Blog

July 11, 2019
Have you lost your insurance cover?

From the 1st of July 2019 there were major changes to Insurance held in Superannuation.

July 11, 2019
Taxpayers receive a pay rise – tax cuts passed in Parliament

The Coalition’s promised tax cuts passed through both houses of Parliament last week.

July 11, 2019
Why it’s now a great time to review your home loan and borrowing options

Last week the Reserve Bank again cut interest rates (after also doing so in June), reducing the official cash rate to an all time low of 1%.

July 5, 2019
A day of celebrations at BCV

Our team enjoyed a day of celebrations here at BCV Financial Solutions. Including celebrating Stu's 20 year anniversary and EOFY.

June 27, 2019
Lending money to friends or family – should you do it?

What would you do if a family member asked to borrow money? Find out more here.

May 24, 2019
You’ve paid off your mortgage! Now what?

Paid off your mortgage? Woo-hoo! Break out the champagne and celebrate the freedom you must now feel! But once the dizzy excitement has passed, what will you do next?

May 24, 2019
Do you know your credit rating?

If you would like more guidance on how to reduce debt and improve your credit rating read more here.

May 23, 2019
Tax, superannuation & the economy: What does the election result mean?

Tax, superannuation & the economy: What does the election result mean? Find out here.

May 23, 2019
9 steps to a better retirement at any age

Simple ways to boost your retirement at any age, even if you're already retired

May 17, 2019
Want to give away your assets? There are rules.

If it’s crossed your mind to look at ways to reduce the value of your total assets to be eligible to receive an age pension benefit, you should be very careful. There are strict rules governing what you can give away and when.

April 26, 2019
What is a Comparison Rate?

When an interest rate is advertised on a home loan, have you noticed there is a comparison rate beside it? Many people just focus on the interest rate and don't notice the comparison rate.

April 26, 2019
Common Tax Deductions for Tradies

If you are a tradie (employee or contractor) then you are probably paying for things that you may be able to claim on your tax return.

April 18, 2019
Financial tips for single parents

Making ends meet can be difficult enough for two-parent families, but for single-parent families it can be even harder. With a few small steps you can be on the path to financial security.

April 18, 2019
Balancing Life, Work and Money

Work-life balance. It’s something everyone seeks but achieving it can seem an impossible task.

April 18, 2019
Single Touch Payroll is coming – are you prepared?

Join BCV Financial Solutions as we inform you of all you need to know about Single Touch Payroll (STP) and how it will impact your business.

April 18, 2019
Important tax planning strategies for 2019

Understanding what the potential tax liability will be for your business and allowing time for tax planning can save you thousands of dollars. At the very least, it will assist you in the preparation of your budgets and cash flow projections for the coming financial year.

April 4, 2019
2019 Federal Budget released

The 2019 Federal Budget was released on the 2nd of April 2019. Take a closer look at the article here.

April 4, 2019
A guide to home loan paper work

We have put together a guide for the paperwork needed for a home loan approval.

April 1, 2019
A reminder to update beneficiary nominations for your super

Updating your nomination of beneficiary for your superannuation fund may not be high on your priority list. But it should be.

March 28, 2019
How to protect your credit rating

If you think that being only a few days late making a payment on a loan doesn’t matter, think again. Even the smallest lapse could potentially affect your credit worthiness. Read the full article here.

March 12, 2019
What will the upcoming election mean for taxation and superannuation?

With a federal election looming, some predicting as soon as May, it’s timely to consider some of the legislative changes being considered by the major parties that may impact on taxation of individuals and small businesses.

March 12, 2019
Do you know your financial goals?

How well do you know your financial goals? Take the test now.

February 25, 2019
5 common financial mistakes people make in their 40's

We take a look at five of the most common financial mistakes people make when they’re aged in their 40's.

February 18, 2019
Financial pearls of wisdom

As we approach retirement some people start to panic a little wondering if they are truly looking forward to the time of their life when they no longer have to work. Instead of worrying, have a read of the following tips.

February 11, 2019
Good records save small businesses

Aside from the legal reasons, there are many financial reasons for making sure your books are in order.

February 8, 2019
The Banking Royal Commission and Mortgage Brokers – what’s it all mean?

No doubt you’ll have seen some media in the last few days regarding the recommendations arising from the Royal Commission into the Financial Services industry. But what does it actually all mean?

February 6, 2019
Life can change in an instant

We take a look at the long-term after effects of underinsurance. It not only details the financial consequences but the impacts on the health and social welfare of those left behind when the key breadwinner dies.

February 4, 2019
Everything you wanted to know about buying a home

Ready to make the leap from renting to buying a home? Well, before you begin the search for your perfect home there are lots of questions to ask yourself. Here are some of the big ones.

