Category: Latest News

Banks launch scam awareness campaign

The new campaign highlights the importance of customer alertness against criminal activity by scammers.

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Unintended consequences of work test changes to be rectified

New draft legislation to the work test mean impacted individuals will retain their ability to claim deductions for personal contributions post 30 June 2022, says a leading adviser.

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The importance of SMSF succession planning

Preparing for loss of capacity or death is vital for SMSF members. It's important to ensure your trust deed is watertight.

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ATO warns of rise in SMSF identity fraud and investment scams

The ATO has warned SMSF members to be aware of identity fraud and investment scams.

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Our investment and economic forecasts, April 2023

Our latest forecast changes include expectations for:

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Devil in the detail on super changes

Proposed changes to superannuation have the potential to reshape the retirement landscape. The objective of super remains the missing ingredient in the mix.  

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Weighing up cash deposits

Cash in a deposit account doesn't necessarily equate to safety. That's why many investors are shifting to fixed interest securities.

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Protect your business from cyber threats.

Computer hacking has been around for as long as there have been computers.  Once it used to be computer geeks showing the world how smart they were.  Now it's become very serious with almost any person, company or Government at risk from these criminal activities.

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Bank closures, market volatility call for perspective

Amid sudden bank closures, we explain our risk management approach and remind investors to focus on what they can control.

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Australian retirees face accelerating price pressures

Couples now need nearly $70,000 per year to achieve a comfortable retirement, while singles need around $50,000 according to an analysis from the ASFA Retirement Standard.

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More women take up SMSF as others look for advice

A new report from AUSIEX shows that in 2022, new SMSF trading accounts were relying more on advice, were increasingly female and favoured a distinct mix of asset classes, securities and sectors.

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How Long Could You Survive Drinking Only ………

Here's how long you'd live consuming only this liquid, and nothing else.

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More SMSF members accessing funds without meeting conditions: ATO

The ATO said it is seeing a rise in behaviours which indicate SMSF members may be accessing their funds before meeting the conditions of release.

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ATO warns SMSF on sole purpose test for property investment

  Property investment by an SMSF will fail the sole purpose test if it provides pre-retirement benefit to someone such as personal use of a fund asset, warned the ATO director of the SMSF Auditors Segment.  

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China’s economic rebound lowers the odds of a global recession

Why markets are optimistic

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Three simple steps for financial wellness

If money’s too tight to mention, here’s some small steps that can make a big difference in achieving your financial goals.

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No plans to extend NALI compliance relief, says ATO

The ATO says it does not intend to extend PCG 2020/5 for another year and will wait to see what changes the government legislates.

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Draft super objective to ‘protect super from interference’

Superannuation bodies have welcomed the government’s draft objective for superannuation, stating it will provide equity in the system and help protect preservation.

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Contribution caps to stay the same for 2023–24 year

Concessional and non-concessional contribution caps are set to stay at $27,500 and $110,000 following the release of the AWOTE figure.

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Why most investors want human advice

Artificial intelligence systems, and their ability to undertake often complex tasks in seconds, are increasingly gaining attention and user traction.

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Comparison: How Long It Takes To Decompose?

Check out how long everyday items take to decompose.

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Auditor flags knowledge gaps with loans and financial assistance amongst SMSFs.

  Loans to members and financial assistance continues to be the most commonly reported type of contravention based on ATO statistics.  

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An ongoing debate every employer needs to be on top of.

How to work it out: employee or contractor To check if your worker is an employee or contractor, you need to review the whole working arrangement.  Read on ....  

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ATO plans publicity campaign for final Work From Home guidance

  More demanding record-keeping requirements in the November draft have been in place since 1 January.  

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Beating back inflation, but at what cost?

Joe Davis, Vanguard’s global chief economist, gives a high-level overview of where the economy and markets are likely headed in 2023. Inflation is abating, thanks in part to central banks’ aggressive actions, but it may come at a cost, with recession likely in most developed markets. But it may not be all bad news for the financial markets.

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ATO issues fresh warning on illegal early access schemes

With illegal early access schemes on the rise, the Tax Office has issued a fact sheet warning super members about the promoters of these schemes.

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Why superannuation fund fees matter

The fees you pay on your super could have a material impact on how you retire, which is why it's important to understand how they work.

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When to be proactive about your portfolio

The mid-year point is an opportune time to take stock of your investment holdings – but reviewing your portfolio should really be an ongoing exercise.

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TBC set for double indexation from 1 July

The general transfer balance cap is set to increase to $1.9 million from 1 July based on CPI figures released today.

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SMSFs cautioned on ‘strict conditions’ with SMSF lending

Where SMSFs are planning to lend money there are some important conditions to be aware of including who the money is lent to and the reason for the loan.

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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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