Tuesday night’s Federal Budget, delivered 5 months late due to the COVID-19 pandemic, contained a variety of measures across taxation, superannuation, social security and aged care that will affect many of our clients and their financial plans.
Tuesday night’s Federal Budget, delivered 5 months late due to the COVID-19 pandemic, contained a variety of measures across taxation, superannuation, social security and aged care that will affect many of our clients and their financial plans.
At its meeting today, the Board of the Reserve Bank of Australia have decided to maintain the targets for the cash rate and the yield on 3-year Australian Government bonds of 25 basis points.
At its meeting today, the Board of the Reserve Bank of Australia have decided to maintain the targets for the cash rate and the yield on 3-year Australian Government bonds of 25 basis points.
At its meeting today, the Board of the Reserve Bank of Australia have decided to maintain the current policy settings, including the targets for the cash rate and the yield on 3-year Australian Government bonds of 25 basis points.
Key tax & lodgment dates for the August-October quarter 2020
During the last quarter one story has dominated the news and investment markets – COVID-19.
As the COVID-19 virus took a sledgehammer to the economy, the federal government rapidly introduced a range of initiatives to help individuals who lost income as a result of the measures taken to control the virus.
One of those initiatives was to allow qualifying individuals access to a portion of their superannuation to help them meet their living costs. Withdrawals are tax free and don’t need to be included in tax returns. Most people can withdraw up to $10,000 in the 2019/2020 financial year and up to a further $10,000 in the 2020/2021 financial year.
Don’t have a Will? You’re in good company. Less than half of Australian adults do. Even then, many Wills are out of date or invalid. The upshot is that hard earned wealth may be fought over by family or distributed by government formula, and not end up with the preferred beneficiaries.
At its meeting today, the Board of the Reserve Bank of Australia have decided to maintain the current policy settings, including the targets for the cash rate and the yield on 3-year Australian Government bonds of 25 basis points.
At its meeting today, the Board of the Reserve Bank of Australia have decided to maintain the current policy settings, including the targets for the cash rate and the yield on 3-year Australian Government bonds of 25 basis points.
Financial planning, corporate benefits and mortgage services are provided by AGS Financial Group Pty Ltd ABN 70 093 990 946, an Authorised Representative of AMP Financial Planning Pty Limited ABN 89 051 208 327 (AMPFP), AFS Licence No 232706. Accounting, taxation, and business advisory services are provided by AGS Accounting Pty Ltd ABN 12 166 728 696. AGS Accounting Pty Ltd is a member of Chartered Accountants Australia & New Zealand. Liability limited by a scheme approved under Professional Standards Legislation.