Summary of Federal Budget 2021/2022

How will the Federal Budget affect you? During this year’s Federal Budget announcement Treasurer Josh Frydenberg stated “Australia is back!”. The Budget proposes positive changes to superannuation, an extension of the low and middle income tax offsets and a boost to aged care services. Summary We’ve summarised some of the key points from the Budget below but, remember, these are subject to the passing of legislation: • From 1 July 2022, if you’re aged 67 to 74 you will not be required to meet the work test to make non-concessional contributions and salary sacrifice contributions to super • From 1 July 2022, you can make downsizer super contributions if you’re age 60 and over (currently you need to be age 65 or over). • From 1 July 2022, if you’re a first home buyer you can release up to $50,000 (up from $30,000) from your voluntary super contributions to help you buy your first home. • The low and [...]

By |2021-05-12T12:46:51+10:00May 12th, 2021|Market News|0 Comments

Helping your Children – Financially

As a parent you probably have great expectations for your child. They will have everything you had and more! You will consider their every need and make the most of every opportunity to help them get ahead, right?  Whilst every parent wants their child to be healthy, happy and financially secure, figuring out how to get them there is another thing. Working with a financial adviser can help you understand options available to financially help your children, and teach them how to take control of their financial future once it is time for you to step out of the equation, and them to step up. Introducing these discussions as a family from early on means you can get help for your children that will serve them well into their future. Savings It’s never too early to start a good savings system. If your child gets pocket money for helping out around the family home, birthday money and other small [...]

By |2021-04-13T12:20:17+10:00April 13th, 2021|Tips and Other News|0 Comments

More than one super account?

Did you know there is over 10 (Source) million Australians with a superannuation account, approximately 36% of which hold more super accounts, which make up  $20.8billion in ‘lost super’. Is some of that yours? Find it Moved house? Changed jobs? Don’t know where your teenage self stashed your super? It’s easy to track it down. Consider Combining it Save on fees, reduce your paperwork, keep track of your hard earned money, grow your retirement fund. But seek professional financial advice first to make sure combining is beneficial for you. Ask your financial adviser Many websites offer to help find and combine your super. It is quick, easy and free. You can ask your financial adviser for help, check with your known superannuation provider or the Australian Tax Office. Grow it A professional financial adviser can help you find an appropriate superannuation fund that will grow your hard-earned income ready for your retirement – and the sooner you get on top [...]

By |2020-11-16T11:43:01+11:00November 16th, 2020|Retirement, Tips and Other News|0 Comments

Risks of moving to Cash…

The risks of moving to cash in times of crisis When it comes to investing through a crisis, are investors better off in the market or in cash? A look at 4 scenarios. As markets unravelled early 2020, there were few places for investors to hide. As the coronavirus spread at an alarming rate across the globe, equity markets sold off indiscriminately, causing many panicked investors to sell riskier assets in exchange for cash. Flight to cash Parting ways with equity investments at or near a market bottom isn’t a new trend. Many investors have approached equities with caution since the Global Financial Crisis (GFC) in 2008-09. During times of crisis, many investors who’ve worked their whole lives saving for retirement, start thinking about what happened during past recessions, such as the Global Financial Crisis (GFC). Memories of these prior events, coupled with the barrage of frightening headlines from media outlets, can make it tough to maintain a planned asset [...]

By |2020-11-04T11:34:17+11:00November 4th, 2020|Tips and Other News|0 Comments

Take Control Of Your Retirement

Are you affected by the increase in the Age Pension’s qualifying age? Take steps now to avoid getting caught short on retirement income. The minimum age to qualify for the Age Pension has started going up. For those born on or after 1 July 1952, the qualifying age increases by six months every two years until it reaches 67 in July 2023. It rises to 66 in July this year. So if you’re turning 45 this year and plan to retire when you reach 60, you will need to wait until you’re 67 before you can apply for the Age Pension. You’ll have to rely on your own savings and super in the interim, making it crucial to ensure you have enough money put away for later years. But the good news is that there’s still time to grow your retirement savings. Boost your super Contributing more to your super can be a reliable route to bolstering your retirement [...]

By |2020-09-29T13:17:03+10:00September 29th, 2020|Retirement|0 Comments

What Drives Member Outcomes

Fees and returns are important drivers of a member’s super balance. They’re also easy to measure and for members to understand. That’s why super funds have focused on delivering competitive returns and low fees for their members. But CoreData research shows that fees and returns are not important drivers of retirement outcomes. In the real world, retirement outcomes are about more than money. They’re about more than the super balance; and they’re about more than fees and returns. Please click on the link below to see the article in full https://www.newmodeladviser.com.au/2505/start-making-sense-episode-4-why-super-fund-fees-and-returns-dont-drive-member-outcomes/ CoreData is a research house. If you would like to discuss further, please contact our office. Author: Jason Andriessen

By |2020-07-01T12:40:17+10:00July 1st, 2020|Tips and Other News|0 Comments

Superannuation Reform – Downsizing

Superannuation Reform; Downsizing - What does it mean for you? Downsizer superannuation contribution has arrived from 1 July 2018 which means that if you are 65 years or older you can choose to make a downsizer contribution into your superannuation of up to $300,000 each from the proceeds of selling the primary residence (your home) without having to satisfy the work test. Your downsizer contribution is not a non-concessional contribution and will not count towards your contributions caps. The downsizer contribution can still be made even if you have a total super balance greater than $1.6 million. You can only make downsizing contributions for the sale of one home. You can't access it again for the sale of a second home. Downsizer contributions are not tax deductible This is an opportunity for clients who do not qualify for the Age Pension because it does not count towards the individual total super balance cap $1.6 million but it will still count towards the [...]

By |2019-03-12T11:25:38+11:00August 6th, 2018|Market News, Tips and Other News|0 Comments

Ethical Investments

Ethical Investments - What does it mean? Socially responsible investing (SRI), or social investment, also known as sustainable, socially conscious, "green" or ethical investing, is any investment strategy which seeks to consider both financial return and social/environmental good to bring about a positive change. The term describes an investment process that incorporates environmental and social factors when selecting investments, in addition to the objective of achieving a competitive financial return. Investing ethically means that you know what your money is doing and what it is funding. In general, socially responsible investors encourage corporate practices that promote environmental stewardship, consumer protection, human rights, and diversity. Some avoid businesses involved in alcohol, tobacco, fast food, gambling, pornography, weapons, contraception/abortifacients/abortion, fossil fuel production or the military. The easiest approach is to view Ethical Investing as a spectrum from "deep green" to "light green" products that let people invest according to their level of conviction. The deep-green end includes ethical funds that avoid sectors considered harmful — for example, tobacco, controversial weapons (landmines), pornography and companies that earn a significant amount of revenue from fossil-fuel industries. Ethical funds usually have relatively higher fees [...]

By |2019-03-12T11:25:38+11:00August 3rd, 2018|Tips and Other News|0 Comments
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