Financial Planning News & Insights
New $2m Transfer balance Cap
The transfer balance cap is the limit on the total amount of superannuation that can be transferred into the retirement phase.
Reserve Bank of Australia 2025 meeting dates
The Reserve Bank of Australia's Board meets eight times a year, following the release of key economic data on inflation and economic activity.
RBA Announcement - December 2024
At its latest meeting, the Reserve Bank Board announced it was leaving the cash rate at 4.35 per cent.
The Value of Advice
The Russell Investments’ seventh annual Value of an Adviser Report revealed that Australian financial advisers added approximately 5.7 per cent in value to their clients over the past year.
Transition into Retirement
Research shows that Australians are increasingly working to older ages, which makes a transition to retirement (TTR) strategy a key planning tool if you have reached age 60.
Insuring against loss of income
Protecting income from unexpected illness and injury is particularly important to anyone with a mortgage to service, small business owners and self-employed people with no sick leave available.
Work Test Rules
When making super contributions when over 67 years old, to make the contributions deductible, you will need to satisfy the “Work Test”.
Next move for Interest Rates?
An interest rate cut is widely expected in September in the US but in Australia, many commentators predict a rate rise before cuts.
2024/25 Financial Year Tax Cuts
The Australian Government has made changes to individual income tax rates and thresholds. This will apply to all taxable income you earn from 1 July 2024.
A $4.2 billion budget surplus announced
Treasurer Jim Chalmers presented a Federal Budget with a surplus, but more importantly an economic strategy to help ease cost-of-living pressures.
Developing a Retirement Budget Plan
At FLP, we encourage our clients to live the life they want to live by developing a plan to enjoy their money.
6 year Primary Residence Rule
The 6 year Primary Residence rule allows you to turn your primary place of residence into an investment property for up to six years without having Capital Gains Tax (CGT) implications.
Superannuation Contribution Limits Increase
The concessional and non-concessional contribution caps are set to increase from 1 July 2024. These changes present an opportunity to further enhance your retirement position.
The 50/30/20 Budget
To achieve your financial goals in 2024, we need to know where our money is going. This is why having a budget is so important.
Why time in the market matters
While some argue that volatility could remain muted, others suggest it could increase again in 2024, citing an overheated market and credit market strains.
Sowing the seeds for a happy retirement sooner
The thought of retirement is an enticing one for many of us. Imagine throwing off the shackles of the workforce and being able to do whatever you want, whenever you want.
The Australian Dollar post-pandemic
It has been a wild ride for the Australian dollar since the Covid-19 pandemic struck and that could mean good news or bad news for your investment portfolio.
$109 Trillion Global Stock Market
Global equity markets have nearly tripled in size since 2003, climbing to $109 trillion in total market capitalisation.
Are tax returns still required when retired?
While income stream payments from super for those over age 60 are paid to you tax free, investment income and taxable Centrelink payments are still assessed.
Superannuaton Guarantee (SG) rate increase
The Superannuation Guarantee (SG) rate has increased from 10.5% to 11% as of 1st July 2023.