Post Deployment Summary Checklist

This Checklist summarises the key points from your Post Deployment Financial Brief. Attending to the items described below will help you avoid many of the mistakes made in the past by ADF members after returning from deployment.

Budgeting
	Exercise discipline with your post-deployment finances by using the ADF Online Budget Planner
Taxation
	Always tell the Taxation Office the whole truth about your income, have proof of any tax deductions and only deal with a qualified accountant or registered tax agent.
Investing in Shares
	The higher the reward, the higher the risk. Remember to buy shares for the long term, purchase quality shares and diversify your portfolio. Consider investing in a managed fund with a financial institution.
Investing in Real Estate
	Buy real estate for its investment potential and treat any tax breaks as a bonus. Save for a healthy deposit to avoid lenders’ mortgage insurance. Remember the value of the property may drop. Do your homework on development proposals and strata records. Avoid high pressure sales pitches. Beware of guaranteed rent deals. Understand the risks associated with negative gearing. Consider how the purchase might affect your Defence housing entitlements. Consider the Defence Home Ownership Assistance Scheme.
Borrowing Money
	Before borrowing money, first consider paying off other debts such as pay day loans, personal loans, cash advances and credit cards. Consider not having a credit card, or at least find a credit card with the lowest fees and interest rates at www.ratecity.com.au. Home loan types include variable rate, fixed rate and hybrid and interest only. Margin loans can be a high return, but high risk, strategy. Try not to borrow money to buy a car, but if you must, find the best car loan at www.ratecity.com.au. Have a cash buffer for bad times.
Financial Advisers
	Watch the Financial Advisers – The Facts and the Fiction film (or use the Getting Advice e-Learning module) and consider whether you should see a financial adviser.
Protecting Your Assets
	Watch the Protecting Your Assets – the Legal Issues film and consider whether you should see a lawyer about updating your wills or powers of attorney.
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