australia Archives - Jennings Financial Services

Federal Budget 2022

Federal Budget 2022 - Summary This year’s Federal Budget covers a range of measures aiming to reduce the pressure from increased costs of living and help people into homes. Note: These changes are proposals only and may or may not be made law. Summary Personal taxation – Cost of living tax offset: The Low and Middle Income Tax Offset (LMITO) will increase, providing an additional $420 to reduce tax payable for eligible taxpayers in the 2021/22 financial year. This offset is non-refundable and available to those earning up to $126,000 per annum. Further, LMITO was not extended, meaning it will not apply for the 2022/23 or later financial years. – Halving of fuel excise: For six months from 12:01am 30 March 2022, the excise on fuel and petroleum-based products will be halved. Whilst not a direct tax, the expectation is this should result in lower fuel prices during this period. Half the current excise on fuel and diesel will reduce [...]

International Markets Roundup

February 5 2020 - International Market Roundup The Nasdaq hit a record high on Tuesday and the S&P 500 posted its biggest one-day gain in about six months as fears of a heavy economic impact from the coronavirus outbreak waned after China's central bank intervened. Asia Chinese stocks ended higher on Tuesday as the central bank vowed to stabilise the market, regaining some ground from the coronavirus-led rout that erased almost $400 billion in market value from the Shanghai benchmark in the previous session. The Shanghai Composite index closed up 1.3 per cent at 2783.29 the biggest daily gain since 13 December, 2019. The blue-chip CSI300 index jumped 2.6 per cent, clocking its biggest daily gain since 1 July 2019. CSI300's sub-index for the financial sector gained 2 per cent, the consumer staples sector jumped 2.9 per cent, the real estate index were up 2.2 per cent and the healthcare sub-index climbed 3 per cent. Hong Kong stocks climbed [...]