In this month’s newsletter, we begin with a summary of the ‘mini-budget’ delivered by Treasurer Josh Frydenberg—an economic and fiscal update, detailing the impact of the COVID-19 pandemic, and both the new and existing support provided to individuals, households, and businesses. Our animation illustrates the three-bucket approach to retirement investing—one strategy to help mitigate certain retirement-related risks, and provide for your retirement lifestyle needs and wants. Flexible working arrangements, such as remote working, are becoming more common—we explore the ins and outs of work-related home office expenses. The receipt of your annual super statement can often occur in August—we provide an annual super statement review checklist to help you with staying actively engaged with, and well-informed on, your super. Lastly, there’s a motivational video by entrepreneur Tom Bilyeu, which may be timely if you have received, or are expecting to receive, a tax refund this year, and are considering how to make the most of it.
2020 ‘mini-budget’: An economic & fiscal update
The Treasurer delivered a ‘mini-budget’ on 23 July 2020—an economic and fiscal update. In this article, we provide a summary of the update, inclusive of the main personal finance-related points.