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As it Happens
With the Federal Election now confirmed for July 2 2016, we can all expect a pretty intense battle starting today. But as elections can sometimes destabilise markets and overall sentiment, is this a good or a bad thing for your investments, superannuation or pension fund? In this article, AMPs Shane Oliver takes a look back at previous election cycles with some interesting results. Read more here
For more information, contact Rick Maggi on 9382 8885 or rickmaggi@westmount.com.au.
As usual, the pre-Budget fears and scaremongering turned out to be largely unwarranted. With a significant focus on superannuation, last night's Federal Budget was in many ways a relief to the majority of Australians with superannuation and pensions. In fact, there were a number of positive proposals put forward like the removal not the work test and the reintroduction of tax deductible personal super contributions (up to $25,000). 2016-2017 Federal Budget Summary
For more information, contact Rick Maggi on 9382 8885 or rickmaggi@westmount.com.au.
For the first time in 12 months, the Reserve Bank of Australia (RBA) has announced it cut the cash rate by 25 basis points to 1.75 per cent.
The RBA's decision to cut the official interest rate comes after a surprisingly low inflation figure of 1.3 per cent year-on-year was released last Wednesday.
The ASX futures market has been pricing in a 50/50 chance of a rate cut to 1.75 per cent versus 'no change' since the release of the inflation figures.
With a target inflation rate of between 2-3 per cent, concerns about a lack of growth in the Australian economy spurred by the low Consumer Price Index readings appear to have forced the RBA's hand.
Last week's low inflation numbers had made a May rate cut likely, despite the fact that the federal budget is on the same day.
For more information, contact Rick Maggi on 9382 8885 or rickmaggi@westmount.com.au.
If you want to repay your mortgage quickly and still have easy access to your additional repayments, an offset account may be worth looking into. Read more here
For more information, contact Rick Maggi at Westmount Financial on 9382 8885.
Rick Maggi Westmount Financial Clear Focus. Better Solutions.
