Author: prudentia

Working after pension age

  The Australian Government is assisting older Australians to work, if they are able and wish to do so, by allowing them to keep more of their pension when they have income from work.  

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The benefits and risks of collectable super assets

While owning collectable and personal use assets inside a SMSF may sound appealing, there’s a big catch. In the grander scheme of the $889.5 billion in assets controlled by self-managed superannuation funds (SMSFs) in Australia, $591 million is sort of a drop in the ocean. In fact, it’s less than 1% of total SMSF assets....

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ATO takes hard line on in-house asset rules

A recent announcement from the ATO on in-house asset rules has left many in the auditing sector stunned, claims a leading adviser.

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Retirement is not just about dollars

A life-cycle consultant has revealed only two in five retirees admit to being happier once they stopped working, prompting him to issue a reminder that achieving a satisfactory retirement goes well beyond how much money a person has saved in their superannuation fund.

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Most powerful countries throughout time.

Check out the most powerful countries in every century.

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How to budget using the 50/30/20 method

This is a great strategy for anyone who wants an easy and structured budgeting method.

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SMSFA says proposed super legislation will hit farmers, small businesses the most

Small business owners and farmers with land or business premises owned by their SMSF are the big losers in the draft legislation on the Better Targeted Superannuation Concession, claims the SMSFA.

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Investment and economic outlook, October 2023

The peak drag on consumption caused by European Central Bank (ECB) monetary policy will likely occur in the first two quarters of 2024, according to Vanguard research.

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Teaching children about the value of money

Transferring money to children can be one of the most valuable financial steps parents can take.  

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Unfair Terms in a Standard Form Contract

As a business owner, you probably enter into contracts every day. Contracts are crucial as they document and govern the relationship between your business and various parties. It is common to offer the parties you interact with the same or similar contracts. These are examples of a standard form contract.

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Too many businesses roll the dice on tax debt: Jordan

Profitable companies that choose to relegate their tax and super obligations will be a focus of the ATO’s crackdown on collectable debt, Commissioner says.

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High deposit rates, but the case for equities is strong

Investors can currently lock in attractive term deposit rates, however equities are still likely to outperform cash over the longer term.

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Most powerful LEADERS of All Time

Check out the most powerful LEADERS of All Time

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6 simple rules will ensure a deed can be executed in all states

There are six simple rules that will ensure a deed is executed properly in every Australian state, says a leading superannuation legal consultant.

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Revised NALE rules ‘miss chance to clarify SMSF bugbear

The ATO will need to help trustees work out when an arrangement is internal to the fund for the purposes of non-arm’s length expense rules, says the NTAA.  

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Our investment and economic outlook, September 2023

Read our region-by-region economic outlook and latest forecasts for investment returns.

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The benefits and risks of collectable super assets

While owning collectable and personal use assets inside a SMSF may sound appealing, there’s a big catch.

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ATO issues warning over prohibited SMSF loans

Loans to members continue to be the highest reported contravention of the superannuation laws by SMSFs, says the ATO. The ATO claimed that these loans comprise 16 per cent of all breaches in auditor contravention reports lodged by SMSF auditors between 2019–2022. It reminded SMSF trustees that they cannot loan money or provide other forms...

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Single-asset segregation barred

A single asset cannot be treated in a manner that allows it to support some SMSF members in accumulation phase and others with a pension account.

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Oldest Buildings in the World

Check out the oldest buildings in the history of the world.

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Intergenerational Report 2023

Australia’s future to 2063  

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Super gender divide to remain a challenge

The Federal Government has flagged it expects the gender gap in superannuation balances to persist well into the future.

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Last chance for $25,000 super deduction

For those with a super balance under $500,000, the 2024 financial year is the final year unused concessional contributions from the 2019 financial year can be applied.    

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Managing complex relationships in SMSFs comes down to well-crafted deeds

Marriage breakdowns and SMSFs are tricky and expensive, but if the fund has extended family members included it can get even trickier, says the head of a national SMSF advice company.    

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Transferring wealth to the next generation

Inheritance planning, particularly the future division of wealth and the intended treatment of assets, should be openly discussed at the family level.

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Our investment and economic outlook, August 2023

Read our latest forecasts for investment returns and our region-by-region economic outlook.

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Living comfortably in retirement just got more expensive

  The amount of superannuation needed to live comfortably has risen to a record high as the cost-of-living crisis continues to impact all Australians.  

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SMSFs will continue to grow as government eyes superannuation coffers

  Following the release of the government’s latest Intergeneration Report there is renewed confidence that more people will see SMSFs as a more attractive option as a savings vehicle for retirement.  

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Portfolio Construction & Diversification

By: Sofie Korac, Principal Adviser Prudentia Financial Planning Pty Ltd When it comes to investing, I’m sure you have heard of the saying “don’t put all your eggs in one basket!” What does this mean and how does this translate to creating a diversified portfolio? A diversified portfolio means investing into a range of different assets...

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Advice-Related Complaints Low Despite Huge Rise In General

Of the nearly 97,000 complaints lodged with AFCA in the past 12 months, less than 5% were related to investments and advice and just under 2% were about life insurance. A statement from the authority says consumers in dispute with financial firms lodged a record 96,987 complaints, an “unprecedented” rise of 34% on the previous 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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