05/05/12: Federal Budget 2012

What the Budget means for the economy and investors...

Last night's Federal Budget contained only a few surprises as many of the measures had already been legislated pr pre-announced. The main winners were lower income earners, families and the elderly. Below is a summary of the budget measures ('Budget Wrap') plus two videos from Dr Shane Oliver which discuss the implications from and economic and market perspective. The main proposals which may affect you, our client, include

(1) the deferral of higher contribution caps for individuals aged 50 and over - in other words, everyone will be limited to $25,000 in concessional contributions for 2012/13;

(2) reduced tax concession on concessional contributions where annual income exceeds $300,000;

(3) the company tax rate cut has been abandoned;

(4) a range of means testing arrangements for social security benefits.

If you have any questions regarding the budget, don't hesitate to contact me personally.  Rick Maggi

Budget Wrap

What does it mean for the economy? (video)

What does it mean for investors? (video)

21/04/12: Aged-care changes to aid baby boomers

Landmark aged care changes announced

The Government has released a range of proposed changes to aged care and options for older Australians.

Many of the proposals address issues raised by the Productivity Commission including (a) options to allow individuals to continue living in their home (b) contributions to the cost of care by individuals and (c) centralised areas for seeking information. At this stage there is no legislation to support the changes, so it is possible that the details may change once legislation is introduced into Parliament.

A quick video summary can be found here. For more specific details, feel free to contact Westmount.  Rick Maggi

18/04/12: IMF expects solid Australian growth

Good news...

Today, the International Monetary Fund (IMF) kept a broadly upbeat outlook on Australia's economy. Read more here  Rick Maggi

22/03/12: Mining boom to shift into overdrive

$60 billion export surge

The pay-off from the surge in resource investment is at hand, with rapid growth in export volumes now evident and set to continue for the next 5 years, far outweighing any weakness in prices. Read more here.   Rick Maggi

14/03/12: Dow Rises to Highest Level Since 2007

Good news...

US stocks advanced strongly again, sending the Dow Jones up over 200 points, to the highest level since 2007, well past 13,000. Read more here

30/03/12: Shopping for advice

ASIC's 'Shadow Shopper' survey is in...

In this article, Vanguard's Robin Bowerman discusses the recent shadow shopper survey results and what it all means.  Rick Maggi Shopping for advice

22/02/12: Europe seals Greek bailout

Default averted, but risks remain

Please read on for information about the new deal.  Rick Maggi Wall Street Journal

17/02/12: Greece & Europe: What are the risks?

What's the risk of a disorderly default and euro break-up?

Utterly exasperated, many would now like to see Greece immediately comply or leave the Eurozone. This article looks at the risks and potential impact. Rick Maggi  Read here

07/02/12: Rates left on hold

The Reserve Bank has shocked the markets and homeowners by deciding to keep rates on hold at 4.25 per cent.

Despite overwhelming pressure for a rate cut the RBA has adopted a more conservative "wait and see" approach after two consecutive rate cuts last year.

The Australian dollar shot above $US1.08 immediately after the RBA announcement and the stock market shed 35 points as investors digested the surprise move. The RBA board judged the setting was "appropriate" as growth was close to trend, lending rates were close to their medium term average and inflation close to its target level.

Clearly, the RBA has left the door wide open for future rate cuts, depending on whether global and local economic conditions deteriorate much further.    Rick Maggi

30/11/11: Mini-Budget 2011

Superannuation and tax announcements

Read below for a summary of the Federal Government's mini-budget announcements.   Rick Maggi  Mini Budget 2011-12

06/10/11: Steve Jobs - How to live before you die

Steve Jobs

With the passing of Apple CEO and co-founder Steve Jobs today, his 1995 Stanford University speech seems timely and poignant.

Stanford University Speech

"...brave enough to think differently, bold enough to believe he could change the world, and talented enough to do it."  Barack Obama

29/09/11: What the world needs now...

Have global policy makers run out of bullets?

The chronic failure of Europe to bring its debt problems under control, an ongoing flow of poor global economic data combined with alarmist comments from global officials has seen global share markets retest lows. AMP Capital's Dr Shane Oliver shares his views. Read Oliver's Insights

11/09/11: 10 years later

Remembering 9/11

28/10/11: The European Plan

Europe gets a financial plan

This New York Times article is a good summary of the EU deal announced in the last 24 hours.  Read here

09/08/11: US credit downgrade - implications

US downgrade no surprise...

Saturday's downgrade of the US credit rating from AAA to AA+ by Standard & Poors wasn't a surprise, but the emotional impact has had its consequences. AMP's Dr Shane Oliver provides a balanced perspective… Download Article

02/08/11: August 2011 Snapshot

More on the Carbon Tax...

This August snapshot comes to grips with with the key components in the federal government's recent policy announcement on carbon tax and emissions. August 2011 Snapshot

24/06/11: June 30 Alert

4 Quick Tips

It's the end of the financial year. Here are 4 tips to reduce your tax… Click here

24/05/11: Be careful out there...

Tax traps!

As another financial year draws to a close, a word of caution... Click here

11/05/11: 2011 Federal Budget Summary

2011 Federal Budget

The Federal Budget has delivered little in the way of surprises with many of the measures well publicised before budget night.  The following is a two-part summary of the budget proposals - Part 1 is a basic overview and Part 2 focuses on super, taxation and social security. 2011 Federal Budget - Part 12011 Federal Budget - Part 2