February 1, 2019
How debt consolidation can transform your finances

Credit cards are now a major source of personal financial debt in Australia. A recent report issued by ASIC indicated that one in six Australians are struggling under a mountain of debt that might never be repaid.

January 31, 2019
10 common financial mistakes before retirement

Many of us would like to think that ‘older’ means ‘wiser’, but when it comes to money that isn’t always the case. We highlight 10 common mistakes people make as they get closer to retirement.

January 25, 2019
The 9 golden rules of investing

Take a look at our 9 basic tips for all investors.

January 19, 2019
Why more investors are opting for brokers.

A recent survey conducted on Australian property investors revealed that they are increasingly turning to mortgage brokers for lending, with 75% of investors stating that they had used a broker, and 83% of investors intend to use a broker when seeking their next loan.

January 14, 2019
The business of farming

There is a need for Australian primary producers to view their farm as a business, where strategic planning and professional support play crucial parts in building a successful and sustainable business.

January 11, 2019
Wealth protection through the ages

Insurance plays an important role in any wealth creation and management strategy. There is little point in accumulating wealth if you don’t protect it, or yourself, from unforeseen risks that can undermine the best made plans.

January 10, 2019
Not ready to retire? This might be another option

If you’re close to reaching your preservation age you will soon have access to your superannuation. An increasing number of people at this stage are taking control of their finances and buying themselves a new later-life career.

December 27, 2018
Getting more out of income protection insurance

If you’re working and haven’t yet reached the point of financial independence then income protection insurance should be on your radar.

December 23, 2018
What is classed as a contribution to super?

We all want to retire with as much money as possible but there are limits on how much we can contribute into our superannuation funds and if we exceed them it can be painful.

December 20, 2018
Be different today so you can be different tomorrow

Every generation thinks life will be different – and of course, each one is right - but when it comes to planning for the future, while we’re young we have a habit of thinking there is still plenty of time.

December 14, 2018
When is a good time to retire?

We take a look at the 3 different options for funding "retirement" – age pension, non-super savings and superannuation.

December 10, 2018
“Tap and go” and then what?

It is commonly reported in the press that Australians are suffering under growing levels of personal debt. With the growing use of the easy “tap and go” technology it may look like it can only get worse.

December 3, 2018
Protect yourself through superannuation

We take a look at the advantages of keeping insurance policies within superannuation.

November 30, 2018
4 good places to stash your cash

If there is a good chance you will receive a tax refund this year or by being thrifty you have accumulated some extra cash in your everyday account, try to contain the temptation to splurge or celebrate; instead make it work harder for you.

November 29, 2018
Reclaiming your money from the government

We’ve all heard about the “lost billions” sitting in idle superannuation funds around Australia but are you aware of what’s happening to hundreds of millions of dollars sitting in “inactive” bank accounts? Read on, you may be very surprised.

November 15, 2018
How much money do you throw away?

Australians are literally throwing away coins rather than spending or saving them. This article highlights this issue and recommends some ideas to reduce wasting money; whether it is as coins or other expensive habits.

November 12, 2018
8 ways to help kids with their money

Attitudes and activities are changing much earlier than in previous generations, so, for the sake of their future well-being, it’s important to introduce your children to the intricacies of money management from an early age.

November 9, 2018
Good cash flow makes life easier

If you rely on your investments for income, an important aspect of managing your portfolio is cash flow. Correctly structured cash flow is critical, so let’s have a look at what you might need to think about.

November 8, 2018
Good records save small businesses

According to the Australian Taxation Office (ATO) many small businesses fail due to poor record-keeping. Aside from the legal reasons, there are many financial reasons for making sure your books are in order.

November 2, 2018
A place in-between

Not sure how to balance the transition between work and home life? Read the article below to find out more.

November 1, 2018
Veggie gardens are great for your wealth

Creating a vegetable garden is a boost for sustainability and is great for your taste buds and a healthier lifestyle

October 26, 2018
What you perceive you believe

When it comes to choosing to invest in property and shares, many issues are the same. Read this short article for more information.

October 26, 2018
Baby Budgeting

Welcoming a new family member is exciting but with so many aspects of your life changing, when it comes to your finances some forward planning can make the transition so much easier.

October 17, 2018
Working from home – is it better for your lifestyle?

The increase in home-based businesses has been monumental in the past decade with now almost one million Australians earning an income from home.

October 15, 2018
An important conversation

Older people tend to be very private around subjects like their finances, estate planning and aged care, etc. This article provides information around what you should be discussing with an elderly relative, and how to open a two-way conversation that puts everyone’s mind at rest.

October 8, 2018
Have a plan - just in case

It’s impossible to know what might happen in the coming months or years in your career or industry. Here are some points to consider that will put you in a better position - just incase.

