In case you missed the cues: the ATO is in crackdown mode. Its pre-end of financial year communication caused a surge in people filing their tax returns early this year, prompting the ATO to subsequently warn people to ensure they ‘get their returns’ right rather than rushing them.

The question most often posed to financial planners and accountants is: ‘How much money will I need to retire?’ The answer is not simple. But there is a basic formula for success. And that is, to plan your retirement well in advance.

A lot of people don’t understand the difference between a financial planner and an accountant. And to be fair, both have complementary skill sets, and in fact, some of their areas of expertise overlap from time to time.