Wealth Management Archives | Page 2 of 3

SMSFs gear up for advice

Advised self-managed superannuation fund (SMSF) trustees are more confident about achieving their desired retirement income than non-trustees, according to research commissioned by nabtrade and the SMSF Association. The research says about 53% of SMSF trustees are more likely to be receiving financial advice than non-trustees (about 30%). Illustrating the value of financial advice, about 72% of advised trustees are confident of being on track to achieve their desired retirement income as opposed to 66% of non-trustees. According to the Intimate with [...]

denise.henly2015-07-13T04:10:23+09:30July 13th, 2015|FinSec Post, Investment, SMSF, Superannuation|

Knowledge and Clarity: Changes to Inactive bank accounts

On 18 March 2015, the Assistant Treasurer the Hon. Josh Frydenberg announced that the Government will increase the time frame for which bank accounts and life insurance policies must be inactive before their proceeds are transferred to ASIC. The period will be increased to 7 years from the current period of 3 years, reversing the legislation of the former Government. The proposed change will take effect from 31 December 2015, and will require legislative amendments to the Banking Act 1959 and [...]

denise.henly2020-07-08T06:31:10+09:30April 13th, 2015|Market Update, Superannuation, The FinSec View|

The Conversation: Superannuation and Tax

The Abbott government’s tax discussion paper released earlier this month, has thrown open the doors to a broad ranging debate on tax reform. One of the central themes is of course superannuation, can we expect to see it’s earnings kept tax free when the budgetary pressures created by an ageing population are considered? (Spending on the age pension is due to rise from the current 2.9 per cent of GDP to 3.6 per cent or approx. 180 billion dollars in 2054-55, [...]

denise.henly2020-07-08T06:20:57+09:30April 13th, 2015|Superannuation, The FinSec View|

SPAA Changes It’s Name

It is no secret that the SMSF sector is evolving at an ever increasing pace, SMSF is now the largest super sector in terms of asset size, boast around one million trustees and the breadth of it's professional membership is growing exponentially. Today the professional body tasked with leading the SMSF sector has changed it's name from SMSF Professionals' Association of Australia Limited (SPAA), to the SMSF Association, in a move thought to better reflect the growing growing sector and vibrancy [...]

denise.henly2015-02-18T04:01:25+10:30February 11th, 2015|FinSec Post, SMSF|

Changes to Centrelink assessments mean less age pension!

Concessionally assessed, deeming provisions... unless you are a trained financial expert, determining how the changes to Centrelink assessment rules will affect your individual circumstances can be confusing. The good news is, it doesn’t have to be and there are a number of ways to minimise the impact. This particular legislation however, does come with a deadline (January 1, 2015) so it is critical that you seek advice regarding your options sooner rather than later. The changes: The rules in regards to [...]

denise.henly2014-10-13T03:25:33+10:30July 30th, 2014|Aged Care, FinSec Post, Pre-Retirement Planning, Superannuation|

Finding lost super

Have you lost $3,000? That's the average balance of a lost or ATO-held super account in Australia. If you've changed jobs, done casual or part-time work, moved house or changed your name, then you could be one of the many Australians who have some lost or ATO-held super waiting to be found. What is lost super? Your super account will generally be considered 'lost' if: No contributions or rollovers have been added to your super account in the last year and [...]

denise.henly2014-10-13T03:25:51+10:30July 24th, 2014|FinSec Post, Pre-Retirement Planning, Superannuation|

Number of SMSF members tops one million

It’s official. The numbers of SMSF members has now topped one million, according to the Australian Taxation Office’s March 2014 SMSF statistical report. The report shows the number of SMSF members at 1,006,975 – a net gain of 11,384 compared with the 31 December 2013 figure of 995,591. Over the past four years the number of members has increased 26.6% from 795,563 at 31 March 2010. Over the same three-month period to 31 March 2014, the net establishment of SMSFs was [...]

denise.henly2014-06-12T03:21:46+09:30June 5th, 2014|FinSec Post, SMSF|

The Story Part 2: Federal Budget 2014/15 – what does it mean for you?

On Wednesday we brought you 'The Story', a budget summary outlining the key proposals from Treasurer Joe Hockey’ s 2014-15 budget. Now the dust has begun to settle we bring you 'The Story Part 2' - What does it mean for you? How could the Budget proposals change the way you live, work and pay for services on a practical day-to-day level? Here’s a round-up of what the 2014-15 Federal Budget could mean for your family finances. As always, if you [...]

denise.henly2020-07-08T06:32:10+09:30May 16th, 2014|Federal Budget, Investment, Market Update, Superannuation, The FinSec View|

The Demographic Necessity of Change

It would seem our own Andrew Creaser and Joe Hockey may be preaching from the same page - that is, the demographic necessity of change to ensure a sustainable Australia. Andrew, along with many others has long questioned the quality of life Australians can expect if we don't address the fact (based on current trends), that we are facing a longevity crisis. Treasurer Joe Hockey's recent comments regarding changes that must be made to a system "designed in the 20th century, [...]

denise.henly2014-04-17T03:34:00+09:30April 17th, 2014|FinSec Post, More than just Finance, Superannuation, The FinSec View|

Super is changing – what this means for you

Superannuation is changing – so if you are contributing to your super or even have a dormant super balance, now is a great time to think about your super savings. The Government Stronger Super changes are designed to make super simpler and more transparent, and to help you maximise your retirement income. What is MySuper? Referred to as a 'default' investment option - MySuper is a simple super offering that will become your new investment option if you haven't actively chosen [...]

denise.henly2014-05-01T04:16:31+09:30December 17th, 2013|FinSec Post, Superannuation|