Here, our financial experts take a close look at what’s happening in the world of finance.
We uncomplicate breaking announcements from the Reserve Bank of Australia (RBA), the Australian Taxation Office (ATO), the Australian Securities and Investments Commission (ASIC) and the Federal and State Governments so you can understand how those changes will impact you, your family or your business.
If you’re wanting to stay up-to-date on topics such as interest rates, tax planning, superannuation, the Federal Budget, incentives and schemes, HELP debt, deductions, concessions, depreciation, investment properties and much more, this is where you’ll find the answers.
Knight is with you every step of the way as you strive for financial success. If you’d like some additional information regarding any financial news, please reach out for a consultation to plan your next step.
Self-Managed Superannuation Funds
According to the ATO around 2,000 Self Managed Superannuation Funds (SMSF)s are being set up every month. This is a great result and shows that more and more Australians are becoming engaged with their superannuation and are taking control of their own destiny. So why have they become so popular? The main reasons given for setting up a SMSF are flexibility and control. You choose your own investment strategy with the help of your adviser and can alter this at
Outlook for 2013
With all of the issues we had to concern ourselves with in 2012 it turned our far better than we might have thought in terms of investment returns and for those brave enough to stick with a diversified investment approach they were well rewarded with some of the best returns since before the GFC. 2012 in review – what were the major themes and how did they pan out 1. No global recession – it was feared throughout 2012 that
How much is enough?
The most common question I receive from those nearing retirement is “How much do I need to retire”. What do they really mean when they ask this? From years of experience I have come to learn that when asked the ‘How much do I need” question people really mean how much do I need to be able to maintain my current standard of living. Most Australians also want to leave their children something in their estates. This needs to be
When a bank is not a bank
The collapse of Banksia Financial Group has left thousands of farmers and other Victorians in regional areas facing a nervous wait to see what, if any, of their savings will be returned. Unfortunately the collapse is not an isolated incident and follows several others in recent years including but not limited to Westpoint and Australian Capital Reserve. Like several other similar ‘non-bank lenders’ in recent years Banksia offered investors high rates of interest on its debentures which it then on
Interest rates and your retirement plan
For those of you who planned your retirement as recently as 12 or 18 months ago it may be time to do your maths all over again. Lower interest rates mean you will need to save more to provide an adequate retirement and have made it increasingly difficult to get even a modest 5% per annum return on your money. With all of the recent economic uncertainty and market volatility we have seen more and more investors seek safety within
Common mistakes of retirees
A retired client opted to take the advice of their family over mine. Apart from the small dent to my ego this also got me thinking about some of the common mistake retirees make day-to-day. All too often people head into retirement basing important decisions on the opinions of those closest to them rather than the advice of an expert. There is little doubt that this advice is given with the very best of intentions, however it cannot replace the
40 Under 40 Awards
This year our CEO, Simon Howard, was nominated for the WA Business News 40 Under 40 Awards. The awards recognise not only the determination and commercial drive of the nominees but also the charitable pursuits that balance their corporate achievements and as such acknowledge their public contributions to the welfare of the state. Unfortunatly Simon did not win the award however the award night was a fantastic success. To check out the 2013 winners please visit: http://www.40under40.com.au/40under40Winners.aspx?Year=2013 Photos from the night are
Employee or contractor?
When hiring, employers need to understand the differences between an employee and a contractor to avoid costly consequences. Many businesses get it wrong when determining if a worker is an employee or contractor because they are not ensuring the arrangements have been set up correctly. It is essential to get the decision right because businesses will face different tax and super obligations depending on whether the workers are employees or contractors. A number of recent case decisions have challenged the
Protect your most important asset at year end
As employees look forward to celebrating the year gone by, employers should not lose sight of their responsibilities. It is easy for staff to become overly enthusiastic at office functions. However, it is the employer who may be held liable for any injury or misadventure suffered by an employee at or directly after an office function, especially if alcohol is supplied. Employers may also face liability for any form of sexual or emotional harassment suffered by one employee from another.
