Monthly Musing

Here is our “Monthly Musings” for the month of March. In this edition we will observe the market movements for the month, showcase a brand new episode of our short video series “3 Minute Tech” where we discuss “Personal Insurances”, present an update in our Focal Point section surrounding the important superannuation “Minimum Pension Payments”, and provide a great video insight into the Entrust Wealth Management Team.

As always, we hope you enjoy.

Minimum Pension Payments

As part of the government’s response to the financial impacts of COVID-19, a temporary reduction to the minimum pension drawdown requirements were implemented. During the previous four financial years, minimum drawdown rates were halved. This is the first financial year since 2018/19 that minimum pension payments return to their normal calculations.

Contribution Caps

Outside of relying on investment returns, the best way to ensure that your retirement assets grow over time is through superannuation contributions. There are two main types of contributions – concessional and non-concessional. Following the release of Average Weekly Ordinary Time Earnings (AWOTE) data, the required increase has occurred such that the contribution caps will be lifted from 1 July 2024.

Concessional Contributions

As we move closer to the end of the financial year, attention often turns towards personal tax planning. This is where the use of concessional contributions and even carry forward concessional contributions can be particularly useful. With income tax cuts beginning 1 July 2024 on the horizon, the flexibility afforded with the current rules are discussed within the below.

Monthly Musings

Here is our “Monthly Musings” for the month of February. In this edition we will:

• observe the market movements for the month,
• showcase a brand new episode of our short video series “3 Minute Tech” where we discuss the “Division 293 Tax“,
• present an update in our Focal Point section surrounding the important superannuation “Contribution Caps“, and
• provide a great insight into our Private Wealth Adviser, Phil George.

Gifting

A query that surfaces occasionally comes to gifting money to adult children. It is common for people to be aware that there are certain rules surrounding gifting, but it is important to note that the limits don’t necessarily apply to all situations.

Monthly Musings

Here is our “Monthly Musings” for the month of January. In this edition we will:

• observe the market movements for the month,
• showcase a brand new episode of our short video series “3 Minute Tech” where we discuss the “Stage 3 Tax Cuts“,
• with “Stage 3 Tax Cuts” in mind present an overview in our Focal Point section surrounding “Concessional Contributions“, and
• provide a great insight into our Private Wealth Adviser, Matthew Reece.

Monthly Musings

Here is our “Monthly Musings” for the month of December. In this edition we will:

• observe the market movements for the month,
• showcase two brand new episodes of our short video series “3 Minute Tech” where we discuss the important topics of “What is the Age Pension?” and “Aged Care”,
• present an overview in our Focal Point section surrounding “Gifting“, 
• provide a great insight into our experienced Private Wealth Adviser, Brad Gordon, and,
• introduce our brand new offices on Level 37 in the iconic QV1 building.

Non-Concessional Contributions

When it comes to building up assets within superannuation, most people acknowledge that their regular employer contributions do a large portion of the work. Separate to this, non-concessional contributions can also provide significant opportunities. The important rules associated with making non-concessional contributions are highlighted below.

Monthly Musings

Your Entrust Wealth Management “Monthly Musings” for the month of October has arrived. In this edition we will:

• observe the market movements for the month,
• explore a fresh instalment of our short video series 3 Minute Tech where we delve into the topic of “Small Business Capital Gains Tax Concessions.”
• feature a paper in Focal Point that looks at Non-Concessional Contributions, and how this can provide significant opportunities for superannuation.
• provide a great insight into our Private Wealth Adviser, Duncan MacKintosh, and
• suggest another book that might be worth a read.