Edney Ryan Wealth Management

Superannuation Changes

Written by Kate O'Brien, Managing Director - Edney Ryan Wealth Management

1. Super Guarantee Rate Increase From 1 July 2023 the new super guarantee (SG) rate is 11%, increased from 10.5% last financial year. Business owners will need to ensure that payroll and accounting systems are updated. The ATO’s SG calculator helps employers work out the correct amount of super payable to their staff. Employees can utilise the ATO’s super estimator... Read more

Federal Budget Commentary 2023/2024

Written by Stephen Ryan, Director - Edney Ryan Chartered Accountants

Last night the Treasurer handed down his second budget in seven months. My assessment of his first budget in October ’22 was “solid, nothing brilliant, but sound and steady”. At that time, the forecast included a 22/23 deficit and increasing unemployment. Albeit with the benefit of hindsight it is hard to comprehend how Treasury and the Reserve Bank could be... Read more

Upcoming Superannuation Changes

Written by Kate O'Brien, Managing Director - Edney Ryan Wealth Management

There are a number of superannuation changes that will take effect from 1 July, 2022. Superannuation Guarantee: Increase in super guarantee percentage – Super Guarantee (SG) increases from 10% to 10.5%. It will continue rising 0.5% each year until it reaches its final rate of 12% on 1 July 2025. Removal of the $450 monthly superannuation guarantee threshold – The... Read more

An Introduction to Sustainable Investing

Written by Kate O'Brien, Managing Director - Edney Ryan Wealth Management

Sustainable investing has become a major focus for investors globally, with a third of all investable assets predicted to be managed with this approach by 2025. Environmental, Social & Governance Otherwise known as ESG investing, sustainable investing is the practice of considering environmental policies, social implications and corporate governance in addition to the traditional financial and operational metrics, when making... Read more

2021 Federal Budget Superannuation Legislation Passed

Written by Kate O'Brien, Managing Director - Edney Ryan Wealth Management

Legislation has finally been passed to give effect to the key superannuation changes proposed in the 2021 Federal Budget. The legislated changes include: Removal of the work-test requirement for non-concessional contributions and salary sacrifice contributions, for individuals aged between 67 and 75. Extending eligibility to make non-concessional contributions under the bring-forward rule to individuals aged under 75 at the beginning... Read more

Superannuation Update

Written by Kate O'Brien, Director - Edney Ryan Wealth Management

Superannuation Pension – Minimum Drawdown Relief Extended The temporary 50% reduction to the minimum income drawdown from superannuation pensions has been extended until 30 June 2022. This measure helps to minimise the need to sell down assets in depressed markets, and has been extended due to the impact of the Covid-19 crisis on some retirees’ superannuation account balances. For the... Read more

Increases to Super Contribution Caps

Written by Kate O'Brien, Director - Edney Ryan Wealth Management

From 1 July 2021, superannuation contribution caps will increase due to indexation – a positive change that allows for greater superannuation amounts. The concessional contribution cap is set to increase from $25,000 p.a. to $27,500 p.a. The standard non-concessional contribution cap is calculated as four times the concessional contributions cap, so is set to increase from $100,000 to $110,000. The... Read more

In this edition of Oliver’s Insights, Shane Oliver looks at the projections for the coming budget deficit and the impact on Australia’s net public debt due to coronavirus, and whether it is affordable. Key Points Australia’s federal budget deficit is expected to peak at around $200bn in 2020-21, or around 10% of GDP which will be the highest since the end... Read more

In a time when blanket coverage of coronavirus and its impact on the economy can lead to a lot of confusion, Shane Oliver this week discusses the good news, the bad news, and what it all means for investors. Key Points After a strong rally, in the short-term shares are vulnerable to bleak economic and earnings news. However, positive news... Read more

In Shane Oliver’s latest article he discusses quantitative easing, the role it is playing in the coronavirus economic rescue globally, and the implications for investors. Key Points Central bank support to ensure the flow of money and credit through economies is an essential part of the global and Australian coronavirus economic rescue. This has increasingly involved quantitative easing which entails... Read more