Indholdsfortegnelse for June 2024 i Money Magazine

EDITOR’S WELCOME EDITOR’S NOTE Tax. It’s probably not a subject that grabs you, but it is a subject that – if you’re across it -can enrich you. This is particularly true given that from July, most of us will have the stage three tax cuts edging up our pay. In this issue, we offer ways to ensure those extra dollars don’t get lost in your day-to-day spending but are wisely invested and grown. Ever practical, we also turn our expertise to this month’s big money move, preparing your tax return. Our cover story (page 34) is replete with the best preparations, strategies, deductions and deferments so you can maximise what you get back. Because every cent counts. And when it comes to spending, we have delved into ways to get what…

IVAN COLHOUN OUTLOOK Productivity is a topic where there appears to be considerably more talk than meaningful action. Australia’s performance has been very much in the news, with former and current Productivity Commission chairs advocating the Federal government adopts a more pro-productivity, pro-competition agenda, while at the same time sounding a note of caution about potential negative impacts on productivity from the government’s Future Made in Australia Act. Let’s take a closer look at what’s happening. Productivity is important because it’s within our control and enables us to lift incomes and living standards. The simplest – and most frequently quoted -measure of productivity in Australia is GDP per hour worked, which measures aggregate (real) output per labour input. The chart shows the trend in GDP per hour worked over the…

Have you seen an ad on Facebook, X or Instagram where a celebrity is raving about a get-rich-quick scheme or has been caught in a police sting? Recent examples involve Kochie being dragged away by the po-po with a caption claiming ‘David Koch didn’t know the camera was still recording… is this the end of his career?’; a frazzled entertainment reporter Richard Wilkins mid-arrest because he accidentally revealed some truth on morning television; and mining magnate Andrew Forrest enthusiastically endorsing cryptocurrency during an interview. But click on the link and you’ll be taken into a black hole of lies. You’ll be asked for your details, then you’ll be told about an investment opportunity and almost inevitably be directed to a convincing-looking website where you may end up handing over your…

MORE MONEY STORIES ON P44-56 Aussies pocket $672 a year by clicking cancel Households may be saturated with choice when it comes to streaming services, but many are giving their unwanted subscriptions the flick. According to NAB’s latest consumer sentiment survey, more than one in three people (37%) have reduced their streaming costs over the past three months – a 12% rise on the same period last year. The bank found that those who do manage to cut back save $56 a month, or $672 annually, on average. “Australians might be surprised to find out just how many subscriptions they’ve signed up to without even realising,” says Larna Manson, a retail customer executive at NAB. “Decluttering expert Marie Kondo put it best when she asked, ‘Does it spark joy?’ You…

National home values have recorded month-after-month growth since the market bottomed at the beginning of 2023, but there is a substantial divergence between markets. Research by CoreLogic, which looked at the performance of house prices in the two years before and after the Reserve Bank started lifting the interest rate in May 2022, revealed that house values in Perth, for instance, have rocketed by 25.7%. In fact, CoreLogic found that 97.3% of suburbs in Perth currently have record high house values. Nine of the top 10 suburbs for house price growth around the country during the period were also in Western Australia. At the other end of the spectrum, house values in Hobart have fallen by 11.2% in the past two years and values have declined in 98% of suburbs.…

PAUL CLITHEROE Q&A Q I am 57 soon and, after many years spent raising a large family, have recently started casual work. I have a matured investment plan sitting in an account, but because it is superannuation I am not allowed to access it until I am 60. My husband has good superannuation so we are planning to focus on growing it for retirement. We still owe $150,000 on our mortgage. Can I access my matured super funds now to put towards reducing my mortgage? Why do I have to wait until I’m 60? Won’t it save me money? Yours is an interesting question, Ruth. This, I think, is good news. As your birth date is after July 1, 1964, age 60 is when you can access your super. The…

