There’s a time-tested financial principle that doesn’t look flashy on the surface but can work quietly in the background to help you build wealth while you go about your life. Compound interest can be the unassuming and reliable friend whom people never really noticed growing up but just hung around until one day – bam! […]
ANZ misconduct sees $240 million in penalties
The Australia and New Zealand Banking Group (ANZ) has come under scrutiny recently for serious failures in how it has conducted its business. The result? A record AUD $240 million penalty for the major bank – one of the largest ASIC has ever announced against a single entity to date. So what did ANZ do […]
Not just rich, but richer than others
There’s a Harvard University experiment[i] in which participants were asked which they’d prefer: a) a job where they earned $50,000 a year while others around them earned only $25,000 a year or b) a job where they earned $100,000 a year, while others earned $200,000 a year. The survey respondents were basically asked to choose […]
A dip into Nvidia’s deep dive
On Tues 28 January 2025 (AEDT) tech giant Nvidia’s shares plunged 17 per cent – its worst day on the market since March 2020 (which was early in the Covid-19 pandemic). To put that drop in Aussie dollars, that comes to a loss in value of almost $1 trillion. ($AU948 billion, or $US593 billion.) So […]
Court confirms no tax on gifts (even if it’s $33 million)
You’re likely in the spirit of giving this Christmas, but how’s this for generosity … Graziella Leong, an elderly supermarket matriarch in Vanuatu sent her Australia-based brother nearly $33 million in gifts over 10 years. Australia’s tax office claimed the money was “income” and wanted its cut, but a federal court judge has found […]