Category: Latest News

Planning your financial legacy

Beyond accumulating wealth over time, planning your financial legacy is one of the most important aspects of estate planning. With the greatest family wealth transfer set to occur in the next 20 to 30 years, here are a few things investors should consider when planning.

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Three behavioural factors that can affect retirement spending

Retirees work hard to build up their nest egg but many are hesitant to spend it when the time comes. Here are three behavioural factors that affect retirement spending and how you can overcome them to ensure you make the most of your later years.

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New FAR regime and CSLR changes before Parliament

The Morrison government has introduced legislation into Parliament to establish the Financial Accountability Regime (FAR) and the Compensation Scheme of Last Resort (CSLR). 

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World’s most productive countries

The following animated chart covers the period from 1950 to 2017.  It is fascinating to see how the world changes over time.

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World vaccination rates – updated 4-10-21

With all the news and focus now on getting to high vaccination rates before Australia can re-start its economy, how are other countries doing? Vaccinations by Country A PDF covering all countries and the differences are marked. Click here to download PDF Vaccination rates by country income level Share of total population receiving at least...

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Working from home safety and wellbeing checklist

You and your business can still be held responsible for injuries that happen in the home while carrying out work-related duties. So, just as you audit your workplace for OHS issues, you must audit any home workspace used by you or your employees. In most instances employees can do their own home OHS checks to...

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SMSFs, employee share schemes & NALI

Acquiring shares under an employee share scheme (ESS) via your self managed superannuation fund (SMSF) may appear attractive but greater uncertainty has arisen following the ATO’s recent ruling, LCR 2021/2, on the application of the non-arm’s length income (NALI) rules to such a transaction.

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How do you quantify the value of advice?

A question a lot of clients ask themselves – is the cost worth it? I have been working in the financial planning industry for the past 16 years and 10 of those years running a boutique financial advice firm and working with clients from different walks of life. I know the value I add to...

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ATO extends COVID-19 relief for SMSFs

The ATO has made an extension to several COVID-19 compliance relief for SMSFs to cover the 2021-22 financial year.

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The right way to rebalance your investment portfolio

Vanguard research has found that for portfolios supporting long term goals, the exact time and threshold limits you decide upon are less important than the discipline of adhering to a consistent approach.

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Three ways to keep market uncertainty in perspective

No one can say for certain what the markets will do. What we do know however is that investors fare best when they focus on the factors they can control.

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SMSFs can face situational traps affecting related-party transactions with former spouse

SMSFs will need to take a more cautious approach when managing related-party transactions especially around a former spouse, as several traps may arise due to situational changes when considering the application of super laws, according to a law firm.

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Low interest rates require a strategic rethink

In an era of lower-for-longer interest rates and investment returns, retirees in particular should be thinking beyond just income generation to fund their lifestyle spending.

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SMSFs, employee share schemes & NALI

Acquiring shares under an employee share scheme (ESS) via your self managed superannuation fund (SMSF) may appear attractive but greater uncertainty has arisen following the ATO’s recent ruling, LCR 2021/2, on the application of the non-arm’s length income (NALI) rules to such a transaction.

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Things look positive, but the biggest risk is complacency

Markets have continued to be buoyed by strong performance and despite continuing concerns regarding inflation, the markets had some relief as bond yields pulled back over the quarter. Key Central banks have taken the view that much of the rise in CPIs is attributed to supply/demand imbalances caused by Covid, these imbalances will diminish and...

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State and Federal COVID-19 support

  The following links are to the latest state and federal government plans, schemes, programs, and initiatives to help businesses and individuals manage the impact of yet more COVID-19 restrictions.  

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The rise of the female investor

  While society continues to grapple with the factors driving gender and pay inequity, women are proactively turning to investing more than ever before. And in doing so, they are demonstrating a very competent and sensible approach to building up their wealth outside of superannuation.  

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A proven way to build wealth

  Reinvesting income distributions and having the discipline to contribute regularly is a powerful way to build wealth, as evidenced in Vanguard's 2021 Index Chart.  

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Two AAT decisions on what constitutes business real property

  Two recent AAT decisions shed important light on what constitutes business real property: Allzams Trust and Commissioner of Taxation [2021] AATA 2767 and Allen and Commissioner of Taxation [2021] AATA 2768.  

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Retirement can be risky business

  Retirees face a variety of risks in retirement including market risk, inflation risk and longevity risk. Here are some strategies to help mitigate them so you can achieve financial peace of mind.  

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ATO flags availability of COVID-19 early release super recontribution

  Individuals can now recontribute amounts they withdrew under the COVID-19 early release of super program.  

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Greenhouse gas emission by country since 1880

The total sum of CO2 emissions since 1880 (in tons).  Food for thought, that’s for sure.

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6-member SMSF registration availability to begin mid-August

  SMSFs will be able to add a fifth or sixth member to the fund using the Australian Business Registry from mid-August.  

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ATO zeroes in on SMSF lifestyle assets

  The ATO will now have information on an individual’s new $65,000 car or their $100,000 boat as it looks to flush out tax dodgers who aren’t being completely honest about their financial affairs.  

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SMSFs go for growth

  SMSFs are looking to invest more in equities and less in cash in this low-yield environment, according to the Vanguard/Investment Trends 2021 SMSF Investor report released last week.  

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SMSF scams are on the rise: Here’s how to fight back

  The growing prominence of SMSFs has made them a ripe target for scammers.  

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SMSF members highly satisfied with funds

  SMSF members are highly satisfied with their choice of superannuation fund and the sector has topped satisfaction ratings across all types of funds.  

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Four steps to plan for a better retirement

  Here is a practical approach to creating a retirement plan that will help enable financial peace of mind.  

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Tax time: calculating investment income and deductions

  Here's a check list of what you will need to include in your 2020-21 income tax return.  

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Downsizer and bring forward combination creates new opportunities for super strategy

  With the recent bring-forward measures passed along with further extension proposed in the federal budget, its combination with potential downsizer rule changes creates a different perspective for the SMSF strategy when it comes to implementation.  

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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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