Author: prudentia

Valuations key to avoiding NALI restrictions

SMSF trustees may find properties within their fund caught under changes to non-arm’s length income rules if the property is involved in a related-party transaction and is not professionally valued, according to a leading SMSF law firm.

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SMSF advice appetite strong, says ASIC

A new ASIC report has highlighted demand for further advice on the specifics of SMSFs among the Australian population, particularly among those who have a financial planner.

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Heed restrictions on downsizer contributions

Downsizer contributions can be a valuable strategy for members who are retired or have reached their contributions caps to tip further funds into super, but advisers need to be aware of the restrictions around which property sales are eligible, according to a technical services expert.

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Access to more resources and tools than most websites.

We provide 24/7 access to all these extra tools and resources to help you build on what we offer concerning your tax and other financial affairs. *

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SMSFs attract younger members

Given that self-managed super funds (SMSFs) hold more than half of the retirement dollars in super, it is easy to assume that self-managed super is dominated by older members. Not so.

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Transfer of inactive low balance accounts to the ATO

As of this week, super funds will be contacting those customers with inactive low balance super accounts, with no insurance, a balance between $200 to $6,000 and no contributions or rollovers made for at least 16 months. 100’s of 1000’s of customers will be contacted via mail, email or SMS to let them know that...

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Why your financial planner, feels Industry Super funds are NOT her first choice!

By – Sofie Korac (Prudentia Financial Planning) The more I research and deal with Industry Super Funds the more I find them not suitable for the majority of clients. Here are my reasons: They are not transparent – it is very difficult to get a thorough understanding of their underlying investments apart from the general...

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Top 10 countries by Export levels

So far, in other articles, we have shown the 10 largest global companies in the past 22 years and the top 10 oil producing nations in the past 58 years. This month the focus is on countries based on export levels since Dec 1965. These charts are all fascinating.

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ATO releases ‘welcome guidance’ on death benefit income streams

The ATO has provided guidance on what action SMSF trustees should take where they have failed to meet the minimum pension payment requirements for a death benefit income stream.

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What falling interest rates mean for investors

The Reserve Bank of Australia's official cash rate is at a record low of 1 per cent, with further cuts predicted as the central bank strives to offset perceived economic weakness.

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Keep track of how Australia is really ticking over.

The data below covers almost every aspect of life in our great country.

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Insights from the 2019 Vanguard / Investment Trends SMSF survey

The annual Vanguard/Investment Trends SMSF Report collates responses from almost 5,000 SMSF trustees and close to 300 financial planners who advise SMSFs, providing a clear snapshot of the priorities and issues facing SMSF trustees today.

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Downsizer Super Contribution

Australians who are 65 years old or older may make a downsizer contribution into their superannuation of up to $300,000 from the proceeds of seeling their home.

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‘Retrospective’ LRBA measures tipped to cause headaches

With the government reintroducing its total super balance measure for SMSF loans, technical experts have warned that the retrospective nature of the change could pose issues for SMSF clients purchasing property this year.

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The global economy at midyear: How our views have changed

A lot has happened since Vanguard published its global economic and market outlook for 2019 at the end of last year.

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Top countries by oil production

Last month we showed an animation of the change within the 10 largest global companies in the past 22 years. This month the focus is on countries based on oil production since Dec 1965. This chart is equally fascinating.

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Super growth reducing age pension drawdown

Less than half of new retirees accessed the age pension last year and of those who did, only one-quarter drew a full pension, according to new research from annuity provider Challenger, which claims superannuation is working on a mass scale.

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Big four firm outlines new financial year checklist for SMSFs

With the new financial year starting, one of the big four accounting firms has highlighted the key areas on which SMSF professionals should focus their attention for SMSF clients.

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Interest rate for SMSF loans set to rise under safe harbour terms

Despite the recent cut to official interest rates, an update in the ATO’s superannuation rates and thresholds indicates that the minimum interest rate for SMSF loans under the safe harbour terms will increase for the 2019–20 financial year.

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Control considerations flagged with death benefit pensions for children

When starting retirement phase pension accounts, SMSF professionals and their clients should think carefully about how it might impact the amount of death benefit pension that their children will be able to receive, says a technical expert.

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Good investment habits versus damaging biases

In a low-interest, lower-return, more-volatile investment environment, investors have an even greater incentive to keep wealth-damaging behavioural traits or biases under control.

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Critical documentation steps flagged with switching SMSF loans

With an increasing number of SMSF clients looking to switch loans following the exodus of the major banks from SMSF lending, a law firm has highlighted some of the considerations and important steps with documentation in this process.

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Australia – the story goes on.

            One great source of data about Australia. Become better acquainted with the country we love. An up-to-date snapshot of Australia's vital statistics.   Please click on the following link to see all this interesting information. The areas covered are: Overview Markets GDP Labour Prices Money Trade Government Business Consumer Housing...

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Consolidate your super and save

If I offered you a year's pay for an hour or so of work, you would probably jump at the opportunity.

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Asset allocation as you age

How age changes investing preferences.

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10 top global corporations since 1997

The following video is a really great representation of how the top 10 global corporations have changed since 1998.

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What the election outcome means for you?

The federal election is done and dusted, and the Coalition Government has been given another three years in power. How will this outcome affect Australians’ finances? What will change – and what won’t – when it comes to policies affecting people’s money? Can we expect any surprises? The Coalition Government staying in power will largely...

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Your personal financial register

Have you written a personal financial register, listing your super and non-super investments, your other assets, your income and any debts?

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ATO figures show jump in starting balances for SMSFs

The ATO’s statistical overview of SMSFs for the 2016–17 financial year indicates that funds that were established that year had assets of just over $500,000 on average, a substantial increase from the previous year.

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ATO updates valuation guidelines for pension reporting

The ATO has updated its valuation guidelines in order to clarify when a reasonable estimate can be used for valuing pension assets when reporting to the ATO.

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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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