People aged 65 or over may be eligible to make additional super contributions of up to $300,000 per person from the proceeds of the sale of their home from 1 July 2018. These are known as ‘downsizer contributions’ and they can be made on top of the existing contribution caps, without having to meet certain contribution rules and restrictions.
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“Don’t sail out farther than you can row back.”  This Danish saying is sound advice, and can also apply to anyone thinking of borrowing to buy a home.
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The Government announced personal tax cuts in the Federal Budget together with a number of integrity measures.  Tax cuts will phase in over 7 years and will culminate in  the reduction of tax brackets from 5 to 4[…]

The Federal Budget did not deliver much to businesses other than the extension of the immediate asset write off for eligible assets of up to $20,000 for small businesses.  Much of the focus was on integrity measures to protect the revenue base[…]

Federal Budget was relatively quiet on superannuation this year.  Not surprising given that we have just been through the most comprehensive reforms since 2007.  However, there were a few items to be aware of and which may offer some planning opportunities[…]

Take a look at our wealth portal with this introductory video.

If you would like access please call us on 03 9629 1433.

Centrelink Pension Asset Test changes from 1 January 2017

Essentially the Assets test “taper-rate” will increase from $1.50 per $1,000 to $3 per $1,000 of excess assets over the initial threshold. This means the reduction in the maximum Age Pension due to excess assets will increase. While the initial thresholds are increasing, the increased taper-rate will lower the cut-off levels for the Age Pension. So, while some pensioners may gain an increase in payments many others (as much as 91,300) may find that the no longer receive any Age Pension because of the changes. […]

Since the Budget night we have been in a holding pattern waiting to see if the proposed changes would become a reality. After considerable debate and deliberation the Government has now appeared to have finalised its grand plan for superannuation moving forward. As a consequence of yesterday’s announcement we felt that it would be worthwhile summarising the changes and provide some commentary on what it means to you. […]

B & W Additions Pty Ltd is very pleased to inform you that as of 1 July 2015, Rodney Johnstone has joined our financial planning team

Rodney is a very experienced Certified Financial Planner who has been in the Financial Planning industry for over 20 years.  Rodney has expertise across many areas of financial planning including a detailed knowledge of Centrelink aged pensions and aged care issues. […]