The Australian share market finished the fiscal year with its best performance since inception, with the market gaining 23.9% over the past 12 months. For June, Australia’s S&P/ASX 200 Index rose 2.3%. The recent value rotation showed some signs of weakening, with the S&P/ASX 200 Value Index returning 1.6% for the month, versus a return of 3% for the S&P/ASX 200 Growth Index. The best performing sectors for the month were information technology (+13.4%), followed by communications services (+5.6%) and property (+5.3%). Financials was the only sector to finish in the red for the month (-0.2%).

Read More

Would you like to hold a wine collection, artworks, or a classic car in your SMSF? Well, you can if you follow some strict rules.

Read More

It is no surprise that the ATO is keeping a close eye on individual tax returns this year.

Read More

On 1 July 2021, the Superannuation Guarantee rate will rise from 9.5% to 10% – the first rise since 2014. It will then steadily increase each year until it reaches 12% on 1 July 2025.

Read More

Businesses that have utilised economic stimulus measures such as loss carry-back, temporary full expensing and accelerated depreciation need to take extra care this tax time.

Read More

Trustees of SMSFs have a responsibility to ensure that any account-based pensions commenced upon retirement of beneficiaries meet the minimum pension payment requirements.

Read More

The RBA left the cash rate unchanged at a record low of 0.1% during its June meeting, as widely expected. Policymakers reaffirmed their commitment to maintaining highly supportive monetary conditions until at least 2024 when actual inflation is expected to be within the 2-3% target. First quarter GDP came in at 1.8% qoq, beating market expectations of 1.5%, a third consecutive quarter of economic growth driven by continued growth in household consumption and private investment. The RBA board outlined it expects GDP to grow by 4.75% this year and 3.50% in 2022, supported by fiscal measures and accommodative financial conditions, while jobs, inflation, and wage pressures are expected to remain subdued.

Read More

Individuals finding themselves in financial strife with an ATO debt may be able to apply to be permanently released from the debt. There are conditions attached to the debt release

Read More

The end of the 2020-21 financial year is close at hand, with 30 June on the horizon. Please consider a review of your existing personal finances, and see if there is anything you can do between now and then that could benefit your financial situation, goals and objectives.

Read More