It’s been an exciting awards season at our parent company, Alteris Financial Group, and we’re thrilled to share the recognition that the team has received across multiple categories. These achievements reflect the dedication and expertise of the entire group when providing financial advice and support to our clients.

The Australian’s Top 150 Financial Advisers

A special congratulations to Kate Golder and Alex O’Brien, who have been recognised for their exceptional work in 2024 by being named in The Australian’s Top 150 Financial Advisers. This list, curated by Barron’s in partnership with The Deal, reflects the best in the industry, considering factors like client assets managed, revenue, and overall quality of advice.

IFA Excellence Awards 2024

Paraplanner of the Year – Finalist

Janice Prawira has been named a finalist for the IFA Paraplanner of the Year Award. After moving from Indonesia to Australia to study at the University of Wollongong, Janice earned a Bachelor of Commerce in Accountancy and has built a thriving career in financial services. As a paraplanner, Janice’s role involves completing research on products and strategies for client portfolios and writing meaningful and concise statements of advice. With over seven years of experience as a paraplanner, Janice excels in collaboration and attributes part of her success to the support of the Alteris team. Congratulations, Janice!

Self-Licensed Firm of the Year – Finalist

Alteris Financial Group has been recognised as a finalist for the IFA Self-Licensed Firm of the Year award. This honour reflects the dedication and professionalism of the team in advancing the financial advice profession. Being selected as a finalist underscores the group’s commitment to excellence and client success.

Aged Care Steps – Adviser of the Year Awards 2024

Aged Care Advice Program of the Year – Finalist

Alteris Financial Group’s Lifestyle and Care team were named as finalists for the Aged Care Steps – Aged Care Advice Program of the Year award. While they didn’t take home the award as they did in 2022 and 2023, the team were very proud to be recognised alongside other inspiring leaders in this field.

Women in Finance Awards 2024

Employer of the Year (SME) – Finalist

This award recognises financial services firms that demonstrate a strong commitment to gender diversity and the advancement of women. Alteris believe in creating a supportive workplace with initiatives like equal pay, flexible working arrangements, and tailored career development opportunities for women. Being a finalist highlights the commitment to fostering an inclusive environment that benefits both individuals and the business.

Women’s Community Program of the Year – Finalist

Alteris’ commitment to community engagement has been recognised, with Alteris Women named a finalist for the Women’s Community Program of the Year award. This award celebrates efforts to create impactful social programs for women, delivering tangible benefits to both the community and the business. Alteris proudly supports initiatives that make a meaningful difference in the lives of women across Australia.

The recognition Alteris has received across a diverse range of categories underscores the organisation’s dedication to excellence, innovation, and positively impacting the lives of its clients and community.

As a small business owner, you may find it difficult to justify taking time off. After all, your business demands constant attention, and you might worry about what will happen if you step away. However, taking a break can be one of the most beneficial decisions you make for your business.

In fact, regular holidays can lead to significant benefits, including process improvement and automation, while also rejuvenating your spirit. Let’s explore how taking time off can be a game changer for you and your business.

Operating at your peak

If you’re dragging your heels, the impact on your business can be profound. Constantly working without breaks can lead to fatigue, irritability, and a decline in both motivation and productivity. Taking regular time off is essential for maintaining your mental and physical health, allowing you to return to your business refreshed and ready to tackle challenges with renewed vigour.

Charge your creative batteries

When you’re deeply immersed in your work, thinking outside the box can be challenging. A change of scenery—whether it’s a beach, a mountain retreat, or a new city—can ignite fresh ideas and perspectives. Many business owners find that their best insights emerge during moments of relaxation, when their minds are free from the pressures of daily operations. Taking time off creates the mental space needed to brainstorm innovative solutions and strategies that drive your business forward.

Regular breaks also enhance decision-making. A refreshed mindset allows you to see the bigger picture and prioritise what truly matters for your business’s growth. This newfound clarity can help you identify potential pitfalls and opportunities that may have gone unnoticed while you were entrenched in daily operations.

Strengthening your team’s contribution

Taking a break isn’t just beneficial for you—it can also strengthen your team. Delegating responsibilities while you’re away empowers your employees, helping them build their skills and confidence. It demonstrates that you trust them to manage tasks independently, without constant oversight. Upon your return, you may find your team stronger and more cohesive, ultimately boosting overall productivity.

