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Federal Budget 2017: Social security

May 11, 2017 · Published by RJS Wealth Management Pty Ltd

Pensioners who lost their Pensioner Concession Card entitlement due to the assets test changes on 1 January 2017 will have their card reinstated. Those who lost their entitlement were instead issued with both a Health Care Card and a Commonwealth Seniors Health Card. However these cards provided access to fewer concessions than the Pensioner Concession Card.

Federal Budget 2017: Superannuation

· Published by RJS Wealth Management Pty Ltd

From 1 July 2018, people aged 65+ will be able to contribute up to $300,000 into super from the sale of their principal home, if they’ve owned their home for at least 10 years. The existing restrictions for contributions over age 65 won’t apply for these non-concessional contributions.

Federal Budget 2017: Tax (investors)

· Published by RJS Wealth Management Pty Ltd

From 1 January 2018, resident individuals who invest in qualifying affordable housing will be eligible for an increase in the capital gains tax (CGT) discount from 50{89774503f1dc5a8067a215bf11c503ad6eecdd9fbdfb7beae4875fba6258e357} to 60{89774503f1dc5a8067a215bf11c503ad6eecdd9fbdfb7beae4875fba6258e357}. This increased discount will also apply to eligible Managed Investment Trusts (MITs) as of 1 July 2017.

Federal Budget 2017: Tax (businesses)

· Published by R J Sanderson And Associates Pty Ltd

The government will extend the existing accelerated depreciation allowance for small businesses by 12 months to 30 June 2018. If your small business has aggregated annual turnover below $10 million, you’ll be able to immediately deduct the purchase of eligible assets costing less than $20,000 where they are first used or installed ready for use by 30 June 2018. After that date, the immediate deductibility threshold will revert back to $1,000.

Federal Budget 2017: Tax (individuals)

· Published by R J Sanderson And Associates Pty Ltd

From 1 July 2019, the Medicare levy will increase by half a percentage point from 2{89774503f1dc5a8067a215bf11c503ad6eecdd9fbdfb7beae4875fba6258e357} to 2.5{89774503f1dc5a8067a215bf11c503ad6eecdd9fbdfb7beae4875fba6258e357} of an individual’s taxable income. The Medicare levy low-income thresholds for singles, families, seniors and pensioners will increase from the 2016–17 financial year.

Federal Budget 2017: Other Proposals

· Published by RJS Wealth Management Pty Ltd

A new Jobseeker Payment will replace 7 existing working age payments from 20 March 2020.
Job seekers and parents who receive working age income support will have increased activity test
requirements from 20 September 2018.

Set some SMART financial goals for your business in 2017

February 17, 2017 · Published by R J Sanderson And Associates Pty Ltd

It’s a New Year, and a new opportunity to inject new energy and enthusiasm into your business by setting some financial goals. It’s easy to dash off a few ideas on the back of an envelope, but we want you take the idea of goal setting a little more seriously. We suggest you spend some quality time creating achievable goals that tie in with the overall strategy of your business.

When was the last time you updated your SMSF trust deed?

· Published by RJS Wealth Management Pty Ltd

An SMSF, as well as being an excellent way to safeguard your retirement on your own terms, is a type of trust. Setting up an SMSF requires lots of documentation, and the trust deed is crucial, because it sets out the rules for establishing and operating your SMSF. It’s a legally binding document, and it should reflect the current Superannuation rules.

How the best financial planners create wealth and add value

· Published by RJS Wealth Management Pty Ltd

How does a financial advisor provide value? What are you missing out on if you don’t use one? Without a qualified financial planner, your future financial position may be below its potential and/or haphazard. Not to mention the possibility of leaving you and your family at risk of potential financial devastation.

When it comes to investing for retirement, are women more savvy than men?

December 9, 2016 · Published by RJS Wealth Management Pty Ltd

The last thing we want to do is create a gender divide around the subject of investing for retirement. But men and women are different, and without generalising too much, it’s fair to say that they do many things differently. Planning for retirement is no exception.