News

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

Cybercrime Surges: How to Protect your Business

Written by Andrew O'Donnell, Director - Edney Ryan Legal

During the pandemic, businesses, schools and families turned to the internet to communicate and access services required for daily life. Unfortunately, cybercriminals have used this opportunity, with the Australian Cyber Security Centre (ACSC) receiving over 67,500 cybercrime reports last financial year, a significant increase on the prior year. The increased frequency of crimes was also associated with increased complexity and... Read more

Fixed vs. Variable. Is it Time to Reassess?

Written by Tricia Williams, Manager - Edney Ryan Mortgage & Finance

Following years of ultra-low interest rates, discussion is rising amongst economists about a sooner-than-expected interest rate rise. The Reserve Bank of Australia has indicated that if economic recovery continues faster than expected, then the timing of interest rate rises would be brought forward from the RBA’s previous suggestion of 2024. Which raises the question, for the six million home loans... Read more

Additional Covid-19 Support Measures for 2022

Written by Evelyn Christian, Director - Edney Ryan Chartered Accountants

The NSW Government recently announced additional programs to support businesses following the Omicron wave. The following measures have been introduced/expanded. The 2022 Small Business Support Program For businesses with a turnover of $75,000 – $50 million that experienced a minimum 40% decline in turnover due to the impacts of Covid in January 2022 (compared to January 2021 or 2020) and... 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

New Company Directors ID Requirement

Written by Matthew Stewart, Director - Edney Ryan Chartered Accountants

All company directors now need to verify their identity with a unique identification number, in order to help prevent the use of false or fraudulent director identities. Company directors must apply for their own director ID, only once, which will be their unique identifier forever. Existing directors have until 30 November 2022 to apply. Directors appointed before 4 April 2022... Read more

Foreign Person Surcharge on Residential Property Purchases

Written by Andrew O'Donnell, Director - Edney Ryan Legal

If you are classified as a foreign person and purchase residential property in NSW, you will have to pay an eight percent surcharge on the value of the property. This is in addition to any applicable stamp duty. It is important to note that you are generally classified as a foreign person, unless: You are an Australian citizen, or You... Read more

Accounting Update for a New Financial Year

Written by Stephen Ryan, Director - Edney Ryan Chartered Accountants

As the financial year draws to a close, there are some changes worth highlighting which are likely relevant for a number of clients. Compulsory Superannuation Rate Increases The superannuation guarantee rate will increase to 10% from July 1, 2021 and rise by 0.5 per cent per year thereafter until it reaches 12 per cent by 2025. 2021-22: 10% 2022-23: 10.5%... 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

Know Your Property – Free CoreLogic Report

Written by Tricia Williams, Manager - Edney Ryan Mortgage & Finance

Property prices remain strong with the median price of a house in Sydney now $1.186 million, while the median unit price is $782,000, according to CoreLogic. Prices increased during May on the back of earlier growth this year. We are offering Edney Ryan Group clients a free Property Profile Report. Produced by CoreLogic, the report provides a comprehensive view of... Read more