Moreover, by prioritising work-life balance yourself, you set a positive example for your team. This can encourage them to do the same, fostering a healthier and more supportive workplace culture.

Automate your processes

Planning a break can provide the perfect opportunity to consider how automation might improve your business processes. Many small business owners feel overwhelmed by repetitive tasks that could easily be automated. Use your time off preparation as a chance to research tools and technologies that streamline operations.

For instance, look into customer relationship management (CRM) software to manage client interactions or explore project management tools to keep your team organised. Upon your return, these solutions can continue to save you time and enhance your efficiency.

Tips for a stress-free vacation

While the benefits of taking a holiday are clear, the thought of planning one can be daunting. Here are some practical tips to ensure your time off is stress-free:

• Communicate clearly: Inform your clients and colleagues about your absence in advance. Setting up an out-of-office message can help manage expectations and redirect urgent inquiries to your team.
• Delegate wisely: Identify team members who can handle various responsibilities while you’re away. Provide them with the authority to make decisions and access to necessary resources. Trust is key here.
• Unplug and unwind: Resist the urge to check emails or take business calls during your holiday or arrange specific time you are available if needed. Create boundaries so you can fully enjoy your time off.
• Reflect and recharge: Use your holiday not just for leisure but also for reflection. Consider what’s working in your business and what changes you’d like to make when you return.

Holidays are not just an indulgence; they can be a crucial component of sustainable business success. From enhancing creativity to preventing burnout and improving decision-making, the benefits of taking time off extend far beyond personal relaxation. So go ahead—book that trip, recharge your batteries, and return ready to lead with renewed energy and vision.

When should the discussion about aged care commence? At what age should you start thinking about your aged care needs? The answer is simple, any age is the right time. Whether you find yourself in the early stages of retirement or well into this life phase, initiating conversations about aged care is important.

Starting the conversation while your loved ones are still in good health is a smart approach. Focus discussions on what support may prove beneficial or alleviate potential challenges in the future. While raising the subject may introduce a level of awkwardness, it provides your loved one with an opportunity to consider their priorities and provide you with instructions. These instructions provide guidance if you need to make choices on their behalf in the future.

Five things to consider

1. Addressing financial, family, and personal aspects early on can open up a range of options and help reduce stress when navigating aged care decisions.
2. Beyond residential aged care, consider alternatives like the Commonwealth Home Support Programme and Home Care Packages. These options offer varying support levels, allowing individuals to remain in their homes while maintaining independence.
3. Explore short-term respite options or alternatives to support family and friends in need of a break from the care and support they provide, allowing them focus on their personal wellbeing.
4. Review the enduring power of attorney, enduring guardianship, and Will to ensure they are appropriate and valid. This will minimise confusion and delays, along with any unexpected outcomes when they are required.
5. Alteris Financial Group’s Aged Care Specialist Advisers can provide more information around the various care options and support available. They will also help to clarify the various financial considerations, helping you to understand any immediate and long-term financial outcomes.

We’re here to help, every step of the way

Making an informed decision about aged care is important. Incorrect decisions can have far-reaching consequences for the entire family, potentially leading to conflicts. To learn more about how Alteris’ Lifestyle and Care team assists families in making informed choices at every stage of their aged care journey and achieve their preferred outcomes during emotional and stressful times, please contact the team.

At this time of year, when giving is on our minds, many people may turn their attention to how best to share their wealth or an unexpected windfall with loved ones.

You might be considering a lump sum to help with a major purchase or a business opportunity, or perhaps you’re eager to assist in reducing or clearing a loved one’s student loans. Alternatively, you may want to help them address a housing challenge.

Whatever the reason, it’s important to be aware of a few key rules to ensure that both you and your loved ones are protected.

Giving a cash gift

You can give anyone—family or not—a cash gift of any amount. As long as you don’t materially benefit from the gift or expect anything in return, neither you nor the recipient will need to pay tax on it.¹

The same applies if you’re planning to pay off your child’s student loans.

However, if the beneficiary of your cash gift is receiving a government benefit, such as unemployment benefits or a student allowance, be aware that there are limits on the amount they can receive without affecting their payments.

