Happy New Financial Year! Read on to download our handy income tax return checklist and review tax changes for 18.19.
On Tuesday 8 May 2018, the Treasurer, Scott Morrison, released the Government’s 2018-19 Federal Budget. The Budget is designed to create short sharp election headlines.
This year’s Budget has an emphasis on retirement planning and contains several important considerations which may affect both retirees and pre-retirees, explored further below.
It’s important to note that at this point in time, these proposed measures are not yet law and may be subject to change.
We have reviewed a lot of money personality research and when it all boils down to it this is a good, succinct (but maybe an oversimplification) summary of 4 money personalities:
- Dreamers, and
Wait for it - let me explain even though one of these categories maybe resonating with you...
Over the years the government has been transferring retirement responsibility from them to you.
Where previously the Age Pension and perhaps a Defined Pension were the key financial issues, more and more retirees are now in charge of managing substantial capital and investments, and now will have to be ahead of all the new rules such as caps and balances. Penalties can be severe and costly for errors, particularly with SMSFs.
It is no secret that our Managing Director and Principal Financial Adviser has dedicated herself to and made a huge impact on her profession. This year in particular we wish to congratulate Michelle on:-
- Being awarded the Independent Financial Adviser (IFA) Goals-Based Adviser of the Year 2017
- Being named among the Financial Standard Power 50 - The 50 most influential advisers in Australia.
Last night the Federal Government handed down the 2017-18 Federal Budget.
This year’s budget was not expected to be one of great change for most investors and clients (thankfully as we are still dealing with the superannuation changes from the last budget that will be implemented in July 2017) and lived up to these expectations in most areas.
We have reviewed the Budget and prepared a summary of the key measures to be considered.
As we approach the end of 2016 we would like to comment on the state of the markets. A few weeks after the US Presidential Election, and having time to reflect on Donald Trump’s seemingly ‘improbable’ victory, love him or hate him, it is effectively middle America’s retribution against the political establishment.
Salary packaging, $5,000 cap on meals entertainment, including venue hire, from next FBT year 1/4/2016. Above this amount become reportable on your group certificate.
Reduction in asset threshold for Centrelink Age Pension - however if you lose the pension as a result you'll receive instead the Commonwealth Seniors Health Care Card, commencement date 1/1/2017.
We are thrilled to have been featured in The Age - Money Section, where our long standing client Jon talks about what prompted him to seek advice, why it has been valuable to his family, and what is important to him about the relationship he has with his adviser:-
The team at Unified Financial Services would like to congratulate Michelle Tate-Lovery and Lisa Haley who have been appointed a place in the register of Australia’s Most Trusted Adviser Network.
Michelle and Lisa have passed a stringent set of tests and benchmarking to emerge as the top 4% of advisers in the country.
Recently, we had the opportunity to attend a Chief Economists Forum with 5 high calibre economists providing their market outlook for 2014.
The concerns for 2013 were:
- U.S. to double dip
- China was to have a hard landing
- Europe was to fall apart
None of which happened. Instead there was strong global share market growth.
Focusing on getting better is easier to do if your finances are being taken care of.
Anyone who has gone through a traumatic life event, faced with a cancer diagnosis, loss of mobility or ongoing intrusive medical treatment can attest to this.
We have dedicated this blog update to share a real life client story, highlighting the true impact of having the right type of cover in place.