Category: Investment

The difference between joint tenants and tenants in common

Posted on by in Asset Protection, Estate Planning, Investment, Legal, Risk Minimisation
Consider this not uncommon scenario… You own property with another person and you are in the process of making a Will. Of course, you want your interest in the property to go to your intended beneficiaries. Your solicitor asks you if you own the property as “joint tenants” or as “tenants...

Investment decision-making: avoid shortcuts

Posted on by in Investment, Retirement, Risk Minimisation, Superannuation, Tax planning, Wealth Creation
How do you go about choosing a restaurant, a new car or, or even a dishwasher? Chances are you begin by looking online at consumer ratings and asking friends for their opinions. Understandably, we look for shortcuts when making decisions and a common shortcut is to assume that past performance...

The power of financial role models

Posted on by in Business, General, Investment, Risk Minimisation, Wealth Creation
Role models are important in many stages of life. Be it school years, on the sporting field or in your career, having a positive role model, someone to compare yourself to and measure your progress against, can be a powerful and positive influence. But what about your financial position? Do...

Granny flat rights

Posted on by in Asset Protection, Estate Planning, General, Investment, Legal, Retirement, Superannuation, Tax planning, Wealth Creation
A “granny flat right” or a “granny flat interest” is where you pay for the right to live in a specific home for life. It must be a private residence and your principal home. You can have a granny flat interest in any kind of dwelling, not just those typically...

2017-2018 financial year in review

Posted on by in Business, General, Investment, Risk Minimisation, Superannuation, Tax planning, Wealth Creation
A good year for investors despite rising trade tensions The year to 30 June 2018 was generally a good one for investors. Global economic conditions strengthened as the year unfolded. This underpinned corporate earnings, especially in the US where the economy was resilient and substantial corporate tax cuts became law....

Budgeting 101 – working out your income and expenditure

Posted on by in General, Investment, Tax planning, Wealth Creation
Working out a realistic budget is a great way to take control of your finances. Although it may seem like a chore, it’s the crux of sound – and sustainable – financial management. In this article we look at how to ‘do the numbers. A budget shows you how much...

June 2018 Economic Update

Posted on by in General, Investment, Superannuation, Tax planning, Wealth Creation
Which key events have been driving markets? Watch this video of Senior Economist Bob Cunneen in discussion with Portfolio Specialist, Sinead Rafferty. Market update Inflation continues to creep higher and is close to or at 2% in major developed markets, although core measures of inflation remain below target. Despite slower-than-expected...

Smart super strategies for this EOFY

Posted on by in Investment, Risk Minimisation, Superannuation, Tax planning, Wealth Creation
Want to help boost your retirement savings while potentially saving on tax? Here are five smart super strategies to consider before the end of the financial year. 1.   Add to your super – and claim a tax deduction This financial year, there are new rules about who can claim a...

Your super and tax: what’s new in 2018?

Posted on by in General, Investment, Retirement, Risk Minimisation, Superannuation, Tax planning, Wealth Creation
Super and tax rules are always changing – providing fresh opportunities to help maximise your retirement savings. Here are two new ways you may be able to help boost your super, as well as your tax return. Good news for employees Before 1 July 2017, you could only claim a...

McKillop FP newsletter – February 2018

Posted on by in Business, General, Investment, Superannuation, Wealth Creation
McKillop Financial Planning‘s February 2018 newsletter – CLICK HERE Articles on: ThreeSixty Research Market Update – February 2018 How to add thousands to your super in just 10 minutes Superannuation and moving overseas Do you have a Shareholders Agreement?...

February Economic Update

Posted on by in Business, General, Investment, Superannuation, Tax planning
DISCLAIMER Content contained in this document is general information only and is not advice, financial planning, legal or otherwise. This document was sourced from MLC Limited by Integrated Planning Systems Pty Limited ABN 21 051 429 184 trading as McKillop Financial Planning, an Authorised Representative of GWM Adviser Services Limited...

McKillop FP newsletter – January 2018

Posted on by in General, Investment, Retirement, Superannuation, Tax planning, Wealth Creation
McKillop Financial Planning’s January 2018 newsletter – CLICK HERE  Articles on: Setting up for retirement success ThreeSixty Research Market Update: January 2018 Your rights when it comes to direct debits Technology: an adversary in the fight for 2% inflation  ...

If only I had a second chance

Posted on by in General, Investment, Risk Minimisation, Superannuation, Tax planning, Wealth Creation
No matter our age, most of us would probably look back on some aspects of our lives and say to ourselves: “If only I could do that again; if only I had a second chance“. This, of course, tends to occur quite frequently in regards to our investing and saving....

McKillopFP newsletter – December 2017

Posted on by in Estate Planning, General, Insurance, Investment, Retirement, Risk Minimisation, Superannuation, Tax planning, Wealth Creation
McKillop Financial Planning’s December 2017 newsletter – CLICK HERE. Articles on: – If only I had a second chance – How to develop a “dynamic” approach to retirement spending – How to make better investment decisions – The power of extra salary sacrificed contributions to superannuation – With our heads firmly in the “The Cloud”...

