Hot Issues
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State and Federal COVID-19 support
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Lockdowns and mental health
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Unemployment rate falls to 12-year low
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ATO issues warning to first-time investors
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World's largest armies 1816 - 2020
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Extra 'super' step when hiring new employees
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Pitfalls and proposed changes in the use of R&D tax incentives
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Government expands SME loan scheme eligibility
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COVID-19 disaster payments to be tax-free: Prime Minister Scott Morrison
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‘Nowhere to hide’: New gig economy reporting regime set to debut
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Hardship priority processing of tax returns
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ATO Small Business Newsroom - July / August
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Videos and other resources for our clients
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‘Mammoth consequences’: ATO’s NALI ruling draws ire from accountants
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Superannuation Guarantee Rates Reminder
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NSW support measures, plus update for payroll tax.
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Tax Time Checklists - Individuals; Company; Trust; Partnership; and Super Funds
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Year-end tax planning
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Home Office & end of 2021 tax year
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ATO extends STP finalisation due date
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Super transfer balance cap increase from 1 July 2021
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ATO extends Division 7A COVID-19 relief
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Tax implications - more than one job
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Tax mix to rely more heavily on income tax as the Treasurer ducks austerity
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10% Super Guarantee from 1st July 2021
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End of year financial strategies
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Closely held payees: STP options for small employers
Article archive
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Quarter 2 April - June 2021
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Quarter 1 January - March 2021
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Quarter 4 October - December 2020
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Quarter 3 July - September 2020
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Quarter 2 April - June 2020
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Quarter 1 January - March 2020
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Quarter 4 October - December 2019
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Quarter 3 July - September 2019
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Quarter 2 April - June 2019
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Quarter 1 January - March 2019
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Quarter 4 October - December 2018
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Quarter 3 July - September 2018
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Quarter 2 April - June 2018
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Quarter 1 January - March 2018
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Quarter 4 October - December 2017
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Quarter 3 July - September 2017
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Quarter 2 April - June 2017
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Quarter 1 January - March 2017
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Quarter 4 October - December 2016
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Quarter 3 July - September 2016
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Quarter 2 April - June 2016
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Quarter 1 January - March 2016
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Quarter 4 October - December 2015
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Quarter 3 July - September 2015
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Quarter 2 April - June 2015
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Quarter 1 January - March 2015
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Quarter 4 October - December 2014
Quarter 4 of, 2015 archive
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FBT – Christmas Parties and Taxi Fares
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Merry Christmas for 2015 and Happy New Year.
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Common errors in claiming deductions for super contributions
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Employee Christmas Parties and Gifts – Any FBT?
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Collectables Require Action Now
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Why the ATO’s new powers make SMSF compliance more important than ever
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Self Managed Superannuation Funds – Is it for Retirement?
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ATO warns against misusing partnerships
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The Scammers Shame
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ATO offers SMSF 'unwinding' for aggressive tax arrangements
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Salary and Wages PAYG Shortfall
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SuperStream
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Australian Taxation Office (ATO) Telephone Scammers – BEWARE!
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Navigating the BDBN minefield
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SMSFs warned on emerging LRBA issue
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Short Access to Term Deposits
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Retirees taking super in lump sum is a ‘myth'
Short Access to Term Deposits

                   

Investors will need to provide the bank with 31 days notice if you access the funds in your term deposit before the maturity date.

Investors in term deposits will often be confused by the excessive detail provided (often after the deposit is made).  The bank will go to great length to explain how difficult it will be to redeem the deposit only.  Only rarely will this matter.

If you have less than 31 days remaining on your term deposit, the earliest you can access funds is at maturity.

If you don’t provide the bank with alternative instructions, on maturity, your term deposit will automatically roll over for the same term at the applicable interest rate offered on the maturity date.  This is often where the bank wins (and you lose).  The rate you chose on first investment will often be less than the rate for a different term.  So be alert and prepared to continually change the term of investment (as well as bank).

Exceptions are if you are experiencing hardship.