RSM's talkBIG Podcast

In this special episode of talkBIG, host Andrew Sykes leads a panel discussion on the recent Federal Budget with a live audience.

Our expert panel includes RSM’s in-house economist Devika Shivadekar, financial expert Grace Bacon (Director, Financial Services), and tax specialist Tony Fulton (Director, Tax Services). Together, they analysed the details of the latest federal budget, providing insights and practical implications for various industries, businesses, and individuals.

Key Takeaways

• The federal budget for 2024-2025 focused on the cost of living, with tax cuts, energy bill relief, and additional rent assistance.
• The rising cost of utilities, particularly energy, was a major concern for both individuals and businesses.
• The budget allocated funds for green hydrogen and critical minerals production.
• The fiscal outlook has deteriorated, with projected deficits and rising net debt.
• The budget had limited incentives for business investment, except for an extension of the Instant Asset Write-Off for small businesses.
• The budget included measures to support individuals, including tax cuts, superannuation changes, and cost of living subsidies.
• The impact on interest rates will depend on consumer confidence and inflation trends.
• Compliance and wage compliance are areas of focus, with increased funding for the ATO.
• There were no significant changes to R&D incentives.
• The budget did not address the taxing of unrealised profits in super funds.

 If you would like a more comprehensive breakdown of the Federal Budget 2024, download a free copy of RSM's report here. 

Text us your questions!

Thanks for listening! Visit the RSM Australia website to ask the hosts a question. 

Whether you're working for a salary, managing your own business, or planning for retirement, inflation is having an impact on your finances. You need to understand that impact to make sure you adjust your financial strategy in the right direction. 

Special guest David Berthon-Jones joins us to discuss the impact of inflation as well as strategies for managing finances and investments in a high-inflation economy.

If you’re feeling the pinch of rising prices and wondering how to safeguard your financial future, tune in now.

📌Timestamps:

0:00 Intro

02:09 Generating profits through inflation

03:27 How does inflation impact the composition and allocation of investment portfolios?

06:22  Thoughts on the RBA lifting interest rates to control inflation

09:25  Finding the balance between risk and reward when adjusting portfolios for inflation

13:26 How much do investors change strategies during inflation?

15:24 What is a good, sustainable rate of return for a long-term investment?

18:22 What is the benefit of having a fund manager?

21:38 When is a good time to start building your wealth through investing?

24:37 What is the material value of getting financial advice?

About David:

 David Berthon-Jones CFA is a founding partner and Joint Chief Investment Officer at Aequitas Investment Partners. With a stellar career as a professional asset consultant and a portfolio manager overseeing a $3bn portfolio, David brings a wealth of knowledge and experience. David is responsible for macro-economic analysis and dynamic asset allocation processes across a range of reliable multi-asset and direct equity portfolios. He was also one of the expert contributors for our thinkBIG report – the SME guide to inflation and interest rate rises.

Please note: the information shared on this podcast is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Before making an investment or trading decision you should consult with your financial adviser & consider how appropriate the advice (if any) is to your objectives, financial situation and needs.

For expert financial advice tailored to your personal situation, please reach out to one of our wealth management specialists.

Text us your questions!

Thanks for listening! Visit the RSM Australia website to ask the hosts a question. 

Get ready for some money-saving strategies to help you stretch your hard-earned dollars. Join Andrew, Chris, and Young on the talkBIG podcast as they tackle the challenges of a high cost of living and rising interest rates. In this episode, the hosts reveal eight "accountant secrets" for smart money management and household budgeting. Learn about compound interest, paying yourself first, offset accounts, paying down your mortgage principal, and more.

We know that the rising cost of living can put a strain on your finances, especially when interest rates start climbing.  Whether you're a homeowner or renter, this episode is full of valuable tips to help you save on expenses and manage your finances effectively. From budgeting groceries to evaluating fixed rates versus variable rates, the talkBIG team has got you covered. 

Tune in now and start your journey towards financial well-being and a brighter future. Don't forget to like and subscribe for more money-saving tips.

Share your thoughts, questions, and stories with us through our website, social media channels, or email, and let your input shape future episodes!

