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Click here to read article – CFP Newsletter – October 2025

 

As 2025 draws to a close, the festive season is just around the corner and you know what that means?

Christmas party!

We’ll hopefully see most of you for a bite and drinks then.

 

What’s been happening?

From October 1, the government’s 5% deposit scheme came into effect which allows eligible first home buyers to be backed by 15% by the government.

Previously this was limited with annual caps and annual quotas. With no such restrictions anymore, we’ve seen a rise in property prices.

 

Scams on the rise

There’s been a notable spike in scams exploiting platforms, sending texts/emails and fake schemes online targeting vulnerable groups like Gen Z and the elderly.

Here’s some tips to keep alert:

 

1. 1. Verify before Trusting – Check the legitimacy of your contact through official phone numbers, emails or verified websites. If in doubt, call up your banks, agencies or companies you have received the communication from.

2. Guard your personal info – Keep bank details, passwords, and Medicare numbers private. Avoid sharing via text or email, and enable two-factor authentication on banking apps.

3. Check for warning signs – These include urgent demands, unusual payment methods like gift cards, “too good to be true” offers or poor grammar.

4. Use secure channels – Avoid clicking links for signing in. Access your bank or government portals directly via their official website or apps

 

Joint Accounts

For couples sharing finances, choosing the right account structure is crucial. Joint accounts, where both partners are equal owners, offer shared access and liability. In contrast, an account with one partner as the primary holder and the other as a secondary holder gives the primary full ownership and liability, with the secondary granted access.

A secondary holder setup can complicate matters, especially if the primary becomes incapacitated (e.g., illness or death). Without equal ownership, the secondary may lose access or face delays in managing funds, as banks require legal processes like probate. To avoid this, ensure joint accounts are truly co-owned with “either to sign” access.

 

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Important Updates

Staff	Kelli is now back from medical leave
Holidays	The office will be closed from 22nd December – 4th January for the Christmas break.   Our Christmas party will happen on 11th December, we’ve attached our invite and look forward to seeing you