If the government gets its 2018 Budget measures passed, by 2024 anyone earning between $41,000 and $200,000 will find themselves on the same marginal tax rate of 32.5 per cent. Changes to personal income tax rates, while addressing the perceived problems of so-called “bracket creep”, inevitably lead to changes in the relative attractiveness of certain investment structures.
As advisers, we know how important it is to stay on top of our client’s day-to-day cashflow.
Having a clear understanding of a client’s cashflow not only provides a snapshot of how they’re tracking against their financial goals right now, but also highlights their ability to take advantage of different strategies to grow their wealth into the future.
The federal government’s recent Budget announcement brought with it some particularly significant news for lenders and advisers. From 2035, the official retirement age will be 70 years old, meaning those born after 1965 will have to wait an extra five years to receive the aged pension.
Cut and cut hard. If the recent rhetoric from Canberra is anything to go by thismonth’s Budget sounds like it’s going to be a barrel of fun. But as the Treasurer prepares to put the mean into means testing, it’s fair to say that some important decisions need to be made in regards to the sustainability of Australia’s fiscal future.
There are a number of typical loan covenants that are applied to businesses operating in the financial planning industry, writes Daniel Lowinger
No More Practice Education Pty Ltd
Level 1, 10 Shelley Street, Sydney NSW 2000