October 7, 2018
Making your money work harder

Long-term savings plan, online savings accounts and fixed term deposits will not generate much growth. Managed funds, can have a higher potential to surpass cash and fixed term investments.

October 4, 2018
6 smart ways to build savings

Here are six simple tips to build up your savings.

September 26, 2018
A different way to help the grandkids

Many grandparents want to give their grandchildren a head start in life, either contributing towards their school fees or setting aside funds in an account. These are just some options, but there might be a better one.

September 24, 2018
Adult kids still at home?

Remember a time when kids couldn’t wait to leave home so they could have their own “pad”? Those days are definitely over with one and half million adult children now preferring to continue living with Mum and Dad well into their late twenties (and sometimes older!).

September 13, 2018
It’s never too early to start

When teaching your children to manage their money you are helping your kids grow into financially savvy adults. You might even learn something about your own money habits along the way.

September 3, 2018
5 simple ways to reduce your tax

Would you like to minimise the amount of tax you pay? Then check out these tips.

August 14, 2018
Design your own super adventure

Superannuation funds allow members a level of choice in relation to how the money is invested, which means it can be up to you to create what your retirement adventure might look like.

August 14, 2018
Take advantage of NOW!

Many young people in the X and Y Generations are earning excellent incomes but have little savings, excessive debt and consider the future too distant to be of concern.

August 7, 2018
3 ways to give your kids a head start

We explore how to give your kids a head start from a few different angles, depending on how you wish to help them.

August 7, 2018
Taking care of business

Owning a business has its distinct advantages. Choosing your work hours and being able to make decisions for your own future are just two, but this higher level of freedom takes a back seat when things go wrong… and as any business owner knows, things can and do go wrong just like in any other pursuit in life.

July 13, 2018
Preparing for tomorrow

Imagine you were no longer able to look after your financial affairs, or, less dramatically, simply found it an increasing burden to manage your money. How easy would it be for a trusted family member to step in and help you?

July 6, 2018
What is responsible lending and why does it matter?

Whether it’s due to over-enthusiastic lenders or desperate borrowers, failure to adhere to robust lending standards can land some borrowers in serious financial distress. In many cases the difficulties experienced by these borrowers could have been avoided if the lenders had complied with their responsible lending obligations.

June 15, 2018
Why Australian interest rates could stay low for decades… and what that means for your investments

Many investors fear the impact of a return to interest rates of 5%, 6% or even 7%pa that were considered normal just a few years ago. They worry about the impact on share and property markets, they worry about locking fixed rate term deposits and annuities and missing out on the big rate rises to come.

June 15, 2018
Take Control with Your Personal Wealth Portal

BCV are excited to announce the upcoming release of our new client wealth portal. Powered by state of the art app ‘My Prosperity’, our wealth portal will allow clients to:

June 15, 2018
Is it time to review your home loan?

In early June, for the 20th consecutive month, the Reserve Bank left interest rates on hold. That doesn’t mean you shouldn’t be reviewing your existing loans, or exploring investment opportunities. More often that not, there’s a better deal available, and we all know any saving is better in your pocket than the bank’s!

June 8, 2018
What is a market index and how might it affect your investments?

Investors who pay attention to the finance segment of the daily news may be gazing in awe at the performance of the US share market. Even taking into account the fall in early February, the Dow Jones Industrial Average has astounded veteran commentators worldwide with its monumental growth over the last 12 months. Meanwhile, the Australian All Ordinaries Index has yet to return to the height it enjoyed before the Global Financial Crisis at 6779.1 points.

June 8, 2018
Super in your 60s. It’s still not too late!

For most Australians, their 60s is the decade that marks retirement. For some this means a graceful slide into a fulfilling life of leisure, enjoying the fruits of a lifetime of hard work. However, for many it means a substantial drop in income and living standards. So how can you make the most of the last few years of work before taking that big step into retirement?

May 4, 2018
The secret to ‘living the dream’

We all, to a greater or lesser extent, have an idea of our dream lifestyle. So how, as a nation, are we faring? To find out, the Financial Planning Association of Australia (FPA) commissioned a survey of more than 2,600 people from around the country. The resulting Live the Dream report provides an insight into the extent to which we are collectively living our dream life and, more importantly, reveals key habits and characteristics of those who are already doing so.

April 27, 2018
Debunking the myths around tax-paid 'investment bonds'

An investment bond is a managed investment, usually operated by an insurance company or friendly society, where your money is pooled with money from other investors and invested in the investment options each investor chooses.

April 27, 2018
Australians at higher risk this year of being penalised for exceeding superannuation contribution limits

Changes to the superannuation rules in effect for the 2017/18 financial year are designed to further limit the amount of money Australians can contribute to the tax advantaged superannuation system.

