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What Does the Future Hold for Booming Property Prices

Residential property prices are booming not only in Australia but also around the world. What’s the view for property investors and what factors should you consider before taking the leap?   Vanguard Australia’s finance journalist Tony Kaye wrote a good article about this recently which you can read HERE. Another good source of information comes from market-leading digital advertising business specialising in property: realestate.com.au.  Interesting insights can be gleaned about your local city market in the market outlook by property research analyst Cameron Kusher HERE.  

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MyGov Online Services Now Important For Financial Planning

 The ATO online services site, accessible through MyGov, has evolved over time to become a very useful tool for individuals in managing their superannuation and accessing superannuation information. Through MyGov, clients can now look up their superannuation information such as carry forward unused concessional contributions, total superannuation balance or transfer balance cap transactions, saving valuable time and minimising the risk of missing important information. Our friends at Colonial First State have put together this handy guide to get the most out of your MyGov account. Read it HERE

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Global Market Outlook Underpinned By The Great Reopening

Share markets have rallied on hopes for an economic recovery as coronavirus-imposed lockdowns are eased across the globe.  The market rebound means that value is no longer as compelling for global equities or credit investments.  On the other hand, the cyclical outlook has improved amid vast fiscal and monetary stimulus and economic reopening. The reopening trade can be dated from 6th November 2020, when Pfizer announced the first successful COVID-19 vaccine. Since then, the best performing asset classes have been small cap and non-U.S. equities, global real estate investment trusts (REITS), commodities and the value factor.  In summary, the asset …

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Superannuation Rule Changes From 1 July

The start of a financial year always brings new rules for superannuation fund members.  The following article looks at some new (and not-so-new) rules in more detail. Employer Superannuation Guarantee Contributions (SGC) Increasing to 10% of Salary The SGC rate increases from 9.5% to 10% of salary for employees. Most employees will receive additional superannuation contributions. An exception is employees who are paid mandated employer contributions at a rate at or above 10% already, who will see no increase (for example certain government or university employees). Small business owners should review their systems to ensure that they are meeting their …

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Self-Funded Retirees Get Extension of Minimum Pension Relief for 2021-22 Financial Year

The Government has passed regulations to extend the temporary reduction in superannuation minimum drawdown rates through to the 2021-22 financial year. Minimum pensions will again be halved for all account-based and term allocated income streams as follows for the 2021-22 financial year. Your Age Normal Minimum Pension (% of 1 July balance) Reduced Minimum for 2021/22 Under 65 4% 2% 65–74 5% 2.5% 75–79 6% 3% 80–84 7% 3.5% 85–89 9% 4.5% 90–94 11% 5.5% 95 or older 14% 7% Your existing superannuation pension account will retain your existing arrangements and not make any changes without your instructions (i.e. keep pension …

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