Posts by Gerard Haskew
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…
Read MoreThe 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…
Read MoreThe 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…
Read MoreSMSF 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…
Read MoreProtect Your Income
If you’re employed or self‑employed, income protection insurance can replace up to 75% of your pre-tax income if you are unable to work due to illness or injury. Why protect your income? If you are unable to work for an extended period due to illness or injury, you could run down your savings very quickly and…
Read MoreThe out of pocket burden
• Whilst Medicare is universal, and can cover hospital, medical and pharmaceutical benefits, more than 11 million Australians choose to ‘supplement’ their healthcare funding with private hospital cover and around 13 million had private ancillary cover2 • Notwithstanding the interaction between Medicare and private cover, the individual is often left with a ‘gap’ between the…
Read MoreBudget Summary
The announcements in this update are proposals unless stated otherwise. These proposals need to successfully pass through Parliament before becoming law and may be subject to change during this process. What you need to know – Quick Summary The Budget is forecast to return to surplus in 2019/20 with a positive balance of $2.2bn The economic…
Read MoreMarket Watch – A bumpier ride
– Trump’s trade tariffs with possible repercussions in the form of a trade war and a shake-up in technology stocks, led by Facebook on the back of its privacy violation, meant March was a bumpy ride for Wall Street. The U.S. stock market finished the first quarter of 2018 with losses for the first time…
Read MorePlanning a Holiday? Here are some tips
With the summer holidays almost coming to an end, it’s not too late to do your financial planning for a last minute getaway – or start planning for 2019. Here’s how to minimise your financial stress for a well-deserved break.? Plan ahead The earlier you start planning, the more money you can save. And when it…
Read MoreWhy are more Australians choosing SMSFs?
More and more people are turning to self-managed superannuation funds (SMSFs). We explore why SMSFs are becoming more popular and look at their benefits and risks. What is an SMSF? An SMSF is a private superannuation fund that’s regulated by the Australian Taxation Office. You manage it yourself and can have up to four members…
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