April 20, 2018
Lower your tax liability

Would you like to save on tax? Use the extra money for a holiday or something you have planned for a long time? Here's how!

April 6, 2018
How to protect your credit rating

If you think that being only a few days late making a payment on a loan doesn’t matter, think again. Even the smallest lapse could potentially affect your credit worthiness.

March 18, 2018
Tax concessions favour small business

Every small business owner knows what it takes to turn a profit so when there’s an opportunity to increase profits by using tax deductions, grab it with both hands!

March 17, 2018
Building your ‘Family Future Fund’

How much does it cost to raise a child? Obviously the answer is highly dependent on individual circumstances. However, as a guide, a 2013 national study[1] found that a typical middle income family would spend about $812,000 on raising two children from birth to age 24. At that time child-raising costs were increasing at around 9% per annum, so it’s a reasonable estimate that these days the cost of getting two kids to the point where they’re ready to leave home (that’s not to say that they will) is closer to $1.1 million! And that’s a middle of the road figure.

February 22, 2018
Getting Your Bills Paid on Time

Running your own business can be extremely rewarding but there will always be times when it will be quite the opposite. Depending on the business, many factors will determine the success or failure of a small enterprise however the most common is cash flow. Outlined below are three very simple solutions to cash flow problems to help make your business ownership more rewarding.

February 22, 2018
Claiming Expenses on Investment Property

Rental properties often need upkeep and sometimes, more significant repairs. However, in the eyes of the Australian Taxation Office, not all types of expenditure are equal!

February 16, 2018
It's Never Too Early to Start

Children see money nearly every day, and as they become old enough to recognise the currency value on coins and notes they’ll want to start counting – just be mindful that very small children and coins don’t mix well. If you decide to give children pocket money or to pay them for doing age-appropriate chores, encourage saving by giving them a money-box. Get yourself a money-box as well and each time your child puts money away, do so yourself – and vice-versa. It could be fun!

October 18, 2017
One third of Australians are lazy borrowers and some are entirely clueless about their mortgages!

Australians have a reputation for being serious about sport, barbeques and cars, but when it comes to being serious about their home loans, one third of Australians are wading in the quagmire of lazy borrowing – and 11% of Aussies may not even know what kind of home loan they have!

October 16, 2017
Do you really know how much your business is worth?

Many businesses for sale are listed at highly optimistic asking prices. Most business owners find it hard to be impartial because they have poured a lot of time and energy into the business and they may be relying on selling it to fund their retirement.

October 10, 2017
Small business owners - would your business stay afloat if you had extended time off work?

Imagine if you were in the unfortunate situation where you had to take many months or longer away from your business due to a serious illness or injury. Would revenue keep coming into the business… or would the revenue dry up without you there?

August 16, 2017
How having no will, or an invalid will, can cause unintended problems for your loved ones.

A commonly held myth about wills is that if you do not have one, all your estate goes to the government. While that is not quite true, the reality may still surprise many.

June 13, 2017
Small Businesses with outstanding tax debts should prepare for looming disclosure to credit reporting agencies.

In a move that could affect the credit rating of small business owners, the ATO has announced that they will be sharing data with credit agencies pertaining to tax debts from 1st July 2017.

May 29, 2017
RentVesting – What is it and why has it become so popular?

RentVesting is where a person acts as a Landlord and a Tenant – by renting out a property they have purchased, and simultaneously paying rent for the place they are living in. There are two main categories people fall into when RentVesting – the ‘accidental’ and the ‘strategic’.

May 29, 2017
Should you get private health insurance?

With cost of private health insurance increasing every year, many people are asking themselves “is it worth it?” The answer to that is “it depends”. Ultimately, this decision is both an emotional and financial one. There are several factors to consider from a financial perspective when deciding to take out private health insurance – the ‘Medicare Levy Surcharge’, ‘Private Health Insurance Rebate’, the cost of the hospital insurance policy and ‘Lifetime Health Cover Loading’.

May 1, 2017
How much money are you placing at risk by not insuring your ability to earn an income?

Not many people risk being uninsured when it comes to their car or home. But many choose to not insure their most valuable asset – that is, their ability to earn an income.

February 7, 2017
A Guide to Home Loan Paper Work

We see many happy faces when we tell people that as your mortgage broker we can help simplify the paperwork process because we know what lenders are looking for when it comes to assessing an application.

February 7, 2017
How to Get Ahead On Your Home Loan

Just putting an extra $50 on your home loan repayment every month can save you close to $14,000 in interest over the life of a standard loan (based on a loan of $300,000, 5% interest rate and 25 year loan term) .

January 31, 2017
Home loans - fixed v variable, which is better?

Often clients ask us if they should switch their home loan from variable to a fixed rate. No one truly knows what will happen with interest’s rates, but benefits can be obtained by choosing the right type of loan at the right time.