PAUL CLITHEROE Q&A Q We have about $187,000 left on our home loan and about $157,000 in our offset account, with 13 years left on the loan. We’re interested in whether we should pay a lump sum off the loan limit, anywhere up to $50,000. Smaller repayments and paying it off earlier are both appealing as I’m earning a lot less due to starting my own business in the past two years. My husband is our main income earner, but he’s wanting to change jobs in the next year as well and will likely earn less. I’ve spoken with my bank and it said there was little benefit in paying offthe limit as the smaller repayments mean it will take a longer time to pay the remainder of the loan.…

Here are some handy hints for both sellers and buyers alike about why a receipt should be part of any transaction when buying a secondhand car, and what you need to know to write one. A receipt is an acknowledgement that a financial transaction has occurred between two parties when transferring ownership or paying a deposit on a vehicle. This is a common practice when purchasing a vehicle through a dealership, but it does not always occur in a private sale. Requesting a receipt for a transaction – whether it is a deposit or full payment on a secondhand vehicle – provides written confirmation for both parties that it has successfully occurred. A receipt will help to ensure that both parties have verification of the transaction; it helps prevent any…

Project HoPe might sound like a typical charity that provides resources and a sense of hope to people in need, but this one has a different beneficiary in its sights. Set up by Sydney vet Dr Sam Kovac in 2014, HoPe is an acronym formed from the words ‘HOmeless PEts’. Recognising the special bond between rough sleepers and their loyal companions, Project HoPe provides a range of services that enable companion animals to stay with their loved ones through thick and thin. As it says, “the homeless and their four-legged friends share a unique bond, solely depending on one another for companionship and emotional support”. The charity’s raison d’être is to care for the animals that support the humans. As such, it has several pillars: it provides free veterinary care;…

Who said tax time is boring? Here are five perfectly legitimate, and slightly wacky, deductions. LAUNDERING WORKWEAR If you are required to wear a compulsory uniform or protective clothing at work, you can claim the costs to launder, dryclean or repair the clothing. The ATO says a reasonable basis for working out your laundry claim is $1 per load if it only contains work clothing, or 50 cents per load if you mix personal items with workwear. COVID TESTS You can claim a deduction for the cost of a Covid test if it is used to determine whether you can attend work. A POOCH In very limited circumstances, you might be able to claim a deduction for the cost of buying and caring for a dog. Chapman says the two…

Once the cost of living eases, will the popularity of second-hand shopping fade? The experts say no. Lyndall Spooner, CEO of research and consulting agency Fifth Dimension, says the socioeconomic climate is just one of the drivers behind the rise in secondhand shopping. Anti-consumerism, environmentalism and a growing preference for unique items that set people apart is helping fuel the growth, along with the excitement of finding a bargain. The stigma of buying second-hand is abating as a result and Spooner expects the market to grow exponentially in the coming years. “The second-hand market has traditionally been seen as a way for people who are doing it tough to save money… well, that mindset has been flipped on its head,” says Spooner. “Second-hand items are now incredibly popular as we…

MICHELLE BALTAZAR BANKING Everyone’s familiar with the acronym GFC, which stands for the global financial crisis that originated in the US in 2007. While we are not on the brink of another GFC (knock on wood!), history is repeating itself on one particular financial metric: the number of missed mortgage repayments, which has gone up to a concerning level in the past 12 months. In May this year, Westpac said the number of its mortgage customers in hardship had doubled in the year to March. The figures are deceptively tiny – from 0.5% to 1.05% of its home loan customers are in distress. In its half-year results in May, the bank said it had about 18,000 assistance packages on its books for struggling customers. There are problems with credit cards,…

PAM WALKLEY REAL ESTATE Moving to the country became a trend sparked by the Covid pandemic when many of us could work from home, so living close to workplaces was no longer necessary. One of the biggest attractions was the affordability of housing in regional areas, and we could get more square metres for our money – not something to be sneezed at when our movements were restricted by lockdowns. In the post-pandemic world, when many bosses are urging us to return to the office, this trend to regional living has slowed, but a recent report, Roaring Regions – Top 10 Affordable Regional Areas 2024, from PRD Real Estate has breathed new life into the idea. We are now officially a $1 million country when it comes to house prices,…

