that the information in these articles is accurate or complete. You should not rely upon it and should seek qualified advice before making any investment decision. Except where liability under any statute cannot be excluded, we do not accept any liability (whether under contract, tort or otherwise) for any resulting loss or damage of the reader or any other person. 

Reach Us

Address

Australia Square, Level 22
264 George Street
Sydney NSW 2000

Phone

+61 9112 4300

Mail

GPO Box 7055 Sydney NSW 2001

Get In Touch

Share This