Bushfire Relief - Helping our fellow Australians

14 January 2020

Bushfire Appeals

 

As I'm sure everyone is aware, the bushfires across Australia have been devastating communities all over. From houses to forests, humans to animals, the bushfires have had an affect on everyone's lives.

Costs of the bushfires are approaching $100 billion, with the bushfires being Australia’s costliest natural disaster. An estimated 10.7 million hectares have burnt so far – this is an area the size of South Korea or Scotland and Wales combined

An estimated
1.25 BILLION animals have been killed as a result and this number is sadly climbing every day.

There are a number of organisations that could use your help.

If you'd like, you can donate to the Queensland Rural Fire Service to help our brave firefighter men and women by following this link:
https://www.fire.qld.gov.au/about-us/frontline-services/rural-fire-service-queensland/donations

Or you can donate to WWF Australia in aid to the support and care for thousands of injured wildlife by following this link:
donate.wwf.org.au

 

Claiming your donation as a tax deduction

Your donation to some of the organisations may be regarded as a claimable tax deduction, as long as it meets certain conditions.

There are four main conditions to be met in order to claim a tax deduction:

  • Make the donation to a Deductible Gift Recipient (DGR)
  • Must be a genuine donation*
  • Must be money or property
  • Must keep a record of donation (e.g. receipt)

* A donation is a voluntary transfer of money or property where you receive no material benefit or advantage

What is a DGR?

A deductible gift recipient is an organisation that can receive tax-deductible gifts or donations.

Not every organisation raising money will be a DGR. Take crowd funding platforms, for example, often these are individuals or organisation raise money for a personal cause. These are not a DGR.

You can check if the organisation you are thinking of donating towards is a DGR by logging onto the Australian Business Register Website: abn.business.gov.au/DgrListing.aspx

What can’t you claim?

 

  • Raffle tickets (e.g. Prize Home)
  • Fundraising items (e.g. Chocolate Fundraisers)
  • Cost of attending Fundraising Dinners
  • Payments to School Building Funds
  • Gifts to family and friends

 

If you want your donation to be tax-deductible, go to the DGR website mentioned above. Type in the organisation you want to donate to. If the DGR state’s the organisation is a DGR than any donations over $2 will be tax-deductible.

If the DGR states the organisation is not a DGR then there will be no tax deduction, however, I am sure that organisation will appreciate your generosity and support.

For small business out there, the Regional Investment Corporation (RIC) has announced a
drought loan package to supply small business with $500,000.

Remember, some things in life are more important than a tax deduction. Dig deep and generously donate to those organisations that so desperately need our help. It’s the Australian way.

From the team at Mulcahy & Co, our thoughts are with those affected by the bushfires and we are thankful to all the brave men and women fighting the fires.

 