The right way: shareholders reap big rewards A takeover doesn’t have to be large to be successful. In 2009, healthcare imaging software company Pro Medicus paid about $5 million for Visage, a North American software business that let radiologists view X-rays and other scans from their mobile devices in seconds, enabling them to make diagnostic decisions remotely. A takeover of that size would barely rate a mention. The technology was a game changer for the radiology profession, which is suffering from a talent shortage, allowing radiology groups to offer flexible working conditions. It proved its worth during the pandemic. Pro Medicus has been inking deals to use the technology with numerous large North American hospital groups and today Visage’s imaging software constitutes the majority of its revenue and is driving…

VITA PALESTRANT SUPER Millennials battling high rents, rocketing property prices and mountainous mortgages are unlikely to give their super much thought, with retirement decades away. At the same time, the Federal government’s super co-contribution has generous incentives that are hard to ignore. Sometimes referred to as ‘free money’, the co-contribution helps low- to middleincome earners put more into super. If you don’t have the spare cash to contribute before June 30, you could instead plan ahead, starting on July 1, and use some or all of your 2024-25 tax cuts. Either way, here are simple ideas to make it work. Currently, if you’re on an income of less than $43,445 and make an after-tax super contribution of $1000, the government will give you a super top-up of $500. The amount…

CALENDAR OF EVENTS Wednesday, June 5 GDP growth rate Thursday, June 6 Balance of trade Thursday, June 13 Westpac consumer confidence NAB business confidence Unemployment rate Tuesday, June 18 RBA interest rate decision Airfares come down to earth, but travellers face more turbulence More than two years after the easing of global border restrictions, travel is starting to look like something akin to normal. A post-pandemic normal. Take the number of Australians heading overseas. The latest data from the Australian Bureau of Statistics shows there were 1.72 million overseas departures in March. That was 40,000 more than in March 2019. Sydney Airport also reported that in the first quarter of the year, international traveller numbers had returned to 96.6% of their pre-Covid levels. Domestic traveller numbers, meanwhile, are about 90%…

MARK CHAPMAN TAX TIP The ATO has provided some additional information for taxpayers regarding the foreign resident capital gains withholding (FRCGW) regime. All non-resident vendors of real property (that is, land and/or buildings) are subject to the regime. This means that when they sell a property in Australia, the purchaser is liable to withhold 12.5% of the purchase price and pay this amount directly to the ATO as, in effect, a downpayment of the CGT liability that ultimately falls on the vendor. The scheme applies to all property sales of $750,000 or more. At a minimum, that means $93,750 being withheld from the sale and paid to the ATO unless there is an approved variation. The most common reasons why a seller may apply for a variation include: selling the…

The tide of money being lost to scammers seems to be ebbing, with the latest Targeting Scams report published by the National Anti-Scam Centre revealing a 13% drop in the total amount of money lost, although the numbers are still staggering. During 2023, Australians made 601,803 complaints and reported $2.74 billion in scam-related losses, down from $3.1 billion in 2022. “It is encouraging to see signs that our co-ordinated scam prevention, detection and disruption initiatives can stem the flow of funds to criminals and protect consumers,” says Catriona Lowe, deputy chair of the Australian Competition and Consumer Commission. Investment scams, which often involve fake celebrity endorsements or initial public offerings, were by far the worst, accounting for almost half of all money lost ($1.3 billion). However, that was $200 million…

MORE INVESTING STORIES ON P68-79 Index funds trump cash Could idle cash be put to better use by prospective investors? That was the question posed in an analysis by Betashares, which compared the recent performance of deposit accounts and a number of index funds. Between 2020 and 2023, Betashares calculated that Australian savers would have earned roughly $73 billion in interest on the cumulative $1.3 trillion held in deposit accounts over that period. That’s based on a 5.52% return from a rolling 12-month term deposit. Alternatively, if just 10% of those deposits had been allocated to equities instead, the investment could have grown by nearly the same amount, or even more, over the same period. For instance, $130 billion invested into the Betashares Australia 200 ETF would have grown by…

