Federal Budget 2020/21

The economic, financial, physical, mental and emotional issues that have arisen due to the COVID-19 pandemic—which immediately followed the devastating bushfires and drought—have undoubtedly been felt by many of us. The Government’s recently delivered 2020-21 Federal Budget aims to focus on rebuilding our economy, creating jobs and securing Australia’s future, with the Government’s ‘COVID-19 Economic Recovery Plan’.

In previous years, the Budget has traditionally been delivered in May, though due to the COVID-19 pandemic, it was delayed and Treasurer Josh Frydenberg delivered the 2020-21 Budget on 6 October 2020.

To read more about the Federal Budget and what it means for you, please access this Federal Budget Report.

Please contact us to discuss any questions you have about the budget and what it means for you.

1 July 2020: Change in the new financial year

1 July 2020: Change in the new financial year

Change has the potential to impact our financial situation, goals and objectives. When this occurs, it’s important to assess the relevance and potential impact—then plan and act accordingly.

A new financial year can mean change—thresholds and rates can increase (or decrease), and legislation can take effect.

Below is a summary of the most notable changes occurring from 1 July 2020 across superannuation, employment, social security and taxation. For a full write up of all changes, please see the original article posted on The Wealth Mentoring Group’s Financial Knowledge Centre on 14 July 2020. Continue reading “1 July 2020: Change in the new financial year”

Financial needs and wants in a post-COVID-19 world

The COVID-19 pandemic has undoubtedly changed the world as we know it. And, while this event is first and foremost a public health issue, other clear and significant issues have also emerged for many of us, be they economic, financial, physical, mental and/or emotional.

While there appears to be some light at the end of the tunnel, and restrictions are gradually being wound back, uncertainty and caution remain—which is an understandable human response.

What we have experienced, and continue to work through, is something truly unique in terms of its overall size, reach and impact. The world grounded to an almost halt, and we were placed in unfamiliar and surreal territory.

What we do know, these changes have affected us on many levels, both temporarily and in some cases permanently. Our strengths and weaknesses, our opportunities and threats, and our values and priorities have been tested. And, with this, some things may revert back to normal, and others may not.

Although there have been many negatives from this event, perhaps one positive has been the opportunity to pause and reflect. By doing so, we have gained insights and learnt lessons about ourselves, which can be used to move forward in a positive direction.

Continue reading “Financial needs and wants in a post-COVID-19 world”

What is a Power of Attorney?

There are different types of Powers of Attorney you can nominate, but the two main ones are a Medical Power of Attorney (also known as a guardianship) and an Enduring Power of Attorney. A Medical Power of Attorney gives another person authority to make decisions about your medical treatment if you’re not physically or mentally able to choose for yourself. An Enduring Power of Attorney (PoA), gives someone the legal authority to manage your financial affairs when you’re unable to do so.

Why would I need a Power of Attorney?

Having a PoA organised is important in case you lose capacity make decisions about your finances through medical reasons, such as age, injury or illness. It can also be worthwhile to organise a PoA if you plan on living or travelling overseas for an extended period of time. Continue reading “What is a Power of Attorney?”

SMSFs: Are they for you?

Self-managed superannuation funds (SMSFs) continue to be popular amongst many investors but ASIC has warned the individuals need to be aware of the potential downside to establishing an SMSF that may be inappropriate for their circumstances.

ASIC Commissioner Danielle Press said:

‘SMSFs may be an attractive option for investors wanting more control over their superannuation investment strategy, but it requires real skill, care and diligence to manage your own superannuation. SMSFs are not for everyone simply because not everyone can meet the significant time, costs, risks and obligations associated with establishing and running one.’

Continue reading “SMSFs: Are they for you?”

Believe in yourself

One of our advisers, Raquel Netto, was recently featured in the Financial Planning Association’s Money & Life Magazine.

It’s a great article highlighting Raquel’s achievements, including winning the Gwen Fletcher Memorial Award for being the highest achieving student in the Certified Financial Planner Certification unit. Raquel discusses the growing role of women in business, the importance of higher education standards in the financial planning profession, study advice, her personal work ethos and the demands of juggling a career, family and study.

Raquel approaches work, study and personal endeavours with the same enthusiasm and drive for excellence.

“My personal value system means that for any project or challenge I take on, I give it 100 per cent, because if I’m not going to give something my very best effort, then I shouldn’t be doing it.”

Drawing on her personal experiences, Raquel’s advice to others is that

“through hard work and by having a positive attitude, you will be able to achieve anything you set your mind to. Always believe in yourself and trust your own judgement.”

The full article is available on the Money & Life website.

