The Effects Of The New Superannuation Rules Are Complex And Should Not Be Underestimated!!

On 23 November, the Australian Parliament passed the Super measures announced in the 2016 Federal Budget.

There are a number of significant changes being made to superannuation and a summary of some of the major changes is available via the following link:

http://nebula.wsimg.com/59c0a5c4ac67ea27de95cd90d4c2e40e?AccessKeyId=255E926C354D54DF0D43&disposition=0&alloworigin=1

The effects of the new superannuation rules are complex and should not be underestimated, but fortunately there are things you can do to minimise the effects. It is important that you take the time to understand the new rules and immediately make appropriate changes where required. It could be that urgent action is required before 30 June 2017 to ensure you are not disadvantaged.

If you are starting to think about your superannuation and retirement, or know you should be planning for your retirement, it is time to start taking action with a trusted financial planning advice discussion to “see what’s possible”. Perhaps you also know someone else who should be talking to us?

HOT TIP: The need for honest, transparent and practical financial planning advice has never been greater, so contact The Financial Advice Shop  without delay. To get things started, we offer a very cost effective Financial Advice Health Check discussion to ensure you can access our experience to understand all of your fees and future superannuation investment strategy options.

We have never had anyone say that our Financial Advice Health Check wasn’t value for money! If you are referred by someone we know, you will even get a discount!

http://www.financialadviceshop.com.au

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The May 2016 Federal Budget Will End Superannuation As We Know It

On 3 May 2016 the Australian Treasurer, Scott Morrison, handed down his first Budget and changes to superannuation were a core theme.

While there is plenty of focus on things that are perceived as negative changes, let’s not forget there are also some important changes that are potentially quite good news.

It is important to note that the Budget measures will not become Law unless Legislation to support the measures is passed in Parliament. Until that time, the Budget measures are simply a proposal.

A detailed summary of the 2016 Federal Budget has been prepared by The Financial Planning Association of Australia and is available via the following link:

2016 Federal Budget Summary

HOT TIP: In relation to superannuation reforms, most of the 2016 Federal Budget measures are planned for a 1 July 2017 commencement so there is plenty of time to plan.

www.financialadviceshop.com.au

#superannuation #May2016federalbudget #superannuationadvice #retirement #womenssuper #retirementplanning #financialadvice #retirementadvice #earlyretirement

What Does It Really Cost Retirees To Live In Retirement?

According to new figures from the Association of Superannuation Funds (ASFA), the costs of living in retirement have risen further. The following table provides a summary of the ASFA findings for retirees who are debt free home owners:Retirement Costs

http://www.financialadviceshop.com.au

 

A Rise In The GST Is Probably On The Way!!

The 2014 Budget has not been very well received and with all the media coverage you would think that all of the bad news was now out in the open.

By using the Budget as a mechanism to starve the States and Territories of cash, the Government has effectively created a way for agreement to be reached to increase the GST. The clever part about the strategy is that the Government will not be asking for the GST to be increased but the States and Territories will be begging for it.

I can see Tony Abbott in a year or so explaining to the Australian people that he did not want to increase the GST but only allowed it to happen because the States and Territories begged him too. It’s a clever political strategy.

So what is the bottom line: get ready for the GST to be increased and for it to be broadened to include food, health services and education.

Not sure what to do……at least you now know who to call.

http://www.financialadviceshop.com.au

Very Important News For Anyone Who receives A Full/Part Age Pension!!

Click Here — Age Pension Flyer

Many people may not be aware of a change to Superannuation Legislation that became law a few weeks ago. The change means that from 1 January 2015 all new Account Based Pensions (formally known as Allocated Pensions) will be “deemed” under the Centrelink Income Test rather than having the currently more generous Income Test assessment arrangements.

What most people may not know is that if after 1 January 2015 an Age Pensioner decides to change their existing Account Based Pension to a new provider to reduce fees then the new rules will apply to the new account. As a result, some Age Pensioners could lose part of their Age Pension.

Fortunately there is a window of opportunity between now and 1 January 2015 for Age Pensioners to get advice and make any changes to ensure they save fees and do not lose any Age Pension entitlements.

If you know anyone who this might affect then let them know asap.

Not sure what to do………at least you now know who to call.

http://www.financialadviceshop.com.au