Salary sacrifice super contributions

Posted on by in General, Investment, Superannuation, Tax planning
As the year draws to a close, it’s worth checking whether you are making the most of your ability to make regular salary-sacrificed super contributions. If your salary-sacrificing contributions are lagging, think about stepping up your contributions for the remaining nine months of the financial year. Your ability to step...

McKillop FP newsletter – September 2017

Posted on by in General, Investment, Retirement, Superannuation, Wealth Creation
McKillop Financial Planning‘s September newsletter CLICK HERE  Articles on: superannuation for young people, global shares as part of your investment portfolio, the $1 million #retirement myth and an MLC August economic update  ...

Claiming tax deductions for super contributions

Posted on by in Business, General, Investment, Retirement, Superannuation, Tax planning, Wealth Creation
Do you make personal superannuation contributions and want to claim them as a tax deduction? Following the close of the 2017 financial year, it is important to ensure that if you wish to claim a tax deduction for personal superannuation contributions made in the 2017 financial year, you lodge a Notice...

ASIC holds $1.1 billion in unclaimed super money

Posted on by in Estate Planning, General, Investment, Superannuation
‘Unclaimed money’ is money from dormant bank accounts, unclaimed life insurance policy payouts and money from shares and other investments that people have not been collected from companies. Unclaimed money is transferred to the Commonwealth after it’s been unclaimed usually for 7 years. People may find they have unclaimed money...

Make the most of this financial year’s super caps

Posted on by in Estate Planning, Investment, Retirement, Superannuation, Tax planning, Wealth Creation
Building your retirement nest egg? Make your contributions before the end of the financial year and you could potentially save more. Changes to super laws mean that from 1 July 2017, the amount of money you can contribute to your super is being reduced. So it makes sense to take...

May 2017 Economic & Market Update

Posted on by in Investment, Superannuation, Tax planning, Wealth Creation
May 2017 Economic & Market Update In this update, Bob Cunneen, MLC Senior Economist talks to Jason Hazell, MLC Head of Investment Communications, about key events driving markets during April 2017. They discuss: Australian shares delivering a solid monthly performance US and European share markets making strong gains in April...

2017 Federal Budget Summary

Posted on by in Asset Protection, Business, Business Succession, Estate Planning, General, Investment, Legal, Retirement, Superannuation, Tax planning, Wealth Creation
Click here to view our budget summary as at 9 May 2017 Key measures from last night’s budget include: Individuals aged 65 or older will be able to make non-concessional (after-tax) super contributions of up to $300,000 from 1 July 2018, using proceeds from the sale of the family home....

May 2017 Reserve Bank Decision – rates on hold (again)

Posted on by in General, Investment, Tax planning, Wealth Creation
At today’s Monetary Policy Meeting of the Reserve Bank Board, the RBA decided to leave the cash rate steady at 1.5%. The cash rate target has been at an historic low of 1.5% since 3 August 2016. Read the Governor’s statement here and the Board’s minutes here (minutes available from 16 May...

Recent changes to Superannuation laws

Posted on by in Investment, Superannuation, Tax planning, Wealth Creation
The Federal Government has been making significant changes to the way in which superannuation is dealt with. Many of the changes come into effect on 1 July 2017 and significant advantages may be available for those to take advantage of the current rules. This is a complex area and one in...

RBA SNAPSHOT: Australian Economy December 2016

Posted on by in Investment, Wealth Creation
The Reserve Bank has released its December snapshot of the Australian economy: Household Saving Ratio 6.3% Average Weekly Earnings $1,161 Average Price of Residential Dwellings $623,000 Population 24.1M (1.4% annual growth) Unemployment Rate 5.6% AUD/USD A$1US$0.7459 Cash Rate 1.5% Inflation 1.3% Economic Growth 1.8%...

Women and super: the facts

Posted on by in Investment, Retirement, Superannuation, Wealth Creation
Did you know that around 90% of women end up with not enough superannuation savings to fund the lifestyle they want in retirement? In fact, the average superannuation account balance for women when they retire is around $90,000 less than the average for men.* There’s no doubt women have a...

Proposed reforms to superannuation

Posted on by in Investment, Retirement, Superannuation, Wealth Creation
Proposed reforms to superannuation Here is a useful infographic summarizing the key proposals for super reform – changes to before-tax contribution caps, changes to concessional contributions tax and concessional contribution caps and pension limits… Note that the proposals are not law yet and they vary from those proposed in the...

Pre-retirees are topping up their superannuation

Posted on by in Investment, Retirement, Superannuation, Wealth Creation
PRE-RETIREES ARE TOPPING UP THEIR SUPERANNUATION Almost one-third of Australians topped up their super in the last 12 months, contributing additional funds over and above employer contributions, according to MLC’s Australia Today report (August 2016). It’s a positive sign that Australians are taking proactive steps to plan for a comfortable retirement lifestyle,...