Q I am 60, living with my wife and two infant kids, currently not working. I am mortgage free and have super worth $400,000. I have $40,000 invested in the ASX and use Morningstar research. I have $350,000 in savings – what should I invest in? Should I use the $300,000 equity in my home to buy an investment property in regional NSW, such as Batlow? Well, Mick, I’ve got a great mate who lives in Tumbarumba, so I know the Snowy Valleys area but have never visited Batlow. Tumbarumba is going really well, but I’m going to leave the research on the Batlow property market to you. Pretty obviously, projected population growth, availability of work and access to health services, schools and other important things for modern life, including…

With a few notable exceptions, Western Australia is not highly regarded for its pinots. Castle Rock is challenging this perception, with its ‘A&W’ leading the way. It is a tribute by winemaker Rob Diletti to his parents, Angelo and Wendy, who established the winery in the cool sub-region of the Porongurups. It’s riotously aromatic with mulberry brambles, raspberries and black cherries, flavours that run long and succulent. It has impressive intensity, depth and finesse. PETER FORRESTAL…

PAUL CLITHEROE PAUL’S VERDICT YOUR QUESTION I am 39, and 18 months ago moved to regional NSW to be an owner-builder while running my sustainability consultancy (self-employed). I bought two one-acre (0.4 hectare) blocks side by side for $270,000 and $276,000, now valued at $375,000 each. Over the past year and a half, I have spent all my personal savings generated from my business ($220,000) building Mum a house on one block of land. We had a draftsperson design a house for her initially, although a few months later we had the Lismore floods. While we are in an adjacent area that was unaffected, we were unable to find a builder. Up for a challenge, we pivoted to a relocatable Queenslander as an owner-builder project. It required cash to fund this…

The ‘instant asset write-off’ allows small businesses (with annual turnover below $10 million) to claim an immediate tax deduction for plant and equipment costing less than $20,000. This provides a supersized tax break compared with depreciating the asset over several years. Tech items, such as computers, tablets and phones, as well as tools and equipment for tradies, office furniture and even some motor vehicles (provided the cost is less than $20,000, so it would likely mean a second-hand vehicle) can all be eligible for the instant write-off. “You need to have the item delivered and installed by 11.59pm on June 30,” says H&R Block’s Mark Chapman. “If you buy something now for delivery and/or installation in July, you won’t be able to claim the deduction this tax year.” The scheme…

SUSAN HELY FAMILY MONEY In estate planning, there’s one awkward question that older parents with adult children typically ask lawyers when drawing up a will or being the Bank of Mum and Dad: ‘How do we protect our assets in an inheritance?’ When their wealth is passed on, they don’t want their hard-earned assets ending up in a marital pool that can be split if the relationship between their kids and their partners fails. Even if the relationship is rock solid and the parents adore their child’s partner, they may still have concerns that something could happen, says Anna Hacker, a lawyer at Pitcher Partners with 20 years’ experience, specialising in wills and estates. They want the assets to support their own descendants, including adopted children or grandchildren, and not…

PHIL SLADE MIND GAMES Fair suck of the sauce bottle, fair dinkum, pay your fair share, fair go, fair crack of the whip. Alongside the image of the Australian drover and the passing of the pub test, our sense of national identity is inextricably linked with a core belief in egalitarianism and a ‘level playing field’. Everyone deserves a fair chance in life. So why do we have such trouble agreeing on a tax system that aligns with this ideal? Further, why is tax minimisation seen as ‘sticking it to the man’ and keeping what is rightfully ours? When it comes to tax, is fairness really fair? It seems that while we all want everyone to have a fair go, we don’t seem to be able to agree on what…

