Author: prudentia

Made in Albania? How globalisation is creating challenges for Chinese policymakers

Is cheap manufacturing starting to move away from China?

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Australia's vital statistics

A truly fascinating set of numbers about our great country.  Almost 150 different items covered. 

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Our Advent calendar for 2017

On behalf of all our staff we wish our clients a Merry Christmas, happy New Year and a great holiday period.

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What the gig economy may mean for your super

Keith Richards of The Rolling Stones probably wouldn't define the gig economy as a market where buyers and sellers of services and goods are matched or organised through online platforms. This is a definition that the Association of Superannuation Funds of Australia (ASFA) uses in a discussion paper released late last month.

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US Fed policy: Normalisation begins

Commentary by Vanguard Global Chief Economist Joe Davis. Figures cited are in Australian dollars, at September 2017 exchange rates.

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Raft of superannuation measures enter Parliament

The government has introduced a number of bills into Parliament relating to contributions including the removal of an employer loophole with salary sacrifice arrangements.

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Big concessions looking likely for transfer balance limit: ATO

The ATO has given a strong indication that there will be concessions made in relation to events-based reporting for those SMSFs with balances significantly lower than $1.6 million, after a period of industry consultation "blew out" the ATO's expectations.

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Self-employed? Don't miss out on super

There are plenty of benefits from being self-employed including having a typically high degree of independence.

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Paperwork bungles lead to $38k in payments

An example of the need to keep good records for everything you do.

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Calls to Review ASIC's Definition of Lapse Insurance

Industry stakeholders are seeking clarity from ASIC over the criteria it is using to determine the incidence of life insurance policy lapses.

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Resources on our site to help you, your family and your friends.

Your Financial Planner supplies you with more tools and resources than most others and at no extra cost.  Use them to improve your planning for the future.

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A real-world benchmark for SMSF performance

Loneliness may well be the bane of the long-distance runner's lot, but isolation can be a major challenge for SMSF trustees to manage too.

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ATO to release further guidance on reserves

The ATO is set to release further guidance outlining the circumstances in which it is appropriate for an SMSF to establish and maintain a reserve.

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The great Australian (retiree) dream

The very high level of debt-free home ownership among current Australian retirees helps counterbalance their low average super savings, undoubtedly contributing to any sense of financial security.

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ATO granted super enforcement powers

The government has announced a number of reforms designed to give the ATO more powers to oversee and enforce superannuation guarantee payments.

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Are young investors wasting their youth?

It was George Bernard Shaw who coined the phrase 'youth is wasted on the young'. In Australia today, it seems the young may be wasting their investing youth.

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Government introduces first home scheme laws

Legislation for the government’s First Home Super Saver Scheme (FHSSS), as well as its proposed new superannuation rules for retirees downsizing their homes, have been introduced to parliament.

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Australian Dietary Guidelines and healthy eating chart (PDF)

The Australian Dietary Guidelines give advice on eating for health and wellbeing. They’re called dietary guidelines because it’s your usual diet that influences your health. Based on the latest scientific evidence, they describe the best approach to eating for a long and healthy life.

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Australia's leading causes of death – ABS

Not the sort of topic one might normally come across but keeping an eye on the 'big' picture is always good for keeping things in perspective.  Census data from 2006, 2010 and 2015.

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Lack of literacy promotes unrealistic goals

A large proportion of Australians have unrealistic retirement goals. Australians’ lack of financial literacy is contributing to unrealistic expectations about their retirement, with more than half of consumers saying they want to travel regularly in their retirement despite the fact 63 per cent say they do not have a financial plan to guide their savings....

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Our 'hardest' SMSF tasks

What are the hardest aspects of running your self-managed super fund (SMSF)? There are certainly more and more tasks and professional help my be needed to manage them properly.

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Young investors: Time is on your side

Today's young investors weren't alive when The Rolling Stones, among others, released versions of Time is on my side yet the song's title just about sums up their lengthy investment horizon.

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Is your SMSF retirement-ready?

A landmark stage in the life of a self-managed super fund is when at least one of its members moves from the accumulation phase to retirement phase. (NB:  A financial planner can help with this question if you're not sure)

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Investors acting their age

Young investors can fall into the trap of being too conservative for their own good, forfeiting compounding long-term returns from growth assets.

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ATO locks in details, addresses panic on real-time reporting

The tax office has addressed several points of confusion with the new events-based reporting regime, locked in key deadlines, and outlined what will be included in a new position paper set to be released shortly for the SMSF community. 

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Items that heat up your depreciation deductions

With the winter season upon us, a number of property investors may be thinking of doing nothing more than curling up under a rug in front of a wood fire with a good cup of coffee.

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‘Tens of thousands’ of SMSFs at risk with ECPI

The Actuaries Institute has addressed the ATO with significant concerns about a recent interpretation related to exempt current pension income (ECPI), fearing many SMSFs will make incorrect claims as a result.

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Government to shut down salary sacrifice loophole

The government has announced it will remove a loophole from legislation that allows unscrupulous employers to use their employee’s salary sacrifice contributions to pay their Superannuation Guarantee obligations

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Technical expert flags estate planning strategies for 2017-18

With the $1.6 million transfer balance cap now in place, technical experts have identified some of the considerations that will need to be made in relation to death benefits and reversionary pensions.

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Key Economic Indicators, 2017

This month's focus is on Australia's Labour Force and Demography.

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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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