Text us your questions!

Thanks for listening! Visit the RSM Australia website to ask the hosts a question. 

Looking to save money on your energy bill? Join hosts Andrew, Chris, and Young as they dive into the world of energy efficiency in this electrifying episode of talkBIG. Discover practical strategies that not only put cash back in your pocket but also contribute to a greener planet.

The talkBIG crew sits down with Jacob Elkhishin, RSM's National Leader for Resources, Mining, Energy & Sustainability to take a deep dive into energy efficiency. They delve into the global factors influencing energy bills and explore ways to reduce daily energy usage, from upgrading appliances to triple-glazed windows. Jacob also shares his  insights into ESG (Environmental, Social, and Governance) and its impact on business profitability.

Don't miss out on these energy-saving tricks that'll not only save you money but also enhance your long-term resilience. If you're tired of skyrocketing energy prices and eager to shrink your bills, tune in now.

Text us your questions!

Thanks for listening! Visit the RSM Australia website to ask the hosts a question. 

talkBIG season 2 episode 8: - Cyber security and IT for small business – with guest Darren Booth 

 Let's face it, cyber attacks have become so common that you can barely turn on the news without hearing about some sort of massive data breach. But don't worry, RSM is here to help. For this talkBIG episode, hosts Andrew, Young, and Chris sat down with RSM's National Head of Cyber Security and Privacy Risk Services, Darren Booth, to uncover some startling truths about the seedy underworld of cybercrime and how businesses can protect themselves from cybercriminals.

You'll be surprised to learn that your hacker is more likely to be working 9-5 in a call centre run by organised criminals than a teenage hacker operating out of their parents' basement. Plus, did you know that people and processes can be a bigger risk than your IT system?

With the recent data breaches of major Australian companies like Optus and Medibank still fresh in our minds, it's more important than ever to learn about the risks and how to protect your sensitive information. And maybe it's time to reconsider whether you need to keep some of that customer data in the first place.

If you're worried that tech talk will go over your head, don't! Darren and the talkBIG crew break it down in an easy conversational style that you'll love listening to. They cover some great tips on where to start with cyber security, how people actually get hacked (you might be surprised!), whether cyber insurance is worth it, and the consequences for a business that experiences a breach.

So what are you waiting for? Tune in now and get cyber smart with RSM and the talkBIG crew.

Text us your questions!

Thanks for listening! Visit the RSM Australia website to ask the hosts a question. 

In part two of our talkBIG double episode, Andrew, Young and Chris discuss the final four trends from our thinkBIG report on the 8 key trends impacting small businesses in 2023. If you're a small business owner or private contractor, you won't want to miss this.

First up, the talkBIG team talks about cyber security, and it's a big deal. Did you know that the dark web is now the third largest economy in the world? And a cyber crime is reported every 7 minutes! That's why it's crucial for businesses to safeguard their data and have a backup plan in case of a breach. It can cost a lot of money and even put you out of business. Don't take the risk of losing everything, tune in to learn how you can protect your business.

The next hot topic our hosts weigh in on is staff shortages. It's tough for small businesses to compete with the big guys when it comes to hiring. The talkBIG gang share some strategies to help business owners overcome this hurdle, such as using technology to automate tasks and free up your staff to focus on higher value work. They also discuss how you can showcase your unique selling points to attract top talent.

Cashflow is always a top concern for small business owners, but don't worry, there are more options than just taking out loans. Andrew, Young, and Chris suggest exploring government incentives and grants that you may be eligible for. With a bit of effort and research, you could find ways to boost your cashflow without taking on more debt. 

Finally, the talkBIG team talks about virtual CFO services, a great option for businesses looking to gain financial insights without hiring a full-time CFO. You'll learn how you can get financial analysis, identify risks and opportunities, and even negotiate with stakeholders and lenders. Plus, the insights gained from forecasting can help you decide if it's time to hire a permanent CFO or not.

So there you have it, the final four trends from the thinkBIG report, delivered straight to your ears. Don't forget to subscribe to our channel for more business and finance insights, and check out our library for previous episodes that will help you make smart business decisions to keep your business thriving.

Text us your questions!

