We all get bombarded with information from every source possible and frankly, it's too much. Even if you haven't already flicked it into spam you probably don't have time to read it. We call it Information Overload. So, on this page we've selected big picture news items we think are relevant and of interest to our clients.
The RBA today announced another interest rate cut to a 3 ½ year low of three percent (3%) as a buffer against weak commodities and a slowing economy. Some economists are expecting this to be the last cut in the current economic cycle.
One of the quickest ways to improve business efficiency is through utilising technology.
Buried deep in the Government's Mid-Year Budget and Fiscal Outlook papers there is an announcement that will bring a major smile to the faces of SMSF trustees. Until now, in the absence of an eligible reversionary pension beneficiary, pensions ceased on the death of the member. The subsequent sale of Fund assets to pay out the requisite lump sum benefit then occurred in the accumulation stage resulting in a net 10% capital gains tax bill based on the original purchase price of the asset. Some Funds in the past have suffered substantial tax much to the chagrin of the lump sum beneficiaries.
With the recent change to China’s leadership the following article entitled “China’s Growing Pains” gives an excellent overview to help understand what its position currently is.
Jerry Miccolis, co-author of “Asset Allocation For Dummies” and chief investment officer at the wealth advisory company Brinton Eaton in New Jersey, has shared his list of 10 mistakes investors should avoid. According to Mr Miccolis these are:
Recently a number of clients have contacted WLM in regards to a tax refund being offered by the ATO. This is a scam and the Tax Office has had a warning about this on the website for over 5 years.
Generally, infrastructure assets are natural monopolies that provide an essential service to the community. Infrastructure assets offer investors protection from the impacts of inflation because their earnings generally have some direct linkage to inflation. Over time the stable, reliable earnings of infrastructure assets are expected to lead to a combination of income and capital growth for investors.
Claim deductions on outdoor structures and save tax
The RBA announced their fifth rate cut in 12 months. A further official cash rate cut of 0.25% lowers the official rate to 3.25%p.a., the lowest in three years.
The ATO has introduced new measures on 7 August which are part of the suite of measures announced within the Stronger Super legislation.
WLM Financial Services Pty Limited
ABN 82 079 145 298 AFSL / ACL No 232512
Level 12, 84 Pitt Street, Sydney 2000 | GPO Box 5025, Sydney 2001
T 02 9221 7777 | F 02 9221 7900