Monthly Musings

In the May edition we will provide:

  • our update on the markets for May,
  • a new Episode 20 of 3 Minute Tech focussing on the very relevant “End of Financial Year Planning”, 
  • a paper in Focal Point which provides some considerations with respect to a Superannuation to-do list heading into June 30,
  • provide a short video insight into our experienced Private Wealth Adviser, Brad Gordon, and,
  • suggest an interesting book to read.

End of Financial Year (EOFY)

The End of Financial Year (EOFY) is once again fast approaching. This means it is time to dust off the superannuation to-do list ahead of the 30th of June 2022. Given the inevitable June end rush, as well as processing and cut-off times, it is prudent to review actions in advance of deadlines. The following outlines some of the areas that may be applicable for consideration and review.

Superannuation Guarantee

Super Guarantee (SG) is a legislated obligation for employers to provide superannuation support to Australian workers. The required minimum super contribution is set by the Government and presently sits at 10% of ordinary times earnings. SG contributions are classified as employer contributions, and these amounts count towards the employee’s concessional contribution cap (i.e. $27,500 for the 2021/22 financial year – but this cap may be higher if eligible for catch-up contributions). We detail some important and upcoming changes to the SG rules.

Monthly Musings

Welcome to the March edition of our Monthly Musings.
 
In this latest update we will

  • provide our market update for March,
  • provide a brand new episode of popular 3 Minute Tech titled “Super’s Minimum Pension Requirements”
  • deliver a paper in “Focal Point” on the Federal Budget 2022-2023,
  • provide a short video insight into our experienced Private Wealth Adviser, Andrew Fry, and
  • suggest an interesting book to read.

As always, we hope you enjoy.

Federal Budget 2022-2023

With a Federal Election looming, the Government has unveiled a budget to assist millions of Australians facing rising cost of living pressures. The measures announced include a cut to fuel excise, cash payments for pensioners and more generous tax concessions for low-and middle-income earners. Tied in with these temporary measures, the Government is also expecting to see a moderation in inflation as international factors and supply chains evolve.

Minimum Pension Payments

As part of the government’s response to COVID-19, legislation was passed to allow a 50% temporary reduction to the minimum pension drawdown requirements. This was designed to assist retirees navigating volatile markets who do not wish to sell their investment assets while the value of those assets is reduced. As we move closer to the end of the 2021/22 financial year, superannuation pension members have the opportunity to assess whether it is appropriate to make use of the relief. We explore some of the considerations below.

Monthly Musings

Welcome to the February edition of our Monthly Musings.
 
In this latest update we will

  • provide our market update for February,
  • provide a flashback of popular Episode 1 of 3 Minute Tech “Who gets my Super when I die?”,
  • deliver a paper in “Focal Point” on Minimum Pension Payments, 
  • provide a short video insight into our great Head of Adviser Support, Karen Kernaghan, and
  • suggest an interesting book to read.

As always, we hope you enjoy.

Monthly Musings

Good morning!
 
Welcome to the January edition of our Monthly Musings.
 
In this latest update we will:

  • provide our market update for January,
  • release the next episode of 3 Minute Tech “Investing for Children – Part B”,
  • deliver a paper in “Focal Point” where we highlight how individuals can boost their superannuation balance with the use of non-concessional contributions, 
  • provide a short video insight into one of our fantastic Associate Advisers, Katrina Ryan, and
  • suggest a good podcast to listen to and an interesting book to read.

As always, we hope you enjoy.

Monthly Musings

Good afternoon!
 
Welcome to the December edition of our Monthly Musings.
 
In this latest update we will:

  • provide our market update for December,
  • release the latest episode of 3 Minute Tech on “Investing for Children”,
  • deliver a paper on Estate Planning in Focal Point. With Australians set to pass on record amounts of wealth over the coming decades, we highlight what is typically involved in conducting an estate planning process,
  • provide a short video insight into one of our experienced Private Wealth Advisers, Phil George, and,
  • suggest a good podcast to listen to and an interesting book to read.

As always, we hope you enjoy.

Non-concessional Contributions

As we move through the second half of the financial year, attention often turns to reviewing the merits of additional contributions into superannuation. When it comes to building a superannuation fund, most people acknowledge that their regular employer contributions do a large portion of the work. Non-concessional contributions can also provide significant opportunities. The important rules associated with these types of contributions are highlighted below.