1 July 2019: New financial year, new state of play

It’s a new financial year, which means changes in rates and thresholds, as well as changes in legislation. This article focuses on the stay of play from 1 July 2019, with particular emphasis on three key personal finance areas: employment, social security, and superannuation.

1 July 2019: New financial year, new state of play

You can arm yourself with the most up-to-date financial knowledge, by accessing more interesting articles, facts and calculators, through our Financial Knowledge Centre!




Raquel Netto wins the “Gwen Fletcher Memorial Award”

Raquel (w jacket sml)We are thrilled to announce that our very own Raquel Netto has just been awarded the highly prestigious Gwen Fletcher Memorial Award! This award recognises the highest performing student in the first semester of the CFP® Certification Program, which Raquel has recently completed. Raquel was delighted to receive this award, explaining:

“It’s an honour to receive the Gwen Fletcher Memorial Award in recognition of the study and effort I’ve put in to complete the CFP® Certification Program.”

The award honours the memory of Gwen Fletcher (1919-2014), the “First Lady of Financial Planning” as she was known, a champion for the importance of education and its central importance in nurturing the financial planning profession.

The CFP® designation is the only financial planning designation recognised globally. It is a symbol borne by financial planners actively committed through higher education and accountability to adhering to world class professional and ethical standards.

We are so proud of Raquel and given her work ethic, we are not surprised to see her achieve this accolade. We are confident that this award reflects the values and expertise of the entire Wealth Mentoring Group – we are committed to offering our clients the highest quality advice and service!

For a full run down see the following articles:

Money Management

Financial Planning Association of Australia

2019-20 Federal Budget – A ‘Back in Black, Pre-Election’ Budget

There have been many unofficial catchphrases making the rounds with regards to the 2019-20 Federal Budget such as Pre-Election Budget, Back in Black, Budgeting for a Miracle, and Pre-Poll Cash Splash.

This being said, the 2019-20 Federal Budget is being officially referred to by the Government as a ‘Stronger Economy, Better Future for Australians’.

With this in mind, the Federal Budget priorities, and subsequent proposed measures, primarily focus on delivering in the following areas:

  • a better tax system
  • investing in economic and community infrastructure
  • delivering skills for today and tomorrow
  • guaranteeing essential services
  • restoring trust in the financial system

Below we have provided you with an article that covers the main proposed measures that may be relevant to you and your personal finance, as well as three videos that may be of interest if you want to know more.

Please contact us if you wish to discuss any aspect of this year’s Federal Budget or how it may affect you.

2019 Budget: The ‘Back in Black, Pre-Election’ Proposed Measures

Treasurer Josh Frydenberg delivered the 2019-20 Federal Budget on 2 April 2019. We provide you with a summary of the main proposed measures that may be relevant to you and your personal finances.

Read More

2019 Budget: Guardian Australia and the Political Context

Guardian Australia’s political editor Katharine Murphy highlights the political context of the 2019-20 Federal Budget, given the Government’s wish to hand it down before the next election.

Launch Video

2019 Budget: ABC and Key Numbers Explained

As a result of the proposed measures that have come out of Treasurer Josh Frydenberg’s 2019-20 Federal Budget, ABC’s national affairs correspondent Greg Jennett explains the key numbers.

Launch Video

2019 Budget: PwC and the ‘Prudence Prevails’ Budget

PwC’s chief economist Jeremy Thorpe discusses his thoughts on the 2019-20 Federal Budget, “Prudence prevails in this budget, but with challenges around low wage growth there’s a lot more to do.”

Launch Video

Australian Equities: 2018 review

2018 was a challenging year for global sharemarkets, including Australia’s where the ASX 200 declined -6.8% over the calendar year.

The gains made in the first eight months were given up as the sharemarket fell from late August over a growing list of concerns, including, disappointing 2019 growth projections, the impact of higher US rates, the continued US-China trade war and the uncertainty caused by Brexit.

Anton Tagliaferro is the founder and investment director of Investors Mutual Ltd, a boutique, value style Australian equities fund manager. Drawing on his extensive experience with over 30 years in the finance industry, Tagliaferro observes that “in the initial stages of a sharemarket correction, it is not uncommon for almost every stock to fall as many investors rush to reduce their exposure to sharemarkets. However, when the panic subsides, and sanity prevails – which inevitably happens – good quality companies with strong underlying businesses, and with real earnings always recover well.”

Tagliaferro expects to see a period of consolidation in markets following the heavy falls of the December quarter.  He recently shared his outlook for Australian Equities:

“At the end of December, we started to see the emergence of very good value amongst many quality Industrial stocks, which our Funds are heavily skewed towards and we expect the quality of these stocks to show resilience should the sharemarket correct further.”

Continue reading “Australian Equities: 2018 review”