Category: Latest News

Superannuation for younger investors

The Australian superannuation industry has been in the headlines almost every day in the past few weeks, with the Federal Government predicting that as many as 1.7 million people will look to access their superannuation early as part of COVID-19 relief measures.

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AFP teams up with ATO, Treasury in COVID-19 tax fraud taskforce

The Treasury has confirmed that it will be working with the ATO and an Australian Federal Police taskforce in investigating any cases of fraud related to the government’s COVID-19 stimulus measures.

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ATO extends initial JobKeeper payment deadline

Employers looking to enrol for the first two JobKeeper fortnights have now been granted a further extension of time to enrol and pay employees.

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ATO releases JobKeeper alternative test

The alternative decline in turnover test rules for the JobKeeper payment scheme has now been registered by the ATO.

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How early super withdrawals add up

The coronavirus pandemic is having profound effects on Australian families, communities, businesses, the financial markets and the global economy.

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Government announces mandatory code for rent relief

News release 7th April 2020. Prime Minister Scott Morrison has revealed that he has reached an agreement on a mandatory code for the provision of rent relief by commercial landlords to tenants. In a press conference on Tuesday, 7 April, Mr Morrison said the mandatory code agreed to with the national cabinet will be legislated...

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COVID-19: Early Childhood Education and Care Relief Package

From Monday 6 April additional support for Early Childhood Education and Child Care Services and their families.

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ATO clarifies COVID-19 rent relief concerns

The Australian Taxation Office has responded to widespread concerns on whether SMSF landlords providing rent relief to tenants due to the financial impacts of the novel coronavirus is a contravention of the SIS Act.

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SMSFs in the ATO firing line

Is your self-managed super fund fully compliant with the regulations governing the operation of private funds?

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Avoid SISR traps in early access to super scheme

A law firm has warned trustees to consider several factors to ensure they’re complying with the Superannuation Industry (Supervision) Regulations 1994 (SISR) before deciding to access the government’s early access to super scheme.

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Data so large it’s hard to comprehend.

The following website gives the running totals for many everyday categories and the numbers are almost, if not, overwhelming when seen on a global scale.

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Ride the market to recovery

Severe market downturns feel anything but fair. In many ways the biggest risk facing investors now is the impulse to take action and to make hasty, short-term decisions based on emotional factors rather than accepting where we are today and riding things out.

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Historic $130bn wage subsidy to cover 6 million workers

Prime Minister Scott Morrison has now unveiled an extraordinary $130 billion wage subsidy which will see businesses receive $1,500 a fortnight per employee for the next six months.

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Stage 2 – Covid-19 stimulus package.

Detail on what the second stimulus package means to your hip pocket, Centrelink payments and staff retention.

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Covid-19 Update – Small Business

Small businesses will be the hardest hit by the ramifications of Covid-19.  The following is more information to help small business owners better understand some of the business support that's now available.

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PM launches $17.6 billion virus stimulus plan

The Prime Minister has announced a stimulus plan to curb the economic impact of the coronavirus and keep “Australians in jobs and businesses in business”. 

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Statistical picture of Australia – Update

The data contained on this website can help with many day to day decisions.

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A resource hub for our clients.

We provide 24/7 access to many extra tools and resources to help you build on what we offer concerning your tax and other financial affairs. *

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New laws mean 65-year-olds should hold off on large contributions

Following confirmation from the government that legislation to extend the work test exemption to age 67 will be passed by the end of the financial year, SMSF professionals should hold off on large contributions for 65-year-old clients to extend their ability to contribute to super for longer.

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Understanding the dangers with downsizing and super

There are often upsides and downsides in any piece of legislation, especially when it comes to superannuation.

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Non-concessional contributions breaches on ATO radar

Deliberate efforts to game non-concessional contributions (NCC) cap breaches to reduce tax are known to the ATO, which will consider them as tax evasion.

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Expected GDP by country 2010 to 2100

This animated chart is simply amazing but some world events could have a negative impact.  Even so, it's fascinating to see how the world might change into the future.

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Investing with small amounts

A question that comes up for many people saving for retirement is how best to invest when they only have small amounts of money available at a time.

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What 2020 holds for low cost funds

As it goes, 2020 is unlikely to bring a period of prolonged stability that investors are hoping for.

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Total return investing

It wasn't long ago that the common view was to save and invest through your working life and then retire to a portfolio that delivered at least a 5 per cent income yield every year.

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Retirement trap hurting saving Aussies

Be aware:  Australians are being warned that they will need half a million dollars to escape the “retirement trap” of a reduced pension due to assets meeting certain thresholds.

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Real Time World Population Growth – Wow!!

Watch as the world population changes every second of the day or see where everyone is.

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A challenge for China and investors

Since the news of the coronavirus broke, the human impact globally has been significant and continues to rise.

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Property deduction errors down to ‘lack of understanding’: ATO

A fundamental knowledge gap is continuing to trip property investors up, leading to simple mistakes and heaping pressure on tax agents, the ATO has revealed

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Start 2020 with a best snapshot of Australia.

It might be dry old data but it's how you're county's going and it's used to make decisions that affect you every day.  

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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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