Have you subscribed to the popularity of the podcast?

Have you subscribed to the popularity of the podcast?

Thanks to the internet we have so many options when it comes to the way we find information and how we choose to absorb it. The way we access content has also changed significantly over the past couple of decades.

Podcasts aren’t new, they predate the internet with the first known podcast, known as ‘audio blogging’, created back in the 1980s. This format allowed people to share their thoughts and opinions via an audible recording.

‘Podcast’ was coined by journalist Ben Hammersley in 2003 and exploded in 2005 when Apple™ added podcasting to iTunes and released a newer version of the iPod supporting audible content on-demand.i

Accessing content is easy

Podcasts are an easy and convenient way for us absorb information, especially when our lives and routines are busier than ever. Streaming is also easy - you can listen to them on different devices simply by downloading the app and episodes on your smartphone or via a web browser on your laptop, computer or tablet.

One of the most loved benefits, is that you can listen to a podcast virtually anywhere. If you are streaming a podcast on your smartphone you can listen to it on the go – whilst you’re exercising, cleaning the house, gardening, commuting to work, or driving in the car, and the good thing is, majority of the podcasts available you can download for free.

Some podcast creators will have advertising throughout their episodes which helps cover the cost of creating the podcast, allowing them to share their content for free rather than charging listeners to subscribe. Most popular podcasts release episodes weekly keeping their listeners engaged.

So many topics to choose from

With so many varied subjects and topics readily available, there is something for everyone - there are programs designed to improve your health and wellbeing, foster personal growth and professional development or you can simply download content specifically for entertainment purposes. For example, if you missed one of your favourite programs on a radio station, download it and listen on-demand, or rather than read a book you can download it and listen to an audible version.

Many businesses are also choosing podcasts as another way to communicate, educate and engage with their customers and clients. They can be short weekly episodes or longer and less frequent.

With the explosion in popularity, online communities have been formed for podcast creators and fans alike. This allows like-minded people to join a forum to discuss ways to create or improve their podcast or fans can chat to others about their favourite podcast.

Some of the most popular topics downloaded are - pop-culture, true crime, business and finance, comedy, health and wealth, news and sport, and technology-based podcasts – the choices are endless.

What are we listening to?

To give you an idea of what Australian’s are currently subscribing to, here are the most popular podcasts in the countryii:

West Cork – this non-fiction podcast focuses on the longest unresolved murder in Irish history.

Darling Shine – a weekly Q & A with Chloe Fisher & Ellidy Pullin for women about women.

Conversations (ABC) – with over 3000 episodes, this podcast covers topics from indigenous issues through to sporting triumphs.

Casefile – an award-winning true-crime podcast that investigates solved and unsolved cases globally.

Hamish & Andy – the comedic duo continues to make us laugh with their highly contagious podcast.

China – If You're Listening – this ABC podcast discusses the recent change in relationship between China and Australia and more.

She's on the Money – Victoria Devine hosts this highly relatable, easy to understand finance podcast for women.

Mamamia Out Loud – this covers a wide range of topics from beauty, pop culture through to parenting and the Kardashian’s.

Coronacast – stay up-to-date with the latest news and insights to help you live through the current pandemic.
As you can see, there is something for everyone!

Whether you’re a tradie, a retiree, small business owner, or a podcast lover in general there are podcasts out there that will motivate, educate, inspire, or simply entertain us all. Happy listening!

i https://brandastic.com/blog/why-are-podcasts-so-popular/

ii https://www.podcastinsights.com/top-australian-podcasts/

This article is intended as an information source only and to provide general information only. The comments, examples, words and extracts from legislation and other sources in this publication do not constitute legal advice, financial or tax advice and should not be relied upon as such. All readers should seek advice from a professional adviser regarding the application of any of the comments in this article to their particular situation.


What are the pros and cons of an SMSF?

What are the pros and cons of an SMSF?

Many Australians like the idea of managing and investing their own super. It can make a lot of sense too, but it's definitely not for everyone. We take a look at the arguments for and against setting up your own Self Managed Super Fund (SMSF).

Taking control of your super

People choose to run their own SMSF for many reasons. From a desire for flexible investment choices through to dissatisfaction with their existing super fund, tax and estate planning concerns.

According to a recent SMSF Association survey, many people’s desire for control over their personal retirement income goals and the ability to take control of their financial future are key motivators in the decision to run an SMSF.

For small business owners, the ability to invest in assets related to their business – such as their business premises – is also very appealing.

All these reasons are valid and may make it worth considering an SMSF for your retirement savings.

Benefits of your own super fund

Key benefits are having control over your investment plan and selection of the assets in which your retirement savings are invested.

As an SMSF trustee, you are responsible for developing your fund’s investment strategy, so you get to choose which investment approach to use to grow your money.

There may also be cost savings compared to using a traditional, large super fund.

An SMSF can also give you more flexibility when it comes to tax management and estate planning.

SMSFs can be time consuming

On the other hand, running an SMSF can require significant amounts of time to complete and lodge the necessary paperwork and to meet the strict compliance requirements for super funds.

We can help take a lot of the hard work out of running an SMSF for you and ensure you comply with all the rules. Failing to comply can result in significant penalties.

Although many people enjoy being accountable for their own retirement and tailoring their investments, achieving strong returns requires investment knowledge and skills, plus sufficient time to actively research and manage your investments.

It’s also worth keeping in mind the ATO is the main regulator for SMSFs, so you will have the tax man looking over shoulder.

Are SMSFs cost competitive?

There is no hard and fast rule about the amount of super you need in order for your SMSF to be cost competitive with a large public super fund. Generally, an SMSF is less cost effective if your fund has low member balances.

Smaller balance SMSFs are also less able to achieve sufficient diversification with their assets compared with larger funds, making it harder to spread your investment risk.

Aside from the establishment costs, running your own SMSF incurs annual costs such as the annual ATO supervisory levy, auditing and legal fees, any administrative tasks and any investment-related expenses.

SMSFs can be cheaper

Despite these costs, running your own SMSF can actually be cheaper than using an APRA-regulated super fund to save for retirement.

The SMSF Association’s Cost of Operating SMSFs 2020 report found an SMSF can be cost-competitive with industry and retail super funds when it has an asset balance of $200,000 or more, even for a fund paying for a full administration service. An SMSF with accumulation accounts and a total asset balance of $200,000 using this type of service generally has annual running costs ranging from $1,518 to $3,078.

SMSFs are even more attractive for large asset balances. In fact, the study found an SMSF with a total asset balance of $500,000 or more is generally the cheapest alternative when it comes to a super fund.

For people interested in running their own SMSF but with a balance of only $100,000 to $200,000, you will need to keep an eye on your administration costs and consider what you may be able to manage yourself.

SMSFs with less than $100,000 are not cost-competitive.

If you are interested in controlling your retirement savings, make an appointment to talk to us about us about whether and SMSF is right for you and how we can assist.

This article is intended as an information source only and to provide general information only. The comments, examples, words and extracts from legislation and other sources in this publication do not constitute legal advice, financial or tax advice and should not be relied upon as such. All readers should seek advice from a professional adviser regarding the application of any of the comments in this article to their particular situation.


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