Thanks for listening! Visit the RSM Australia website to ask the hosts a question. 

In this two-part episode of talkBIG, hosts Andrew, Young and Chris explore the big trends affecting small businesses in Australia in 2023 and beyond. If you own a small business, listen up because this episode is just for you. 

The world is changing fast, so it’s important for business leaders to reflect on their strategies and look for ways to improve. Obviously, knowing what to expect makes it that much easier to plan ahead. Earlier this year, RSM released an in-depth report which identified 8 trends changing the Australian business world in 2023. Our talkBIG panel discuss the report, talking about each trend and what it means for the average Aussie small business owner.  

In part one of this two-part series, the gang talks about some pretty important topics that could make or break your business. First up, they cover wage compliance and how to stay on the right side of the law when it comes to paying your employees. Trust us, you don't want to get caught out on this one!

Then, they delve into data privacy, discussing the hefty price tag that comes with collecting customer data. With data breaches on the rise and the government cracking down on privacy breaches, it's important to take data privacy seriously. Luckily, the guys have some tips on how to do just that.

Next up, they tackle the topic of digital business and how to give your business a digital makeover. With remote working becoming the norm, it's time to start thinking about how you can use technology to improve your business and save money.

Last but not least, they chat about data insights and how to use the data you collect to make smarter business decisions. By combining data from different sources and incorporating external data, you can gain valuable insights that will help you make informed decisions for your business.

Stay tuned for part two, where we cover the remaining four trends impacting small businesses in Australia.

Text us your questions!

Thanks for listening! Visit the RSM Australia website to ask the hosts a question. 

In a not-to-be-missed episode, the talkBIG hosts are joined by Julian Muldoon, Director and Founding Partner of 1Group Property who shares his insights into the state of the housing market in Australia and what we can expect to see throughout 2023. 

Housing, renting and the investment property market has become a hot topic in Australia. With the recent RBA rate hikes leading to higher mortgage repayments and shrinking property values, coupled with a widespread rental crisis, the state of the property market in Australia has never been more pressing.

 In this insightful discussion, Andrew, Young and Chris quiz Julian on the current state of affairs, exploring the challenges and opportunities facing both buyers and renters alike, and what we can expect to see unfold throughout 2023.

 Don't miss out on this essential discussion - tune in now!

Text us your questions!

Thanks for listening! Visit the RSM Australia website to ask the hosts a question. 

Everyone makes (and breaks) resolutions at the turning of the year. But with rising inflation and a looming recession, there are some financial new year's resolutions that will be essential to get ahead in 2023. talkBIG hosts Chris and Young chat to guest Andrew Fernance about setting and achieving financial goals, with expert strategies for making hard financial decisions. Whether you're managing your personal finances or the budget for your business, these tips will help you get ahead in 2023.

Text us your questions!

Thanks for listening! Visit the RSM Australia website to ask the hosts a question. 

Interested in the stock market but not sure where to begin? Special guest Louise Bedford shares her secrets to becoming a successful day trader. She talks about how to cut through the amateur advice that might get you into trouble, and navigate market volatility like a pro. 

Andrew, Chris, and Young have a riveting conversation with Louise about the intricacies of trading, the difference between trading and investing, and the comparative strengths of using technical analysis versus fundamental analysis to guide your decisions on the share market.

The information shared on this podcast is of a general nature only and does not take into account the objectives, financial situation or needs of any particular person. Before making an investment or trading decision you should consult with your financial adviser & consider how appropriate the advice (if any) is to your objectives, financial situation and needs.

_______________________________________________________________________________________

Louise Bedford is a best-selling author of five books on the stockmarket. She is a behavioural finance expert and has degrees in Psychology and Business. She’s been running the 6-month repeat-for-free www.tradinggame.com.au Mentor Program since the year 2000, and she’s also the founder of www.talkingtrading.com.au, a free weekly trading podcast.

Known as ‘the corporate executive who lost the use of her arms and achieved financial freedom by trading with a pen in her mouth’ – she will inspire you to achieve your trading best.

Text us your questions!

Thanks for listening! Visit the RSM Australia website to ask the hosts a question.