The Australian Bureau of Statistics’ Personal Safety report paints a painful picture: almost one in six women across the country has experienced economic abuse by a partner, with an estimated 1.6 million having their money and job opportunities either controlled or restricted. This economic abuse occurs when a person is subjected to behaviours or actions that are aimed at preventing or controlling their access to economic resources, thus causing them emotional harm or fear. Here are practical strategies that women in vulnerable situations can follow in the short, medium and long term. IN THE SHORT TERM • Create a budget. This is the first step to take control of your finances and understand where all your money is going. You can use a spreadsheet or app to track your income…

Kelly Kennedy, of BDO Australia, has seen early inheritances become more common in recent years as a way for parents to help their kids fund a property purchase. While noting the generosity of the act, she encourages parents to consider a few points before rushing in. 1 Can you afford it? “We’ve had clients who have gone guarantor for their eldest child and then wanted to help their second child, but to do that they were talking about selling their family home to bring in some cash. That’s very generous, but they’ve got to assess the impact to their retirement.” 2 How will your pension be affected? “Some clients think about giving their children money so that they might also be able to get some extra age pension. But you really…

ZACH RIAZ MANAGED FUNDS Geopolitical events such as wars are commonplace, unfortunately, and they are something investors will need to constantly grapple with when setting their short- and long-term investment strategies. Given the conflict in the Middle East, it may be worthwhile examining how markets have behaved during past geopolitical events. Specifically, I have looked at the performance of the S&P 500 index -among the most liquid and traded markets globally – around key geopolitical events. The data suggests long-term investors should look through these events, as the downside, on average, is manageable. On a much shorter time horizon, there may be trading opportunities for investors who are inclined that way. How much do geopolitical events impact stocks? The short answer is, on average, not that much. Bloomberg collated data…

SCOTT PHILLIPS BEST IN BREED You wouldn’t have to go far to find a share portfolio chock-full of Australian banks. They were, individually and as a group, responsible for incredible wealth creation in the past four decades, as they grew, merged and gobbled up market share. They have, as a result, ended up being lionised for their value creation for shareholders and bestowed with a reputation as quality wealth builders. Until recently. Indeed, over the past half-decade, share price appreciation has either been non-existent or very hard to come by. Compared with late 2007, the ASX Financials sector is dead flat in price terms (excluding dividends, which is notable, given these companies tend to pay out a lot of cash). In part, that’s due to that very reputation – share…

CHRISTOPHER NIESCHE Contributor If you don’t do so already, use a registered tax agent, such as an accountant. Most registered agents have special schedules and can lodge returns for their clients later than the October 31 deadline. This might not make tax time any easier, but it will at least let you put it off for a few months. It’s a particularly useful strategy if you’re likely to owe the ATO some money, although if you’re likely to get a refund you might want to do your return sooner rather than later. Read Christopher’s story on the takeovers game on page 72. NICOLA FIELD Contributor As a freelancer for close to 25 years, my biggest tip for anyone in the gig economy or running their own business is to set…

OH MY MIND CASSIE HAMPSHIRE When it comes to becoming a cashless society, there are so many pros and cons to weigh up. Sure it’s easy to whip out a card or tap and go using a smartphone, or pay bills online, but cash has its merits too. For many children, using cash is when they start learning the basics of maths and understanding the value of money. Cash is also a more effective way to manage a weekly budget than doing it online. When you can see the dollars and cents, you get more of a sense of how much you’re spending than when you’re simply moving sums of money from one online account to another. Hard cash feels more like your money than when it’s a number on…

BOOK OF THE MONTH THE LAST VICTIM by Tracy Hall (Hachette Australia, $34.99) I n 2017, Tracy Hall’s life went from fact to fiction overnight when she discovered the man she’d been dating for nearly two years, Max, was one of Australia’s most prolific conmen – Hamish McLaren aka Hamish Watson aka Hamish Maxwell. Suddenly ‘Max’ was gone, along with the $317,000 in life savings Hall had given him to invest. She shares what happened before, during, and after she unknowingly swiped right on a man who’d reportedly swindled people around the world out of an estimated $70 million. This book is a warning siren because, as Hall shows, anyone can fall victim to a scam and, at the same time, it’s proof that it is possible to create an…

