SmartFinance Compass

Renting vs Buying a Home in Australia: 2025 Outlook One of the biggest financial decisions many Australians face is whether to continue renting or make the leap into homeownership. In 2025, the answer isn’t so straightforward — with rising interest rates, high property prices, and changes in rental laws, it depends heavily on your goals and circumstances. 🏡 The Case for Buying Equity building: Every mortgage payment builds long-term value. Stability: You’re not at the mercy of landlords or rent increases. Tax benefits: First home buyer grants and stamp duty concessions still apply in many states. 🏠 The Case for Renting Flexibility: Easy to relocate for jobs or lifestyle. No maintenance costs: Landlords cover major repairs. Lower upfront costs: No large deposits or mortgage stress. 📊 Financial Comparison: 2025 According to Domain , the median house price in Sydney is still above $1.2M, while average rent sits at $750/week. Mortgage repayments can...

Tax Deductions You’re Probably Missing as an Aussie Tax time in Australia can feel overwhelming, but it’s also a golden opportunity to legally claim back money you're entitled to. Many Aussies miss out on deductions every year simply because they don’t know they exist. 💼 Commonly Missed Tax Deductions in 2025 Working From Home Expenses: Claim electricity, internet, and a portion of your rent or mortgage (if applicable). Union Fees and Subscriptions: Professional memberships related to your job are deductible. Tools & Equipment: If you use them for work, you can claim depreciation or outright cost. Self-Education: Courses that directly relate to your income can be claimed. Mobile Phone Use: Partial deduction based on work-related usage. 🔍 How to Track These Deductions Use tools like MYOB or Hnry to automatically track eligible deductions and generate reports for your accountant or the ATO. 🧾 Claiming Tips Keep digital receipts and log usa...

Side Hustles That Actually Work in Australia (2025 Edition) Looking for extra income in 2025? You're not alone. With the rising cost of living, many Australians are turning to side hustles to supplement their main income — and it’s working. 💼 1. Freelancing on Fiverr or Upwork If you have skills in graphic design, writing, translation, or even voiceover — platforms like Fiverr and Upwork offer instant access to a global marketplace. 🧹 2. Local Gigs via Airtasker Whether it’s assembling furniture or delivering groceries, Airtasker lets you earn by doing local jobs in your free time. 📋 3. Paid Surveys & Market Research Websites like Octopus Group and PureProfile offer legit paid surveys. Some users make $50–$150/month consistently. 🚗 4. Rideshare or Delivery If you own a car, consider Uber, DoorDash or Menulog. Flexible hours, good weekend rates. 🎥 5. TikTok & YouTube Side Projects Even small niche creators in Australia are making real money throug...

How to Improve Your Credit Score in 30 Days Your credit score plays a major role in your financial life — from getting approved for loans to unlocking better interest rates. The good news? You can start improving it in just 30 days. 📌 What Affects Your Credit Score in Australia? Payment history: Late payments can significantly harm your score. Credit utilisation: Using too much of your credit limit impacts your score negatively. Number of inquiries: Too many credit applications can reduce your score. Credit mix: A good balance of credit types (credit cards, personal loans, etc.) is helpful. ✅ Step-by-Step Credit Score Improvement Plan Check Your Credit Report: Use free tools like Credit Savvy or Equifax to check your report. Dispute Any Errors: Inaccurate listings can be corrected to improve your score. Pay Off Overdue Accounts: Bring your accounts current immediately. Reduce Credit Utilisation: Aim for under 30% usage of your credit limits. ...

Beginner’s Guide to ETF Investing in Australia Exchange Traded Funds (ETFs) have become one of the most popular investment vehicles in Australia. They offer low fees, broad diversification, and access to global markets — all with the ease of stock trading. If you're new to ETFs in 2025, this guide is your perfect starting point. 🔍 What Are ETFs? ETFs are investment funds that trade on stock exchanges, similar to individual shares. They typically track an index, commodity, or sector, and provide a simple way for everyday investors to diversify their portfolios. 🇦🇺 Why Australians Are Investing in ETFs Low management fees compared to traditional mutual funds Access to international and local markets Flexibility to buy and sell like regular shares Tax efficiency due to lower turnover 🧠 How to Start Investing in ETFs in 2025 Choose a Brokerage Platform: Recommended platforms include eToro , Sharesies , and SelfWealth . Research the ETF: Understand its...

Is Salary Sacrifice Worth It in 2025? A Simple Guide Salary sacrifice is a powerful but often misunderstood financial strategy. In 2025, more Australians are exploring how to legally reduce their taxable income and grow their retirement savings. But is it the right move for you? What Is Salary Sacrifice? Salary sacrifice (also called salary packaging) is when you agree to forgo part of your before-tax salary in exchange for benefits like extra super contributions, car leasing, or even work-related expenses. This reduces your taxable income, which may mean you pay less tax. Top Benefits Lower Tax: You reduce your taxable income, potentially saving thousands each year Boost Super: Extra contributions can compound over time for a better retirement Flexible Options: Packages can include electronics, novated leases, and more Drawbacks to Consider Reduced Take-Home Pay: You’ll have less money in your pocket now Limits Apply: Concessional super contributions a...