If 2016 taught us anything, it was to expect the unexpected. Britain’s vote to exit the European Union and Donald Trump’s election as the next US President surprised the pundits and markets alike. Markets generally hate surprises, yet in the closing weeks of the year so-called ‘Trump trades’ pushed shares, bond yields and the US
We’re at that time of the year again: the shopping centres are packed, you’re signing dozens of greeting cards, and little miss/mister has just handed you a ‘wish list’ longer than they are tall. And at the back of your mind, you might be hoping for a treat or two for yourself. It’s easy to
The Federal Government has this week passed the superannuation package announced in the May Budget 2016 and later amended in September. Some of the changes that have been passed include: • $1.6 million cap on the amount of tax free superannuation savings a person can hold in retirement. • Concessional contribution cap reduced to $25,000 (from the current $30,000 and $35,000 caps). • Non-concessional contribution cap reduced to $100,000, from the current $180,000. • Lower the current Division 293 tax income threshold from $300,000 to $250,000. • Removal of the 10% rule for deductible personal concessional contributions. Most of these changes will take effect from 1 July 2017. If you would like to discuss any of the above or find out how you can start planning for these changes, feel free to give us a call or make an appointment.
Decisions around aged care are always difficult and emotional. From the start of next year they are likely to get even more complex, with both the Age Pension and aged care sectors set for another shake-up. Currently, many people entering aged care choose to keep their former home and rent it out to help with
Australians are constantly being told they are not saving enough for their retirement. The argument goes that unless you have enough saved in superannuation you will be forced to rely on the Age Pension. But this is not the whole story. Super is undoubtedly the most tax-effective vehicle for retirement savings, despite constant government tinkering
Low interest rates and unsettled sharemarkets make the chase for yield a challenging prospect. And yield is important, particularly for those approaching or already in the retirement phase. Because maintaining capital and enjoying a steady income stream are the two key factors to provide for comfort in the years ahead. But how can you get
Just when those saving for retirement thought the rules couldn’t get any more complex, the Turnbull Government has revised some of the key elements of the controversial superannuation reforms it announced in the May 2016 Federal Budget. Despite this, the reforms still represent significant alterations to the current superannuation system. Assuming the changes are legislated,
Pick an Australian, any Australian, and chances are they dream of buying a home or upgrading the one they already own. There’s the emotional satisfaction of knowing you own the roof over your head, the freedom to rip up carpets and keep a pet, and the stability it offers as you raise a family. But
Today’s consumers are increasingly demanding to know if their morning coffee is ‘fair trade’, their crispy-skinned fish is sustainably caught and their home can be run more efficiently on solar power. So it’s not surprising that many consumers are also choosing to align their ethics with their money. Over the last decade, ethical investing has gone
The 2016 Variety Bash kicked off last weekend and EFS are proud to support this great cause! The Variety Bash is Australia's largest motoring event staged by Variety the Children's Charity and sees participants setting off on an adventure through rural parts of Australia while raising money for children who are disadvantaged or in need.