In recent times many clients have been asking for alternative investments to be added to their investment portfolio – investments that offer the opportunity of good returns while behaving very differently to other types of investments. One of the investments identified is the export-driven agribusiness sector, an attractive alternative investment, particularly for high income earners. [...]
How Life Insurance Works
Life Insurance policies involve the transferring of risk from yourself to the insurer. Instead of you paying for the loss yourself the insurer agrees to compensate you for any losses that arise. When applying for an insurance policy the insurer will complete an assessment on the information you provide and will decide whether to accept the risk (and on what terms). You will then have to decide whether the terms the insurer offers meet your requirements. Be sure to read the product disclosure statement and any terms and condition statements.
To qualify for the age pension To qualify for an age pension, veterans’ pension or social security allowance an applicant must pass two tests – the Assets Test and the Income Test. Whichever test reduces the pensioner’s entitlement the most is the one that applies. The tests are designed so people with some savings but [...]
Carer Allowance is a Social Security payment paid by Centrelink to people who care for a “disabled adult”. In order for the carer to receive Carer Allowance, both the carer and the care receiver (the caree) must satisfy certain rules. There is no income test or assets test for Carer Allowance and the allowance is [...]
You can leave Australia while you are bankrupt but you must obtain your trustee’s written consent before you leave. Your trustee will need to be satisfied that you have legitimate reasons for the proposed travel e.g.: as a condition of your employment for compassionate reasons. Your trustee may impose written conditions when giving permission such [...]
What are assets? Assets or property are anything you own when you become bankrupt or anything you buy or receive before the end of your bankruptcy. Income you earn during bankruptcy is not included but will be taken into account in your income contributions assessment. More information is available in the pamphlet: Income Contributions Going [...]
What is an annulment? Annulment is the cancellation of bankruptcy before the end of the normal 3 year period. Bankruptcies are usually annulled: if the creditors’ debts and trustee’s expenses and fees have been paid in full, or if creditors have accepted an offer of something less than payment in full (a composition or arrangement), [...]
INCOME PROTECTION INSURANCE Income protection insurance is where the insurer will pay you a specified amount of money if you become disabled and unable to work. How Income Protection Insurance Works Income Protection Insurance policies involve the transferring of risk from yourself to the insurer. Instead of you paying for the loss yourself the insurer [...]