Wealth Management

We all have different goals and objectives in life, and an effective wealth management strategy can help achieve these in a flexible way. Our experts unpack some of the key Wealth Management changes announced on Budget night in relation to: 

  • Protection measures around superannuation and removal of compulsory insurance for younger Australians.
  • Pension Loan Scheme.
  • Reinforcement of proposal to introduce 'Complete Income Replacement Scheme'.

INDIVIDUALS AND FAMILIES

SMSF

More people than ever are choosing to take greater control of how their super is invested. Our experts unpack some of the key superannuation and SMSF changes announced on Budget night in relation to: 

  • Three-yearly audit cycle for some SMSFs. 
  • Increased membership of SMSFs to six (up from four).
  • Franking credits.
  • Super work test exemption for recent retirees.

Risk Insurance

Maintaining you and your family's financial well-being in the case of illness or disablement is an important consideration for most people. Our experts unpack some of the key Risk changes announced on Budget night in relation to: 

  • Opt-in insurances for certain member categories. 
  • Lower-middle income tax offset and insurance opportunities.
  • Increased membership of SMSFs to six (up from four).

Lending

The finance industry is more complex than ever before, with frequent changes to interest rates and more selective lending. Our experts unpack some of the key Lending changes announced on Budget night in relation to: 

  • Tax concessions in terms of low-income tax offsets.
  • Increased disposable income.
  • Ongoing tax company concessions.

Accounting & Tax

Navigating the complexities of taxation can be a critical factor for all individuals and businesses. Our experts unpack some of the key Tax and Accounting changes announced on Budget night in relation to: 

  • Seven-year Personal Income Tax Plan to be introduced. 
  • Medicare levy - low income thresholds to increase.
  • Retaining Medicare levy at 2%.
  • Funding to ATO for compliance activities targeting individual taxpayers.

Note* All clients with income under $125,333 will have more disposable income. A $200 offset is available for clients under $37,000 and for clients over $90,000 the offset will reduce by 1.5 cents for every $1 of taxable income cutting out at $125,333.

Read our disclaimer - May 2018