-
Statement on Banking Royal Commission
Read more: Statement on Banking Royal CommissionWe’ve all been concerned about recent news emanating from the Financial Services Royal Commission and the confidence of Australians to receive trustworthy, thoughtful and appropriate financial advice. The behaviour of many corporates and advisers has sometimes resulted in a devastating financial impact on investors. Sadly, we have witnessed several of these occurrences when assisting and representing clients who have previously been serviced by bank and institutional financial planners. Many, but not all, of the problems highlighted have stemmed from the vertical integration model that exists within the major banks and institutions. They employ the advisers who the clients deal with. They…
Topics:
-
2018 FWP Federal Budget Overview
Read more: 2018 FWP Federal Budget OverviewLast night’s federal budget stood out on a tax perspective and there were a couple of other positives to be found. Importantly, we’ve just clocked two consecutive budgets without major superannuation meddling. And the super changes we did get were positive. Pensioners The Pension Loans Scheme will be opened to all Australians over 65, including full rate pensioners and self-funded retirees, so they can boost their retirement income by up to $11,799 for a single and $17,800 for a couple without impacting on their eligibility for the pension or other benefits. Essentially a reverse mortgage, anyone over the retirement age can…
Topics:
-
2018 March Quarter Review
Read more: 2018 March Quarter ReviewEconomic Overview Global economic data remained encouraging during Q1, though after a long period of relative calm and upward movement volatility again reared its head in equity markets. While towards the end of the quarter the potential for trade wars heated up. In the US, economic data continued to be supportive. US business confidence reached a multi-decade high in March. GDP for Q4 2017 was revised upwards to show growth of 2.9%, and while industrial activity slowed – as measured by the ISM manufacturing index – it continued to indicate expansion. The US Federal Reserve raised rates by 25 basis…
Topics:
-
Franking Credit Folly
Read more: Franking Credit FollyLabor’s proposed change to franking credit refunds on dividends has provoked quite a debate in a short space of time. For a quick primer, under the imputation system, companies who pay franked dividends to shareholders can pass on a tax credit for company tax already paid. When shareholders receive the franking credits, they can be used to offset other income tax liabilities. When shareholders have low or no taxable income, such as those drawing a super pension, franking credits may be paid out as cash refunds. This doesn’t matter whether your pension income is $18,000 or $180,000. Where people stand…
Topics:
-
An Investor Who Knows Too Much?
Read more: An Investor Who Knows Too Much?Recently the New York Times profiled a man named Erik Hagerman. A former corporate executive, Mr Hagerman is an average man who lives alone in rural United States. So why was the New York Times so interested in him? Turns out he’s deliberately ignored the news since 8 November 2016 – the day Donald Trump was elected president. As you might imagine, Mr Hagerman is from the left or progressive side of politics and this is a personal response or silent protest against the election of Donald Trump. While Mr Hagerman’s story has attracted ridicule from Donald Trump supporters, it’s…
Topics:
Financial Planning, Investment & Insurance Solutions
Dedicated to helping people across Dubbo & NSW with their financial needs
