At it's meeting today, the board of the Reserve Bank of Australia have announced a drop in the cash rate by 25 basis points to 1.25%, a new record low.
In a statement from Reserve Bank of Australia Governor Philip Lowe, it confirms "the Board took this decision to support employment growth and provide greater confidence that inflation will be consistent with the medium-term target".
Financial Planning. That’s for people with lots of money to invest, isn’t it?
Not necessarily.
Tuesday night’s Federal Budget, delivered a month early in anticipation of the upcoming Federal Election, contained a variety of measures across taxation, superannuation, social security and aged care that will affect many of our clients and their financial plans. Please note that these proposals are not yet legislated, and as always, the team at AGS Financial Group are well placed to advise you on your strategic options as these proposals progress.
Who decides what happens to your superannuation savings when you die?
You may think that you do, but that isn’t always the case. The ultimate decision may be made by someone you don’t even know – the trustee of your superannuation fund. Let’s look at how you can have greater control.
…pay more attention to my super.
I would take mental ownership of it rather than thinking it’s just something for old people to worry about.
Ever wondered why some people get better interest rate deals than others? Perhaps you’ve had a chat at a barbecue and discovered your host is paying a lesser rate than you?
When you dispose of an asset and make a capital gain, you may be liable for extra tax. There is no separate tax rate for capital gains. Instead, some or all of the capital gain is added to your assessable income and taxed along with your other income at your marginal tax rate.
Another year is over - how was it for you? Did you achieve everything you’d hoped? Are you better or worse off financially than you were this time last year? With a new year in front of you, what can you do to make the most of every moment?
We’ve put together a guide to get you started and plan for the year ahead.
Superannuation statements. Boring, right? But if, like many people, you toss your annual super statement in a drawer or hit delete, you could be depriving yourself of many thousands of dollars just when you need it.
The government regularly reminds us that each Australian must take responsibility for funding their future. Regardless of when you will be able to access your super, or when you choose to stop working, you need to be aware of how your superannuation is being managed and if the final balance will be sufficient when you’re ready to retire… and for the years beyond.
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.