They can receive up to $10,000 in one financial year or $30,000 over five financial years, with no more than $10,000 allowed in any single financial year.²

Helping with housing

Many parents also like to help their children enter the property market, where possible.

The past few years have been challenging for many, with the COVID-19 pandemic, rising living costs, increasing interest rates, and a housing crisis.

A Productivity Commission report released this year found that while most people born between 1976 and 1982 earn more than their parents did at a similar age, income growth has slowed for those born after 1990.³

With money tight and house prices climbing, three in five renters don’t believe they will ever own a home, even though most (78 per cent) aspire to homeownership, according to data from the Australian Housing and Urban Research Institute (AHURI).⁴

Just over half of those surveyed (52 per cent) were renting because they didn’t have enough for a home deposit, while 42 per cent said they couldn’t afford to buy anything suitable, the AHURI survey found.

In this climate, parental assistance to buy a home isn’t just a nice-to-have—it’s becoming a necessity for many.

Moving home

Allowing your adult child—perhaps with a partner and family—to live rent-free in the family home is a common option, giving them a chance to save for a deposit.

An Australian survey found that one in ten people had moved back in with their parents, either to save money or because they could no longer afford to rent.⁵

If living under the same roof becomes too challenging, building a granny flat in your backyard may be an option. Of course, council regulations must be considered, permits obtained, and the cost of building or purchasing a kit factored in—but on the upside, it may add value to your home.

Becoming a guarantor

Another way to help might be to become a guarantor on your child’s mortgage. While this could be the best path into homeownership for many, it’s important to think it through carefully, understand the loan contract, and be aware of the risks.⁶

Remember, as a guarantor, you are responsible for the debt. If your child can’t repay the loan, you will be required to step in and repay it, and any default will be listed on your own credit report.

If you feel pressured to become a guarantor, it may be a sign of financial abuse. There are several avenues for advice and support if you’re concerned.

Obtaining independent legal advice before signing any loan documents is essential.

Whether you’re thinking about giving a financial gift, helping with housing, or becoming a guarantor, it’s important to navigate the options carefully.  For current clients, we encourage you to reach out to your adviser directly for personalised guidance. If you’re not yet a client and would like to learn how to support your children while safeguarding your own financial wellbeing, our expert advisers are here to help—contact us today.

Sources

i Tax on gifts and inheritances | ATO Community

ii How much you can gift – Age Pension – Services Australia

iii Fairly equal? Economic mobility in Australia – Commission Research Paper – Productivity Commission

iv Rising proportion of ‘forever renters’ requires tax and policy re-think | AHURI

v Coming home: 662,000 Australian households reunite with adult children – finder.com.au

vi Going guarantor on a loan – Moneysmart.gov.au

Welcome to summer—a season of activity, last-minute tasks, and celebrations with family and friends. We take this opportunity to wish you and your family a joy-filled and safe festive season!

While headline inflation eased to 2.8% in the September quarter, the Reserve Bank remains firm on interest rates. RBA Governor Michelle Bullock acknowledges that the drop in the cost of living may offer welcome relief for most of us, but the Board’s key focus is on trimmed mean inflation, which still isn’t “sustainably” within the desired target range of 2-3%. According to the RBA, it’s unlikely to reach that range until late 2026.

The share market reacted sharply to the Governor’s comments in the final days of a month that had seen several all-time highs. US President-elect Trump’s promise of 25% tariffs on Canadian and Mexican goods also contributed to the billion-dollar share sell-off. Nonetheless, the S&P/ASX 200 finished November 3.4% higher.

The Australian dollar also took a hit, driven by concerns over potential US tariffs and the RBA’s interest rate outlook. It fell to a seven-month low, dipping below 65 US cents near the end of the month.

In positive news, the ANZ-Roy Morgan Consumer Confidence Index, while slightly down, has remained above 85 points for six consecutive weeks—the first time in two years. Meanwhile, Commonwealth Bank projections anticipate a boost in sales for small businesses, driven by Black Friday and Cyber Monday sales and the upcoming festive season.

If there is something affecting your financial situation that you would like to discuss, please do not hesitate to reach out to our team.