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.
With the five per cent bonus on voluntary HECS-HELP payments over $500 to end at the end of the year, should Australians pay off their university debt?
The current HECS-HELP payment system allows students to defer their student contribution and repay it later through the taxation system. It was traditionally thought that not paying the debt off early could be a viable option over time but it may now be time to reconsider.
As the end of the year is drawing rapidly to a close it may feel like the changes to the Asset Test for the Aged Pension have just been drawn up, however, these were announced in the 2015 Federal Budget. You may be asking yourself, “what does this really mean for me – and what are my options?”
Firstly, let’s look and see who these measures apply to.
Along with the increase in small business concessions over recent years the ATO has been very active in reviewing the tax treatment of businesses that derive income from personal services as well as
professional services firms. The ATO has recently signalled its clear intention to take a more aggressive approach to professional firms which fall outside the scope of the PSI rules with its recent website updates.
Scams are all around us. In fact, they're so common that more than 105,000 scams were reported to the Australian Competition and Consumer Commission ACCC last year, resulting in losses of more than $84 million.1 And that's just the tip of the iceberg: many more scams went unreported, often because the victim was too embarrassed to tell authorities about the crime.
WLM would like to thank Dr Jerome Lander, Portfolio Manager of the Dynamic Asset Consulting (DAC) Goals Based Portfolios, who shared his thoughts on current investment markets and how to invest to achieve your goals in today's environment. There was much positive feedback from those who attended and we hope to have Jerome back at another time.
In the 1500s English houses had thatched roofs, thick straw piled high, with no wood underneath. It was the only place for animals to get warm, so all the cats and other small animals (mice, bugs) lived in the roof. When it rained it became slippery and sometimes the animals would slip and fall off the roof.
Following the release of the first tranche of draft legislation for proposed changes to superannuation, it’s time to take a look at other tax-effective structures and ask how they might stack up for investors.
Treasurer Scott Morrison may not have said outright that he was targeting SMSFs when he announced the proposed changes to super, but he may as well have. The fact is that the potential changes are set to impact SMSF trustees more significantly than the general population, and many are asking what their options to supplement superannuation savings are.
The UK took the world by surprise when its citizens voted to leave the European Union (EU). This unprecedented move has left everyone wondering what’s next (and Google searching if the sharp uptick reported by the search engine is anything to go by).