The bank of mum and dad is now Australia's fifth largest lender, with $35 billion a year flowing from parents to kids trying to get into property. Most of it completely undocumented and with no plan for how it comes back. Nick's seen it go wrong firsthand, and this is what both sides need to hear before any money changes hands.

On this episode, we discuss:

(00:00) Intro
(00:42) Australia's 5th Largest Lender Is the Bank of Mum and Dad
(04:29) $35 Billion a Year and 60% of First Homeowners Need Family Help
(05:58) Why Borrowing From Parents Has Zero Regulation
(07:34) What Can Go Wrong When Family Money Is Involved
(09:27) Why You Need a Loan Agreement Before Money Changes Hands
(10:41) Do Your Parents Need This Money to Retire?
(11:41) How Guarantor Loans Work and Why Parents Can't Sell
(14:26) How Going Guarantor Could Cost Your Parents $200,000 in Super
(17:44) A Real Divorce Case Where $100,000 Had No Paperwork
(18:33) Parents Should Ask the Same Questions a Bank Would
(21:58) How Gifts and Loans Can Impact Your Parents' Pension
(24:33) When Reverse Mortgages Make Sense and When They Don't
(26:44) Would You Do It? Nick's Answer as a Dad

Check out the free resources from Inovayt here.

Send us an email: hello@thenumbersgamepodcast.com.au

The Numbers Game is brought to you by Future Advisory & Inovayt.

Hosts:
Nick Reilly
Jason Robinson

This podcast is produced by VIDPOD.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The ATO is rolling out an automatic $1,000 tax deduction for millions of Australians, and it sounds like free money until you understand how deductions actually work. Jase has run the maths on what that $1,000 really puts back in your pocket at every tax bracket. Is this just another nice sell from the government, or is the box actually worth ticking?

On this episode, we discuss:

(00:00) Intro
(00:21) The $1,000 Auto Tax Deduction Explained
(00:57) Why a Tax Deduction Isn't a Tax Refund
(04:09) What You Actually Get Back at Each Tax Bracket
(05:29) The 70c Per Hour Work From Home Claim
(07:25) Why the Average Aussie Claims $3,500
(08:31) Should the Deduction Be a Sliding Scale?
(11:34) Easy Ways to Track Receipts and Kilometres
(14:27) Why UK Workers Don't Lodge Tax Returns
(16:08) When the $1,000 Deduction Starts
(17:03) Super Contribution Cap Rising to $32.5K
(19:51) Will the $20K Instant Asset Write-Off Stay?
(20:54) Book Your Accountant Before 30 June

Check out the free resources from Inovayt here.

Send us an email: hello@thenumbersgamepodcast.com.au

The Numbers Game is brought to you by Future Advisory & Inovayt.

Hosts:
Nick Reilly
Jason Robinson

This podcast is produced by VIDPOD.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The five-day work week hasn't changed since Henry Ford introduced it in 1926, and Nick reckons AI might be the thing that finally ends it. Thanks to AI productivity gains in service businesses are already real, and the question isn't whether people can get five days of work done in four, it's whether business owners will pass that time back or just pocket the margin. Do you think a four-day week could actually work in Australia?

On this episode, we discuss:

(00:00) Intro
(01:00) Henry Ford and the 5-Day Work Week
(02:44) Could You Do It in a 32-Hour Work Week?
(03:38) Where Your Work-From-Home Day Goes
(04:39) AI Job Losses vs a 4-Day Work Week
(06:03) Should Bosses Share AI Productivity Gains?
(12:00) Nobody Actually Works 5 Full Days
(18:07) Xero Made Us Faster, Not Freer
(20:27) Universal Basic Income and AI
(22:54) Who's the Next Henry Ford?

Check out the free resources from Inovayt here.

Send us an email: hello@thenumbersgamepodcast.com.au

The Numbers Game is brought to you by Future Advisory & Inovayt.

Hosts:
Nick Reilly
Jason Robinson

This podcast is produced by VIDPOD.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.