Author: prudentia

20 poorest countries – 1960’s to now.

  Like all the animated charts added over the past two years, this information gives perspective and grounding for a better understanding of how the world changes. Australia's per capita income in 2018 was US$50,500.   Double click on the image to make it bigger.    

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How SMSF trustees navigated COVID-19 volatility

  Last week, Vanguard and Investment Trends launched the 2020 SMSF Investor Report. This year's report surveyed over 3000 SMSF trustees on their investment priorities and industry outlook, providing an insight into how trustees navigated through COVID-19 volatility.

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ATO confirms important issue on pension payments

  The ATO has confirmed only payments made to a member after 24 March in excess of the reduced minimum pension can be treated as a lump sum, even where a valid election was previously in place, says the SMSF Association.  

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A beginner’s investment guide to long-term wealth

  It's often said that starting out early on one's investing journey will deliver good long-term results.  

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SMSFs urged to act on compliance issues ahead of tougher penalties

  SMSFs with outstanding compliance issues should consider making a voluntary disclosure while the ATO still has a more flexible approach in place and before they implement tougher admin penalties, says a law firm.

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More than $31bn paid under early super release

  The government’s early super release scheme shows no signs of slowing down, with almost 90,000 release applications received by super funds in the first week of August and more than $700 million in payments made.  

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Your super fund, your choice

  Choice is inherently regarded as a good thing, particularly in these COVID-affected times when some of our basic choices have had to be suspended for the greater community good.  

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Update of Superannuation contribution rules from July 1, 2020.

  The rules around Superannuation contribution change almost every year, so it is important that taxpayers know what these changes mean to them.  

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September update of latest COVID-19 initiatives.

  With the ending of a number of the original COVID-19 relief and stimulus initiatives, August and the beginning of September has seen the release of new plans to move into the post-September period. Links to these updates and changes are listed below.  

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Shares vs property

There’s no quick answer to the question of where to invest your hard-earned money. However, there are some basic facts and rules that can help guide your decision. Is property best? We all love property. We all want to buy property. Whether we can afford to buy it is another question, but we all talk...

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COVID-19 resources – Jobkeeper, Victoria Stage 4 Update

Several new links have been added to the many already in this article, links that date back to the beginning of the COVID-19 pandemic.  If you have any questions, or require further assistance, please send us an email or phone. Please click on the following links to access a wide range of Covid-19 related guidelines...

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Pandemic spurs a rise in investment scams

In the current low interest rate environment, an investment product offering low-risk, high returns may sound very tempting.  

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Estate planning and investments

  It's a question most of us ask eventually: what happens to our investments when we die?  

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Early release of Super extended to Dec 31

  Superannuation fund members facing financial hardship have been given an extended window to access retirement savings under the early release scheme.  

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Excess TBC issues surfacing with reduced pension account values

The ATO has expressed concern that some trustees with diminished pension account values may be putting themselves at risk of exceeding their transfer balance cap by commuting their pension and then topping it back up.  

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The Bond Market.

  2020, a year that will be marked in history by a pandemic that had devastating effects on global health and economic activity to individuals and nations across the world.  

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Treasury underestimates early super by $15bn

  The government now expects around $42 billion to be removed from the super system as a result of the early release scheme, having revised up its initial estimates of $27 billion at the start of the scheme.  

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JobKeeper – Latest Update

  The Government has decided to extend a lower JobKeeper for a further six months (13 fortnights) from 28 September this year, with eligibility based on actual rather than projected turnover declines.  

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Updates to Prudentia Financial Planning: July 2020

New Business Process I have had to revisit my business processes due to the significant increase in my workload due to the COVID induced market volatility, increased client enquiries and increased compliance requirements in running an Australian Financial Services License (AFSL). This is in addition to my usual responsibilities including portfolio management and annual reviews...

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SMSF sector grows, new fund numbers drop

  Overall growth of SMSF sector has continued despite a drop in the number of new funds in the December quarter 2019, the latest ATO statistical report shows.  

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COVID-19 cuts risk pension pain

  The Federal Government recently announced the mandatory minimum drawdown rates for retirees with account-based pensions would be temporarily halved in both the 2019-20 and 2020-21 financial years.  

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Ways to outsmart your cognitive biases

  As markets continue to be wax and wane due to ongoing coronavirus fears and subdued employment and economic recovery numbers, it seems timely to remind ourselves of the types of behavioural and emotional biases that could lead to potentially risky investment behaviour, and how you can avoid them.  

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New laws prompt review of SMSF estate plans

  In light of recent laws passed this month, many clients will need to review their estate planning to ensure their will adequately explains how superannuation and insurance payments should be dealt with.  

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Extra Tools & Resources for our clients.

  Over time we have supplied our clients with a growing collection of tools and resources to help in areas such as COVID-19 relief updates, articles on tax changes and updates, articles to help understand economic changes, calculators for all financial needs, and videos to help you and your family learn more about financial matters.  We hope you enjoy these 'extras' and if you have any question then simply ask. *  

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New financial year to bring new rules for super

  As the 2019–20 financial year draws to a close, a technical expert has highlighted some of the new rules commencing for super funds for the 2020–21 financial year.  

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‘But how will we pay for this?’

  It's a natural question about global policymakers' multitrillion-dollar efforts to prop up economies and markets against the monumental threat of the COVID-19 pandemic. And the question has understandably taken a back seat to confronting immediate health and welfare challenges.  

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SMSFs urged to review leases before granting rent relief

  SMSF clients planning to provide rent reductions to tenants should review the lease agreement to ensure the provision of rent relief won’t result in a breach of the lease, says an industry lawyer.  

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COVID-19 resources -Update July 2020

  Several new links have been added to the many already in this article, links that date back to the beginning of the COVID-19 pandemic.  If you have any questions, or require further assistance, please send us an email or phone.  

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‘HomeBuilder’ grants now available.

A 16-year study by Vanguard Investments that found a financial adviser effectively adds around 3% to the value of a client’s portfolio over time.  This is on top of normal investment returns.  

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Covid-19 resources

A 16-year study by Vanguard Investments that found a financial adviser effectively adds around 3% to the value of a client’s portfolio over time.  This is on top of normal investment returns.  

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Heathmont Financial Services Pty Ltd (ABN 68 106 250 104) trading as Heathmont Financial Services is a Corporate Authorised Representative (No. 262098) of Knox Wealth Management Pty Ltd (ABN 74 630 256 227), Australian Financial Services Licence Number (AFSL) 513763.

Julian McGoldrick is an Authorised Representative (No. 262098) of Knox Wealth Management Pty Ltd AFSL 513763.

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