Answer library

51 honest answers to real financial questions

Each answer gives you the general position first, explains what it depends on, and shows exactly where a professional adds value — the last 10%.

What Australians are asking right now

What about renters who work from a spare room — can I claim part of rent?Do I need an audit for my SMSF?is my financial advisor a fiduciary?Should I salary sacrifice into super on my income?should i refinance my home loan now?do i need income protection insurance?

Financial Planning

“Is my money being managed properly?”

How do I know if my financial planner is actually good?What should a financial plan actually contain?My financial planner charges 1% — is that fair?I inherited money and don't know what to do — where do I start?How do I check if a financial adviser is legitimate in Australia?

Insurance

“Am I actually covered?”

My insurance claim was rejected — what are my rights?Do I need income protection as a sole trader?How do I compare insurance policies without a broker?Is the insurance inside my super enough?How do I compare insurance brokers?

Home Loans

“Am I paying too much for my home loan?”

My broker says this is the best rate — how do I check?Variable or fixed — which home loan actually costs less?I'm self-employed — why do lenders keep rejecting me?How do mortgage brokers get paid — and does it affect my loan?Should I refinance my home loan?

Business & Asset Finance

“Should I borrow for this?”

How do I finance a work vehicle without wrecking cash flow?Chattel mortgage vs hire purchase — what's the real difference?My business needs equipment but I don't want debt — what are my options?What is a balloon payment — and should I use one?How do business loans affect my personal credit?

Accounting

“Am I paying more tax than I should?”

My accountant just does my tax return — is that enough?Sole trader or company — which saves more tax?What actually happens in an ATO tax audit?How much should an accountant cost for a small business?I need an accountant for my small business — what should I look for?

Tax

“Can I claim this?”

Can I claim my home office if I work 2 days from home?I have a side hustle — do I need to declare it?My employer didn't withhold enough tax — whose problem is that?When do I need to register for GST?Should I use a tax agent or lodge my tax return myself?

Bookkeeping

“Is my business healthy?”

Profitable but no cash — what's going wrong?How much should I put aside for tax and GST?When do I need a bookkeeper vs just using Xero?What is a BAS and how often do I lodge it?How do I know if my business is financially healthy?

Cybersecurity

“Am I exposed?”

My business got phished — what do I do right now?Do I legally need cyber insurance?What's the minimum cyber security for a small business?How do I spot a fake invoice scam?What is a notifiable data breach, and do I have to report it?

AI & Automation

“Can AI actually help my business?”

I keep hearing about AI for business — where do I even start?How much does it cost to build an AI tool for my business?Will AI replace my accountant?Is it safe to put client data into ChatGPT?What business tasks can AI automate first?

Audit & Assurance

“Can I trust these numbers?”

What does an auditor actually check?My business partner wants an audit — should I be worried?Do I need an audit for my SMSF?Audit vs review — what's the difference?Does my company need an audited financial report?Do I need an audit for my SMSF?

General Advice Warning. These answers are general in nature and do not take into account your personal objectives, financial situation or needs. Provided by Global Mutual Funds Pty Ltd (ABN 20 090 555 436, AFSL 222640). Financial Services Guide.