Katrina Hoiberg

Accountant
Sunshine Coast office

Latest News

Behavioural Finance when investing
6 November 2026
Starting From Scratch - Week 3: Behavioural Finance Watch the video on this page or listen to the podcast on our website, on Spotify or on Apple Podcasts. Listen to the full episode on the FS360 podcast . In the first two weeks of this series we covered the technical side of investing: the different ways to invest (direct shares, ETFs and managed funds), then risk versus return and the main asset classes. This week is about the human side. Even with the right knowledge and a well-built portfolio, the thing that most often derails investors isn't a lack of information. It's emotion. That's what behavioural finance is about: understanding the psychological influences behind our decisions to buy, sell or sit still. And one of the biggest things a financial planner can do for a client is simply keep them in check when emotions start to drive their money decisions. So, what is a bias? A bias is a mental shortcut. It feels logical in the moment, but over time it can lead to poor decisions. Traditional investment theory assumes we're all perfectly rational. We're not. Even the share market itself can be an irrational place. Take a large company that reports earnings slightly below expectations. The share price can fall several percent on the day, even though the underlying value of the business hasn't really changed. Plenty of investors sell on emotion rather than on the numbers. Here are the biases that matter most for people just starting out. Loss aversion: why a 10% fall hurts more than a 10% gain feels good Most of us feel losses more strongly than gains of the same size. It traces back to our fight-or-flight wiring: our first instinct is to avoid danger, and only then to chase reward. In investing, that often shows up as selling during a downturn just to stop the discomfort. We've seen it through the dot-com crash, the GFC, COVID and more recent geopolitical shocks. The trouble is that selling can lock in the loss, and it often leads to risk aversion as well. Having been burnt once, people become reluctant to go near growth assets again. Over 30 years, the gap between someone who stays invested and someone who keeps stepping out of the market is stark. Every time you sell and re-enter, you interrupt the compounding that does the heavy lifting. Recency bias: assuming the recent past will continue This one comes up all the time, and it can apply to nearly anything. Over the past 20 years, the top-performing asset class has very rarely been the same two years running. Last year's winner is not a forecast. The fix is simple, if not always easy: zoom out. You're probably investing for decades, so look at a longer sample than the last year or two. Confirmation bias: finding the evidence we like Almost everyone is guilty of this one if they're honest. Once we've decided something is a good idea, we go looking for reasons to back ourselves up and quietly ignore anything that suggests otherwise. A good antidote is to throw rocks at your idea. Write a list of reasons why you shouldn't do it. If the idea still stands up, that's a good sign. If it crumbles, you've just avoided an expensive mistake. Overconfidence: when an easy win goes to our head Recency bias, confirmation bias and overconfidence are really two pages of the same book. An easy win (a property that rose in value, a share that took off) makes us feel skilled when the market may have done most of the work. We then repeat the approach, seek out information that supports it, and take on more risk than we should. The flip side matters too. Someone who's been burnt before can lose all confidence, and doing nothing can be just as risky as doing too much. Herd mentality and FOMO "Everyone's doing it. Everyone seems to be making money. I'd better jump in before I miss out." That's herd mentality feeding fear of missing out, and social media has turned the volume up. Afterpay and Bitcoin are good examples. Both delivered extraordinary growth for a time, and plenty of people jumped in simply because they were so popular. But the herd doesn't know your goals or your timeframe, and by the time something is everywhere in the news, the best of the growth may already be behind it. Blindly trusting what others are doing, without doing your own research, is arguably one of the riskiest things you can do. Biases aren't always the enemy One of the most useful things to understand is that these biases aren't always bad. Take someone with $80,000 sitting in the bank for a house deposit. Their loss aversion is working in their favour, because a 10% fall in a growth asset could leave them short at settlement. For money you'll need in a year or two, the bank account may be exactly the right place for it. This ties back to Week 2. The same person might hold a superannuation balance invested for growth over decades, while their house deposit sits in cash. Different timeframes call for different strategies. Which is why the most important question isn't what to invest in. It's what you're investing for. How to keep your biases in check There's no way to switch your biases off. We're all human. But you can limit the damage. Build awareness. If you don't know these biases exist, it's hard to do anything about them. Learning to recognise them is step one, ideally before you start investing. Understand the why. Knowing which bias is at play helps you pause before acting. Challenge your own idea. Write the "why shouldn't I?" list. Throw the rocks. Match the money to the goal. Be clear on your timeframe before you invest a dollar. Put some systems in place. Research, automate your investing and diversify so no single call can do too much damage. Get an independent sounding board. Someone with no emotional skin in the game will naturally play devil's advocate better than you can. The last piece of advice: get a second opinion. Even a third or a fourth. Why this matters when you're starting out When your balance is $30,000 or $40,000, a few poor decisions might not feel like a big deal. But over 30 years, the difference between a good call and a bad one is huge. One way to make it tangible: the right decisions at 30 could be the difference between flying business class and flying economy in retirement. Jargon buster Behavioural finance: the study of how psychology and emotions influence financial decisions. Bias: a mental shortcut that feels logical but can lead to poor decisions. Loss aversion: feeling losses more strongly than equivalent gains. Risk aversion: avoiding risk, even when some risk is needed to meet your goals. Recency bias: giving too much weight to recent events. Confirmation bias: seeking information that supports what you already believe. Overconfidence bias: believing your knowledge or ability is greater than it really is. Herd mentality: following the crowd rather than making an independent decision. FOMO: fear of missing out. Homework for the week Write down one or two biases you think you show. They don't have to be about money. Next week What does it actually cost to invest? Brokerage, platform administration fees, investment costs and super fees, and how to compare a platform with a broker account. ------- Mentioned in the episode is Danny Archer's previous episodes on Behavioural Finance - these can be listened to on Apple, Spotify or here on our website - they are Episodes 58 and 61 of the FS360 Podcast by M Group. This article contains general information only and does not take into account your personal objectives, financial situation or needs. Speak to a licensed financial adviser before making any investment decisions.
Financial Planner Australia Victoria Sunshine Coast
by Gavin Nash • 2 November 2026
Investing Starting From Scratch: Our Financial Planners talk about investing in an informative Podcast format. Watch on video on our website and YouTube channel.
Financial Planner Victoria Queensland Sunshine Coast
25 October 2026
Investing Starting From Scratch: Our Financial Planners talk about investing in an informative Podcast format. Watch on video on our website and YouTube channel.
2 October 2026
This seminar was held in the M Group Sunshine Coast office on October 1st 2026. We welcomed clients into the room and now here on YouTube to listen to Financial Planners Kym Vivien and Jack Toohey speak, along with Accounting Director Jodie Thompson and our special guest Jonathon Tolub from our Share Market research partner Investsense. ----------------- Trends Shaping Your Wealth + Federal Budget Key Insights. We will be joined by InvestSense, M Group’s dedicated investment research partner, who provide independent research and insights into investment markets and assist with the construction and management of client portfolios. Our seminars aim to be informative and insightful for our valued clients. You can watch the entire seminar here:
Show More