Independent Advice

We now know that Scott Morrison, or ScoMo as they call him, may have lost the campaign, but he’s won the Election and with that, the right to remain Australia’s 30th Prime Minister. A couple of days on, here’s a list of some of the winners and losers from the past weekend’s election.  

Some of the winners are:  

Scott Morrison:  

Hewison Private Wealth is a Melbourne based independent financial planning firm. Our financial advisers are highly qualified wealth managers and specialise in self managed super funds (SMSF), financial planning, retirement planning advice and investment portfolio management. If you would like to speak to a financial adviser on how you can secure your financial future please contact us 03 8548 4800, email info@hewison.com.au or visit www.hewison.com.au

Please note: The advice provided above is general information only and individuals should seek specialised advice from a qualified financial advisor. The views in this blog are those of the individual and may not represent the general opinion of the firm. Please contact Hewison Private Wealth for more information.

Independent Advice

Soon after this policy announcement, the Labor party announced they too would match the proposal; it seems we need to take it seriously as it looks like one way or another this policy, or a variation of it, is likely to be implemented.

Hewison Private Wealth is a Melbourne based independent financial planning firm. Our financial advisers are highly qualified wealth managers and specialise in self managed super funds (SMSF), financial planning, retirement planning advice and investment portfolio management. If you would like to speak to a financial adviser on how you can secure your financial future please contact us 03 8548 4800, email info@hewison.com.au or visit www.hewison.com.au

Please note: The advice provided above is general information only and individuals should seek specialised advice from a qualified financial advisor. The views in this blog are those of the individual and may not represent the general opinion of the firm. Please contact Hewison Private Wealth for more information.

Independent Advice

Most commentators will tell you that the Government is selling a ‘steady as she goes’ conservative plan for the future, unwilling to commit huge sums of money in any area, such as schools, health or climate change. Come 2020, they are projecting Australia’s first surplus in more than a decade.

Some may say that this is sound economic management given the economic uncertainty in the short term. That said, the Government plans to give back what it’s saved by way of tax cuts. By 2024-25, they predict 94% of Australians will pay 30% tax or less.

Hewison Private Wealth is a Melbourne based independent financial planning firm. Our financial advisers are highly qualified wealth managers and specialise in self managed super funds (SMSF), financial planning, retirement planning advice and investment portfolio management. If you would like to speak to a financial adviser on how you can secure your financial future please contact us 03 8548 4800, email info@hewison.com.au or visit www.hewison.com.au

Please note: The advice provided above is general information only and individuals should seek specialised advice from a qualified financial advisor. The views in this blog are those of the individual and may not represent the general opinion of the firm. Please contact Hewison Private Wealth for more information.

Independent Advice

Non-Concessional Contributions

Under current law, the maximum non-concessional (after tax) contributions that can be made to superannuation is $100,000 per financial year, provided this contribution won’t take you over the $1.6 million total superannuation balance. The bring-forward rule, allows individuals under 65 to bring forward two additional years’ worth of contributions, meaning a maximum of $300,000 can be made.

Labor is proposing the non-concessional contribution cap be reduced to $75,000. This would also see the bring forward amount reduced to $225,000

Hewison Private Wealth is a Melbourne based independent financial planning firm. Our financial advisers are highly qualified wealth managers and specialise in self managed super funds (SMSF), financial planning, retirement planning advice and investment portfolio management. If you would like to speak to a financial adviser on how you can secure your financial future please contact us 03 8548 4800, email info@hewison.com.au or visit www.hewison.com.au

Please note: The advice provided above is general information only and individuals should seek specialised advice from a qualified financial advisor. The views in this blog are those of the individual and may not represent the general opinion of the firm. Please contact Hewison Private Wealth for more information.

Independent Advice

Consider the situation where the couple in question wish to ensure their likely substantial assets, transfer smoothly to each other should one of them die, and once they have both died their assets are split evenly between their children (including those from their previous relationships).

Often there is a concern that one or more of the children may not be completely happy with assets passing to the new partner upon the death of their parent, particularly if the relationship between these parties is not great.

Hewison Private Wealth is a Melbourne based independent financial planning firm. Our financial advisers are highly qualified wealth managers and specialise in self managed super funds (SMSF), financial planning, retirement planning advice and investment portfolio management. If you would like to speak to a financial adviser on how you can secure your financial future please contact us 03 8548 4800, email info@hewison.com.au or visit www.hewison.com.au

Please note: The advice provided above is general information only and individuals should seek specialised advice from a qualified financial advisor. The views in this blog are those of the individual and may not represent the general opinion of the firm. Please contact Hewison Private Wealth for more information.