Plan 2 Prosper

One page summary of investment markets provided by MLC Financial Planning for client distribution.

Investment Review and Outlook May 2007

The 2007 Federal Budget contained measures of interest for families, investors and those planning retirement.  These include:

•·         An increase in the personal income tax thresholds over the next two financial years.

•·         An automatic doubling of co-contribution entitlements for 2005/06.

•·         A range of family benefit and social security enhancements.

•·         A simplification of means testing for aged care residents.

Now is a good time to revisit your financial plan to work out the best way of using the extra cash flow and incentives to maximise the chance of meeting your financial goals.

May 2007 Federal Budget

A one page document highlighting MLC Financial Plannings thoughts on what was and what could be …

April Investment Review and Outlook

The 2007 MLC Adviser Scholarship Graduation Dinner I attended at Sydney’s Centrepoint Tower was quite an experience. This innovative program offers an intensive course that aims to equip students with skills and experiences that, in the normal course of business, would take much longer to acquire. The articles listed from Money Management magazine and the Sydney Morning Herald provide some more background information -

1. MM Adviser Scholarship Program 2007.
2. Rebirth of a Profession

The program provided me with the motivation to question what I was  doing and what it is that I wanted to be doing in the future. During that journey, my wife and I embraced the challenge of becoming self-employed. (more…)

Insurance for Total & Permanent Disability and Death is potentially more attractive to own through Superannuation post 30 June 2007.

• Unlimited tax free death benefits to most superannuation beneficiaries
• Full tax deductions on super contributions for self-employed

Employer-ownership needs reviewing

• Tax trap on employer-owned policies

A review of ownership of life and TPD insurance policies is recommended following the legislated reforms of Australia’s superannuation system that take effect from 1 July 2007.

On the one hand, superannuation ownership will be significantly more attractive and on the other hand employer ownership (where the employee or employee’s family is beneficiary) generally becomes less attractive, particularly in respect of larger policies.

A recent Tax Determination has extended the deductability of Salary continuance or income protection held within a superannuation fund. This determination has a number of implications and is being explored in more detail by many of the technical specialists that operate within the industry.

(more…)