Plan 2 Prosper

As April was a month of mixed fortunes for sharemarkets, what has it meant for MLC funds?

In this update, MLC Senior Investment Strategist John Owen looks at:

• the impact of ongoing sovereign risk concerns in Europe
• in contrast, the encouraging news coming out of company earnings reports, and
• how MLC funds have fared

View the May MLC Fund Performance Update video here.
Download John Owen video script.

How can you benefit from opportunities in the Federal Budget 2010?

On the back of the Henry and Cooper reviews, this year’s Federal Budget is one of the more eagerly anticipated.

But how will it impact you and your family? How can you make the most of any opportunities it presents?

To find out, subscribe to MLC’s 2010 Federal Budget e-newsletter.

Less than 24 hours after the Budget is handed down, you’ll receive expert information and analysis detailing the key measures, and how they’re likely to affect you.

Where to from here?

If you would like to discuss the topics raised in this video or if you would like more information, speak to your financial adviser or contact Dan Smith of Plan 2 Prosper on 07 49265 570.

• Contact us
• Get more information about an Educational Forum for you and your friends
• Register and receive regular email updates

Dan Smith is self employed and is for many families their trusted Financial Planner based in Rockhampton. He has clients in various locations throughout Australia but predominately in Central Queensland and specifically the geographic area encompassed by the Rockhampton Regional Council.

This information is intended to only provide you with general information and, while the sources for the material are considered reliable, no responsibility is accepted for any inaccuracies, errors or omissions. Before making a decision based on this information, you must consider its appropriateness having regard to your objectives, financial situation and needs. We recommend you obtain professional financial advice specific to your circumstances.

Dan Smith and  Dancin Pty Ltd ABN 71 531 338 371 trading as Plan 2 Prosper are Authorised Representatives of GWM Adviser Services Limited ABN 96 002 071 749 trading as MLC Financial Planning, an Australian Financial Services Licensee, with its Registered Office at 105 – 153 Miller St, North Sydney NSW 2060

Yesterday the Government released it’s response to the much awaited Henry review of taxation. They have announced a range of proposals that are likely to provide a positive outcome to many people.

As with any announcement further analysis will be in the details provided and further clarification received. At this point I would like to highlight some of the key proposals that many of the Technical gurus that live and breathe this stuff are salivating about:

The superannuation guarantee (SG) rate will increase gradually from 9% to 12% from 01 July 2013

The SG contribution age limit will increase from 70 to 75 from 01 July 2013

A Government Super contribution of up to $500 pa will be made for people earning up to $37,000 pa from 01 July 2012 to effectively refund contributions tax paid

The Concessional Contribution (CC) cap will be reinstated to $50,000 pa from 01 July 2012 for people aged 50 and over with Super balances below $500,000

The company rate of tax will gradually reduce to 28% by 01 July 2014 (and two years earlier for eligible small businesses)

Very generous depreciation rules will apply to small businesses from 01 July 2012, and

A 40% Resource Super Profit Tax will be introduced from 01 July 2012

The Government has stated it will not adopt some of the changes contained in the Henry review. It’s also indicated that in coming months it “will have more to say on a number of other areas considered by the review, especially making tax time simpler for everyday Australians, improving incentives to save and improving the governance and transparency of the tax system”.

A list of the full Henry recommendations is contained in Australia’s Future Tax System – Final Report.

The best approach for anyone contemplating further wealth creation, wealth preservation or wealth succession will depend on his or her own personal and financial circumstances, but the key message is that you must do something! There are many strategies that can be accessed even if you don’t have vast sums of money or other resources available.

It is important to regularly review your plan. This helps you take advantage of any current or future opportunities created by:

•Ø      Your changing life situation and goals

•Ø      A changed economic or legislative environment

•Ø      Emerging investment markets and new products

If you have any doubts about your ability to do this, or you would like advice and assistance to guide you through the many options, act now to get the knowledge and mentoring that you need.

Where to from here?

If you would like to discuss the topics raised or if you would like more information, speak to your financial adviser or contact Dan Smith of Plan 2 Prosper on 07 49265 570.

• Contact us
• Get more information about an Educational Forum for you and your friends
• Register and receive regular email updates

Dan Smith is self employed and is for many families their trusted Financial Planner based in Rockhampton. He has clients in various locations throughout Australia but predominately in Central Queensland and specifically the geographic area encompassed by the Rockhampton Regional Council.

This information is intended to only provide you with general information and, while the sources for the material are considered reliable, no responsibility is accepted for any inaccuracies, errors or omissions. Before making a decision based on this information, you must consider its appropriateness having regard to your objectives, financial situation and needs. We recommend you obtain professional financial advice specific to your circumstances.

Dan Smith and  Dancin Pty Ltd ABN 71 531 338 371 trading as Plan 2 Prosper are Authorised Representatives of GWM Adviser Services Limited ABN 96 002 071 749 trading as MLC Financial Planning, an Australian Financial Services Licensee, with its Registered Office at 105 – 153 Miller St, North Sydney NSW 2060