SmartFinance Compass

Superannuation Made Simple: Boosting Your Retirement Savings Superannuation Made Simple: Boosting Your Retirement Savings Superannuation is the backbone of retirement savings in Australia. In 2025, rule changes and contribution strategies give everyday Australians more opportunities to grow their nest egg. Superannuation is compulsory, but boosting it is your responsibility. What is superannuation? Superannuation (“super”) is money set aside during your working life for retirement. Employers must contribute at least 11.5% of your ordinary earnings in 2025, but voluntary contributions can accelerate your retirement savings. Ways to boost your super Salary sacrifice: Contribute pre-tax income to reduce taxable earnings. Government co-contribution: If eligible, the government matches personal contributions up to a limit. Spouse contributions: Contribute to your partner’s super and...

Australian Tax Deductions Most People Miss Australian Tax Deductions Most People Miss Thousands of Australians miss out on tax deductions every year. In 2025, new rules and digital record-keeping make it easier to claim—but only if you know what’s eligible. Claiming overlooked deductions can increase your refund or reduce your tax bill. Common deductions Australians miss Work-from-home expenses: Internet, phone, electricity (ATO fixed rate or actual costs). Professional subscriptions: Industry association fees, trade publications. Union fees: Annual union dues are deductible. Education and training: Courses directly related to your current job. Tools and equipment: Small tools under $300 can be claimed immediately. Protective clothing: Hi-vis, safety boots, sun protection for outdoor workers. Charitable donations: Must be to registered charities and over $2. ...

How to Build an Emergency Fund Without Stress How to Build an Emergency Fund Without Stress Unexpected expenses happen—car repairs, medical bills, job loss. An emergency fund gives Australians peace of mind in 2025. Here’s how to build one without feeling overwhelmed. Building a safety net doesn’t have to be stressful—start small and grow steadily. Why an emergency fund matters Covers unexpected expenses without debt. Protects against job loss or reduced income. Prevents dipping into long-term investments. Provides peace of mind and financial stability. How much should Australians save? Experts recommend 3–6 months of essential expenses. For most Australians, start with a first milestone of $1,000, then build gradually. Simple steps to build your fund Open a separate account: Keep it separate from daily spending. Automate transfers: Set...