I've updated my free financial modelling tool for the proposed CGT, Negative gearing and other legislated changes
Over the past ~5 years, I’ve been working on a side project (Finstant) after leaving my career as a financial adviser to become a stay-at-home dad and focus on building software development skills.
The goal has been to recreate the kind of financial modelling tools I used professionally, but in a more accessible form as what I was familiar with cost $500+ per month and required paraplanning-level experience to use.
With the governments proposed budget/tax legislation now progressing through Parliament, I’ve finalised the changes so it now reflects the new legislation and you can see how your projected financial position looks following the changes.
While building it, I initially thought it might become a commercial product I could grow into something worth working on full time, but I haven’t been able to give it the time needed to take it that far, and as I'm looking to get back to work I’ve decided to just keep it as a passion project and free tool anyone can use.
If you’re interested in seeing how the proposed changes affect your current financial plans using your own numbers, it’s now fully up to date.
It also automatically generates and compares the kinds of strategies you’d typically see in financial planning, including:
- Additional debt repayment
- Investment (including gearing / debt recycling)
- Super contribution strategies (including transition-to-retirement strategies)
Link: Finstant
I've done my best to test it as thoroughly as I can but feedback is always welcome, especially if you see anything that doesn't look right in the output.
