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In a raft of initiatives aimed at improving economic outcomes for women, particularly in the superannuation space, the government has proposed changes, including extending the ability to access early release of superannuation for women experiencing family and domestic violence, better visibility over superannuation in divorce/separation proceedings, and actively reuniting lost and low-balance inactive super accounts with their owners.
Read More“Life is a journey, not a destination” and “It is not the length of life, but the depth” are just two of the many famous quotes to come from Ralph Waldo Emerson, an American poet, lecturer, essayist and philosopher.
Read MoreGlobal employment continues to improve in October, however markets have reacted negatively to trade risks, Brexit uncertainty and concern over Italy’s fiscal position ...
Read MoreFor some, financial success might mean having $1 million in investment assets and retired at age 65. Whereas, for others, it’s owning their own home and having enough behind them to live year on year.
Read MoreMany industries utilise jargon (‘technical words’) when disseminating information. The finance industry is no exception in this regard. For example, you may come across finance-related jargon in the finance section of the news, share marketsummaries and investor reports. Importantly, we are conscious of this fact, which is why we have put together an article to help you understand some of the commonly used finance-related jargon in the share investing environment.
Read MoreWith the big financial institutions rushing to compensate their customers as a result of the media exposure from the Royal Commission, now is the time to look at the tax consequences of such payments. Put simply, the tax treatment of this type of compensation received depends on what the compensation is being paid for and how the investment was held. The tax consequences of each amount must be carefully considered to ensure that each component is treated appropriately.
Read MoreIf you have an ongoing fee arrangement with a financial adviser or a AFS licence holder, they are required by law to provide you with a Fee Disclosure Statement (FDS) every 12 months and a renewal notice every 2 years. These measures are designed to enable consumers to get a better understanding of the advice services they are being charged for and to reduce the likelihood of passive or disengaged consumers being charged ongoing fees. ASIC is currently undertaking a review on these 2 requirements to ensure continuing confidence in the industry.
Read MoreWith Christmas fast approaching, the ATO has reminded employers and business owners about the potential FBT implications of providing office Christmas parties and gifts to employees. Whether or not the party or the gift attracts FBT depends on a number of factors including how much it cost, where the party is held, or the type of gift that is given. One of the essential things to remember is to keep good records so if you’re unsure about your FBT implications down the track an experience professional can help.
Read MoreAs a part of hearings into ASIC’s oversight functions, the regulator presented the Parliamentary Joint Committee on Corporations and Financial Services with a range of policy solutions to be considered to remedy deficiencies identified in the SMSF space from its recent reports. Recommendations raised by ASIC include compulsory education for trustees, prohibiting limited recourse borrowing arrangements, and mandating a minimum SMSF balance.
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