The Federal government is being urged to do more to address the shortfall that Australians from non-English-speaking backgrounds have in their superannuation balances at retirement. An analysis conducted by the Association of Superannuation Funds of Australia (ASFA) found that there was a notable difference between the super balances of English-speaking Australians and the 2.7 million Australians from non-English-speaking backgrounds. “People from non-English-speaking backgrounds make up 16% of total super account holders in Australia and, unfortunately, their super balances are lower across every age group when compared with the general population,” says Mary Delahunty, ASFA’s chief executive. ASFA found that people older than 55, especially women, were most likely to be at a disadvantage. One measure suggested by Delahunty is that the government could increase the low-income super tax offset, which…

When you’re lying on the floor of your parents’ house in blistering pain from a back injury sustained on your last patrol in Afghanistan, things start to look pretty bleak. Combat veteran Angelo Leonardi had just been discharged on medical grounds from the Australian Army after back-to-back tours in East Timor, Iraq and Afghanistan. Along with bulging discs, herniated discs and hairline cracks in his lower back, the 23-year-old was wrestling with adjustment disorder and post-traumatic stress disorder – and had no idea what to do with his life. He’d joined the army at 19. “At the time, I felt really patriotic,” says Leonardi, who is of Sicilian descent. “I love Australia and I loved growing up in Australia – as hard as it is, it’s such an amazing place.”…

Q My husband is on a disability pension and I’m on a carer’s pension for him. He is going to receive an inheritance from his father’s will of about $95,000. Will we lose our pensions? I’m sorry to hear about your husband’s Dad, Tania. My commiserations to you both. There are two parts in answering your question. As I am sure you know, your pensions are determined by an income test. Let’s say you pop the $95,000 in a term deposit or high-interest account – that would earn about 5%, so some $4750 a year. This is roughly $180 a fortnight and as a couple you can earn $360 a fortnight, so if you have no other income, it will not impact your pension. Mind you, you would not lose…

On our radar: three gadgets that make life easier Thin tech What is it? Apple iPad Pro Apple has released its next generation of iPads into the wild, frontlined by the new iPad Pro. Available in silver or black, the latest ultra-lightweight Pro comes in two sizes: 13in (330mm) and 11in (279mm). Apple says the latter is the thinnest device it’s ever made – it’s about as thin as half a deck of cards. Powered by the new M4 chip, the iPad Pro also sports a higher quality tandem OLED screen for clearer videos and photos. It isn’t cheap, so alternatives are the new iPad Air range or the refreshed standard iPad. Cost: From $1699 (11in); $2199 (13in). apple.com/au/store Step up What is it? WalkingPad C2 foldable treadmill Getting in…

Ryan, you have been on quite an adventure over the past couple of years and have faced some quite unique challenges. I can answer your question in one word. Yes. The lifestyle you wish to have is achievable. But I know you would like more information. My editor would also be pretty cranky, as one-word answers are not much good for Money magazine. The reason I am confident you can achieve your goal of a dual country/city lifestyle is based on your age and what you have achieved to date. If you told me you were 68, I would struggle to give the answer you are hoping for. When it comes to success with money, a person’s trajectory with their personal finances and wealth creation is my best guide. First,…

In the last financial year, Australians were warned to expect a lower tax refund than usual, reflecting the end of low-and middle-income tax offset on June 30, 2022. The result was that the average tax refund for 2022-23 was just $1733, according to H&R Block’s Mark Chapman. He says we can expect much the same average refund this year. While it’s not a fortune, $1733 is still a handy windfall to help offset the high cost of living. 27% The estimated number of Australians who own cryptocurrency. Source: Independent Reserve Cryptocurrency Index (IRCI).…

