Tax tips and tax return checklist 2020/21

To help you complete your tax return, especially if you’ve been working from home , thischecklist outlines income and expenses you need to disclose to the Australian Taxation Office(ATO) when lodging your return. We’ve also provided an overview of the types of tax off sets anddeductions you may be entitled to claim plus other handy…

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How will the Federal Budget affect you?

During this year’s Federal Budget announcement Treasurer Josh Frydenberg stated“Australia is back!”. The Budget proposes positive changes to superannuation, an extensionof the low and middle income tax offsets and a boost to aged care services. SummaryWe’ve summarised some of the key points from the Budget below but, remember, these are subject tothe passing of legislation:•…

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Market Wrap

The recovery rally marches on Global shares rose 3.3% and 0.6% in hedged and unhedged terms, respectively. Emerging markets continued to rally (up 4.6%) driven by stronger economic data in China with business surveys such as the Caixin PMI pointing to stronger improvement while June quarter GDP showed a sharp bounce back into positive territory.…

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Market volatility and your portfolio

Take a long-term viewInvestment results tend to vary more widely when you just consider the returns over a period of one year.Ten-year returns are generally much more stable and a lot more predictable as can be seen in the chart below.  Impact of reacting to short-term noiseVolatility is part of investing, and whilst we can avoid it,…

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Overcoming the impact of Coronavirus – An economic perspective

How is world faring against the Coronavirus (a.k.a COVID-19)? Since COVID-19 was first detected in China, transmission across the rest of the world has been substantial, as have been the number of deaths. There have been over 3.5 million confirmed cases and over 247,000 deaths. However overall growth rates have slowed globally. This raises confidence…

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Thinking of accessing your super early?

Here are some of the pros and cons To lessen the financial impacts of the Coronavirus situation, the Government is allowing people who are eligible to access up to $20,000 (in two lump sums) of their super for a limited time. Super is designed to provide for you in retirement, but this limited access legislation…

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The Government’s JobKeeper Payment Explained

On 30 March 2020, the Federal Government announced the introduction of the JobKeeper Payment. The payment is a wage subsidy paid by the Government to businesses significantly impacted by the Coronavirus. This will allow employers to continue paying their employees whether they are able to work or not. The Government will provide $1,500 per fortnight…

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The Government’s stimulus package in response to the Coronavirus

In response to the economic impact of the Coronavirus, the Government has announced a number of initiatives to help individuals and businesses at this uncertain time. The changes include accessing some of your super if you’re in financial stress, tax concessions for small businesses and changes to social security benefits. Below is an overview of…

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SMSF regulatory update

The Australian Taxation Office (ATO), as self-managed super funds (SMSFs) regulator, has recently announced it will contact approximately 17,700 SMSF trustees in relation to their investment strategy. This is due to growing concerns that some SMSFs are invested in an overly concentrated manner, typically with real property. The ATO statement can be found here. The ATO…

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