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Financial Risk Management

Financial risk relates to any money flowing in and out of a business and is often characterised into four categories:

  • Market risk - a risk from the marketplace in which a business operates
  • Credit risk - the risk of losing money because someone fails to perform according to the terms of a contract
  • Liquidity/funding risk - risk you encounter when trying to sell assets or raise funds
  • Operational risk - covers all risks a business might encounter on a day to day basis, including: theft; fraud; and staff turnover.

Superannuation in Australia

Superannuation ('super') is a compulsory system of placing a minimum percentage of your income into a fund to support your financial needs in retirement. 

ASIC's Moneysmart provides information on:

  • Super in Australia and how it compares to systems around the world;
  • How money is paid into super;
  • Looking after your super;
  • Accessing your super;
  • Insurance through your super fund;
  • Tax and super.

Self-Managed Super Funds (SMSFs)

The Australian Taxation Office (ATO) provides information on self-managed super funds, including changes as a result of the 2016 Federal Budget. This includes a comparison of SMSFs and other super funds in the Australian context of: members and trustees; responsibility; insurance; investments; and regulation. 

The ATO also provides a wealth of SMSF videos on topics such as: setting up an SMSF; investments; and administration/wind up activities.