Growing consumer awareness of fashion’s impact on the planet is well known to retailers, so more are offering to repair items that customers would otherwise throw out – at no cost. This seemingly generous offer is also a savvy marketing strategy. What better way to promote a brand’s focus on sustainability and highquality clothing designed to last? Nudie Jeans, for example, claims its wear-and-tear philosophy is about making jeans you’ll like so much you’ll hand them down to your children. As well, the Swedishborn brand’s jeans are made with organic cotton and its processes are transparent. For those jeans that can’t be repaired (a free service), customers can hand them in for a 20% discount on their next pair. The returned material is reused as patches for repairs or is…

Ruling from the grave by putting conditions in the will to restrict access to the inheritance can be problematic. For example, some people want their heirs to adhere to a religion and not stray from it, give up drugs, finish university or get married. “I often talk to people about how you need to balance those restrictions and say, what are the ones that are important? It could be this is for when you finish university. But tertiary education isn’t necessarily for everyone,” says Hacker. One popular condition is age. Hacker says the age to access an inheritance used to be 25 but it is ticking up to 30 these days as adults can take longer to mature financially. They may be able to access some money before 30 but…

ANTHONY O’BRIEN SMALL BUSINESS Tax time can be a challenge for small business owners who, unlike their employees, may be less likely to receive a refund. But five strategies can help to shift the tax dial in your favour. 1 Claim an instant write-off on new equipment Good news! The instant asset write-off for small businesses has had a last-minute reprieve. The scheme was due to end on June 30, but it was expected to be extended in the May Federal Budget. The threshold has varied over the years: at one stage it was $150,000 and during the pandemic it was removed altogether. But for the 2024 and 2025 financial years it’s $20,000. Small businesses, with aggregated turnover of less than $10 million, can immediately deduct the full cost of…

Association of Superannuation Funds of Australia (ASFA) 1800 812 798 (outside Sydney) 9264 9300 (Sydney) superannuation.asn.au Australian Communications and Media Authority 1300 850 115 acma.gov.au Australian Competition and Consumer Commission 1300 302 502 accc.gov.au Australian Energy Regulator aer.gov.au/consumers/making-a-complaint Australian Financial Complaints Authority 1800 931 678 afca.org.au Australian Securities and Investments Commission (ASIC) 1300 300 630 asic.gov.au Australian Securities Exchange (ASX) 131 279 asx.com.au CPA Australia 1300 737 373 (within Australia) +61 3 9606 9677 (outside Australia) cpaaustralia.com.au Do Not Call Register To reduce telemarketing calls 1300 792 958 donotcall.gov.au/contact-us/contact-details Fair Trading/ Consumer Affairs ACT: 132 281 NSW: 133 220 NT: 1800 019 319 QLD: 137 468 SA: 131 882 TAS: 1300 654 499 VIC: 1300 558 181 WA: 1300 304 054 Financial Counselling Australia National Debt Helpline: 1800 007 007…

Global X Bloomberg Commodity ETF The exchange traded fund, trading on the ASX under the code BCOM, provides exposure to a liquid, well-diversified basket of hard and soft commodities that are significant to the world economy and have low correlation with other major asset classes. It invests in a highly liquid, broad-based basket of commodities, including energy, grains, precious metals, industrial metals, softs and livestock. Perennial Strategic Natural Resources Trust The actively managed fund invests in listed and unlisted companies exposed to the resources industry. It can also invest in global shares (up to 20%) and unlisted shares (up to 20%), with most of the portfolio in Australian listed shares. It has exposure to commodities such as oil, gas, gold, uranium, lithium, rare earths and copper. Betashares Australian Resources Sector…

MARCUS PADLEY THIS MONTH If you pay capital gains tax (CGT), on June 30 the tax man will freeze your portfolio, add up all the capital gains and losses you’ve made this year, offset the losses against the gains and come after you for CGT on any net profit. If your accountant hasn’t mentioned it, this is a reminder that you can minimise (defer, really) your CGT liability this year by realising some losses as well as gains before the year end, rather than just holding on. Basically, if you have a net capital gain from stocks sold, or any other capital gain, you should now be looking through your collection of current holdings for any stocks with losses attached that you could sell now to offset any gains made…