Author: prudentia

Statistics for all Australians

                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 Taxes Climate   Access all this data here.   tradingeconomics.com

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Super savings gap for women stuck at 30%

While the gender gap in superannuation is improving, an economic index indicates women are still retiring with superannuation balances 30 per cent lower than men.

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ASIC issues alert over big gaps in SMSF trustee knowledge

          ASIC's latest research concludes many SMSF trustees lack a basic understanding of their legal obligations and often fall prey to property spruikers, but the profession is already finding holes in the corporate regulator's surveying.   ASIC released two reports this week following a major review it conducted into the experiences...

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SMSFs: Our 'hardest' jobs

What are the hardest aspects of running your self-managed super fund (SMSF)?

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Survey reveals strong opposition to retirement system changes

The majority of Australians are opposed to further changes to the retirement system, despite the rising costs with supporting an ageing population a recent survey has shown.

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Australia by numbers – Update

Armed with this information you'll be a conversation magnet at any party.

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Check trust deed to protect super in estate planning

For many people, their superannuation is their biggest asset when they retire – and often when they die as well.

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Some general interest stats on SMSFs

Mixed phase SMSFs holding greatest assets

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Time to check your risk exposure?

For equity investors, 2017 was an epic year. And it came on the heels of an historic bull market in global stocks stretching back to the spring of 2009.

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Cryptocurrency audits tipped to increase this EOFY

Audit activities around cryptocurrency are set to spike this tax time as part of the ATO’s broader risk analysis in its black economy crackdown, says one mid-tier.

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Assess your retirement financial resources

#4 in a series of informative blogs on this topic, links to three others are below. Assessing financial resources is surely at the top or near the top of most investors' lists of what really matters for their retirement planning. Have you given this issue enough attention?

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2018 Federal Budget – What it means for you

Superannuation Superannuation work test exemption for retirees Effective 1 July 2019 The Government intends to amend the superannuation contribution rules to allow people aged 65 to 74 that have a total superannuation balance of under $300,000 to make voluntary contributions for 12 months from the end of the financial year they last satisfied the work...

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4 components of our 2018 Federal Budget

            Click on the following links for more detail on the main components of the 2018 Federal budget. Stronger growth to create more jobs Guaranteeing the essential services Australians rely on Ensuring the Government lives within its means Budget documents     Australian Federal Government

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Your Budget

          How the 2018 budget applies to you can be found via the following links.   Individuals Families Business   Australian Federal Government

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Federal Budget 2018 – Overview

          The Australian economy in its 27th year of consecutive growth. Business conditions are at the highest level since the global financial crisis. 1,000 jobs a day on average over the past year. Global growth at fastest pace in six years. The budget focuses on 5 main areas: Tax relief to...

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Determine your retirement goals

Determining retirement goals is undoubtedly at the core of most personal financial plans.

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How to plan for a better retirement

Many investors concentrate on accumulating wealth during their working lives to pay or help pay for their retirement, yet don't give enough attention to planning for a retirement that may last 25 years or longer.

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Australia by numbers – Update

Armed with this information you'll be a conversation magnet at any party.

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99 pct of SMSFs missing global opportunities

On most days there are more dollars traded in Apple stock in the United States than on the entire Australian stock market. 

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Common EOFY slip-ups flagged for SMSFs

In a bid to avoid common basic errors in the lead up to June 30, BDO has released a checklist for SMSF professionals to be wary of.

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Beware residency rules if moving overseas

SMSF trustees are often unaware that if they move overseas for an extended period of time, their SMSF may fall foul of the ATO’s residency rules and they may face a heavy tax bill.

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New rules capture SMSFs trading big with cryptocurrency

Sizeable cryptocurrency transactions will “come to the attention of the ATO” under new rules that came into effect this week, so a mid-tier firm has put together a checklist of key considerations to keep SMSF investors compliant.

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Millions of multiple super accounts erode savings

One of the simplest ways to make your retirement savings more efficient and less costly is to get rid of needless multiple super accounts.

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Downsizing requires holistic tax planning

For many it's more than just issues to do with Superannuation.

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What your age should say about your super

Significant birthdays are either met with a high level of excitement...or dread.

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Gig economy spike prompts calls for super policy changes

The federal government is again being lobbied to extend the superannuation guarantee to include the self employed, as the gig economy becomes a staple of the Australian workforce.

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How likely is a global trade war?

US President Donald Trump's recent announcements of tariffs on imports of steel and aluminium as well as on an array of consumer goods from China have sparked a frenzy of concern over the risk of a global trade war.

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ATO issues update on cryptocurrency compliance traps

The ATO has provided further details on some of the regulatory considerations with cryptocurrency for SMSFs, including valuations, in specie contributions and ownership of assets.

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General advice "misleading": Productivity Commission

Important note: General advice does not offer the same consumer protection and should not be confused with “personal” advice according to the Productivity Commission who is calling for the term “general advice” to be scrapped. Fund managers, online direct insurance and industry super funds hide behind the “general advice” disclaimer whereas consumers don’t distinguish the difference...

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Non-lodgement numbers slashed, 30,000 funds still in ATO’s sights

There’s been a 38 per cent reduction in non-lodgers for SMSFs, but about 30,000 funds remain on the compliance agenda for the next financial year. 

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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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