Latest news and advice tips | |
TechConnect Update
Jenneke Mills runs through some technical hot topics including:
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Legislation introduced and passed impacting first home savers, SMSFs and small business
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Proposed changes for pensioners and allowees to promote employment, and
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Significant increase in aged care daily fees for some residents from October.
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Pay down mortgage or boost super – which is best?
Tina Leung explains why waiting until the home loan is paid off before making additional voluntary super contributions may not be the optimal approach. | |
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Ways to make insurance more affordable
Richard Edwards explains the many ways you can reduce the hip-pocket impact of personal insurances for clients who are facing cost-of-living pressures. | | | | |
Can super provide a lifeline for mortgage relief?
Stuart Sheary looks at the super conditions of release available to clients facing mortgage stress, giving them a temporary lifeline. | | |
Government proposes permanent changes to
Work Bonus
The Government has proposed to implement measures to incentivise older Australians and those receiving certain pensions and allowances, to engage in employment. | |
Making FHSSS more flexible – update
While legislation extending the timeframe an applicant has to release super under the First Home Super Save Scheme (FHSSS) to 90 days has received Royal Assent, the start date is yet to be confirmed.
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Changes to non-arm’s length expenses
Legislation has been introduced supporting amendments to the non-arm’s length expenses rule applying to self-managed super funds and small APRA funds. | |
Budget measures for small and medium businesses
Legislation has been introduced to increase the instant asset write-off threshold and additional deductions to support energy efficiency for small to medium businesses. | | | | |
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Ethics in the hot seat:
Decisions, derisions
and dilemmas
Did you miss Troy Smith's adviser webinar where participants got to assess whether a breach of the Code of Ethics has occurred and determine the appropriate penalty?
View recording
Access webinar slides | | | | |
Assessment of account based pensions for Commonwealth Seniors Health Card
My clients are a husband (aged 75) and wife (aged 59). The husband started an account based pension (ABP) before 1 January 2015 and has held the Commonwealth Seniors Health Card (CSHC) since then. Recently, the wife permanently retired and commenced her own ABP. How are the ABPs assessed for the CSHC? | | |
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This communication is prepared by Actuate Alliance Services Pty (ABN 40 083 233 925, AFSL 240959), a related entity of MLC Wealth Limited (ABN 97 071 514 264). This is for financial adviser use only – it is not to be distributed to clients. The communication has been prepared to provide financial advisers with technical resources, support and knowledge. The information in this document is current as at the date of publication and reflects our understanding of existing legislation, proposed legislation, rulings etc as at the date of issue, and may subject to change. In some cases, the information has been provided to us by third parties. Whilst care has been taken in preparing this document, no liability is accepted for any errors or omissions in this document, and loss or liability arising from any reliance on this document. Any general tax information provided in this publication is intended as a guide only and is based on our general understanding of taxation laws. It is not intended to be a substitute for specialised taxation advice or an assessment of your liabilities, obligations or claim entitlements that arise, or could arise, under taxation law, and we therefore recommend your client consult with a registered tax agent.
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