Trustees of Self-Managed Superannuation Funds (SMSFs) looking to diversify their investment strategy may consider artwork as a viable alternative asset class. Artwork for such superannuation purposes includes paintings, sculpture, drawings, engravings, photographs and reproductions. There are several issues trustees should address before purchasing. There are rules which came into effect from 1 July 2011 which…
Dennis Jones CFP, the Principal of Beacon Wealth and Christopher Cachia CFP, the Principal of CCA Financial Planners (CCA Fp) have been friends and work colleagues since 1996. Dennis and Chris have attended many conferences and technical workshops together over the last twelve years and in February this year completed the Stanford University Leadership…
The NAB and CBA have today announced a reduction in their variable mortgage rates of 0.2%. While this is not the full 0.25% cut by the Reserve Bank on Tuesday, it is certainly welcomed by all of us with a mortgage. NAB’s cut will come into effect on October 8, saving $50 per month on…
Are you the sole breadwinner in the family? If yes, did it ever occur to you how your family would survive if you were unable to work? This may not happen in the near future, but it pays to be prepared so that this will not catch you by surprise. In fact, in Australia alone,…
The following are the changes in the Federal Budget as announced last week. We see these changes in the concessional super contributions caps and contribution taxes likely to affect some of our clients. Higher contributions tax for very high income earners The tax concession on contributions of earners of over $300,000 will go down from…
An amendment to the Exposure Draft Superannuation Legislation was released by the government in December 2011. Known as the Exposure Draft Superannuation Legislation Amendment (Trustee Obligations and Prudential Standards) Bill 2012, this amendment added a number of covenants to the existing legislation document and increased the scope of obligations for trustees and licensees of superannuation…
Getting hurt is no fun, especially when your injury disables you to the point where you’re unable to work. Sure you may be covered by Worker’s Compensation if you suffer an accident in the workplace, but what if you are injured or become ill outside of work? Again your employer may provide sick leave benefits…
Whole of life insurance was once the norm in Australia but this type of insurance has been replaced with Term Life Insurance. Historically, whole of life insurance was permanent life cover that held a cash value that you could surrender or cancel at any point during your policy and receive a cash payment. In the…
Life insurance and income protection insurance for the Mining Industry is often thought of as too risky and difficult to obtain the required cover for the various occupations within the industry. Australian Life insurance providers may have declined cover for the mining industry in the past, despite the fact that in 1994, a study into…
The global and Australian sharemarkets have rallied around 40% from their March lows in anticipation of an earnings recovery. Matthew Sherwood, Perpetual’s Head of Investments Market Research evaluates the recovery and finds that although economic growth should improve in H2 2009, markets appear to be experiencing valuation fatigue and will need analysts to upgrade FY2010…