Can you believe it!?
Easter is this Sunday.
Where has the Quarter gone!
Welcome to our first edition for 2017.
One of the biggest things on the minds of investors at the moment is the 2017 Federal Budget. The Federal Government has flagged housing affordability as its major priority and wants to see more Australians buying their first property. The Treasurer has also indicated a tax on empty housing stock could be in the May budget, along with plans to encourage elderly Australians to downsize their homes.
The Superannuation changes mentioned in last year’s budget come into effect on 1 July this year, changes include:
- Reduction in the before tax contribution cap
- Reduction in the after tax contribution cap
- $1.6m cap will be introduced for pension phase superannuation accounts
- Transition to Retirement pensions will lose their tax exemptions
I have attached an article explaining these changes in more detail, however, if you have any further queries please give us a call.
The Australian Share market (ASX 200) has started the year very well, in fact earlier this week it has hit a two year high. The property market has continued to maintain its growth with double digit annual returns still being seen in Sydney and Melbourne. Banking regulators are becoming increasingly nervous about this and have implemented macro-prudential changes to lending standards. In wake of this, many Australian lenders have changed their credit policies. If you have any queries or concerns about how this affects you please give us a call.
I have attached a wide variety of articles for you to read over your Easter break including how much you need to retire comfortably (Is one million dollars enough to retire on?).
Have a great Easter and if you are travelling please drive safely,
Alex Sutherland BCom (Ec&Fin), Dip(FP), CertSMSF