Professionals

By Shane Oliver, Head of Investment Strategy & Chief Economist from Oliver’s Insights, AMP Capital, Edition 28 2016 Key points The mostly gloomy debate around the Australian economy often gives the impression we are in a constant state of crisis. But economic growth is pretty good, the economy has rebalanced without the (“inevitable”) recession, the worst of the mining bust... Read more

Despite an increasing number of women participating in the workforce, there are still significant differences between men and women in terms of superannuation balances at retirement – the so called gender retirement savings gap. As superannuation contributions are largely linked to employment or business income, those who have lower income, work part-time, or have time out of the workforce, will... Read more

Stamp duty has been a significant barrier to business owners wanting to restructure their business assets. There were many instances where the costs of transferring from one business entity into another (e.g. from a sole trader or partnership to a trust or company structure) were prohibitive because of the amount of stamp duty that was involved. From 1 July eligible... Read more

Starting a new business, or expanding an existing one usually requires significant funds. Securing a bank loan to enable cash flow is one option, however in our experience the banks are so risk averse that their requirements for real estate security to cover their exposure can make this option unpalatable. Consequently business owners often fund start-ups using their personal financial... Read more

New rules will apply to sellers of certain taxable Australian property under contracts entered into from 1 July 2016. The new legislation imposes a 10% non-final withholding obligation on the purchaser of certain taxable Australian assets when they believe the vendor is a foreign resident. Purchasers will be required to pay 10% of the purchase price to the ATO which... Read more

Until recently people with a HELP loan who moved overseas did not have to repay their debt as long as they remained offshore residents. From 1 January 2016 no matter where you live, the requirements for repayment of a HELP debt are the same. All people with a HELP debt who exit Australia with the intention to work overseas for... Read more

The self-managed superannuation fund (SMSF) sector has experienced extraordinary growth over the last 15 years now accounting for almost $600 billion of superannuation, overtaking the retail superannuation sector now worth about $550 billion. Most individuals cite the desire for investment control and reduction of fees as their driver for establishing an SMSF. There is no question that a SMSF offers... Read more

Many Australians living overseas experience some difficulty when trying to arrange finance for a property purchase. Though there are some lenders who will refuse loans for expats as standard policy, many lenders will lend – albeit with more stringent requirements than for an Australian resident. Some lenders will consider overseas net income when calculating your borrowing capacity, though they typically... Read more

Under ordinary circumstances the sale of a property that you purchased after 20 September 1985 would attract Capital Gains Tax (CGT). Any gain made on the sale is included in your assessable income in that financial year.  The gain from the sale of a CGT asset can be reduced by 50% when you have held the asset for more than... Read more

There is some speculation that the Turnbull government will consider some tax reform for superannuation. Whilst we wait to see what super changes actually occur in the coming months or years, it is important to remain confident in the tax advantages of investing your wealth in the superannuation environment. Helping our clients plan for the future every day, we are... Read more