Budget Highlights 2017

Each year after the Federal Treasurer brings down the government’s budget (or at least its aspirations of such) for the ensuing year, we summarise highlights for the benefit of our readers1. ContinuumFP’s Budget Highlights 2017 focuses on the usual key areas of Taxation, Superannuation and Social Security (Centrelink); and this year, Housing (Affordability) merits a mention. On 9 May 2017 (at 7:30 pm), Scott Morrison (Federal Treasurer) presented the Budget under [...]

By |2017-07-31T15:06:06+10:00May 16, 2017|Market Updates|0 Comments

Life Insurance within Superannuation

Are there benefits to holding Life Insurance within Superannuation? It is widely considered that holding certain types of Life Insurance within Superannuation is acceptable practice. For some people, this is the only personal risk protection they have. The types of insurance typically allowed is restricted to policies that provide benefits that accord with the purpose of the superannuation system. The most common life insurance carried within superannuation, are 'term life'; TPD; and income protection [...]

By |2021-02-26T09:31:49+10:00November 21, 2014|Risk Insurance Strategies|0 Comments

Capping Superannuation funding

Why is capping superannuation funding in question? Governments around the world are facing debt concerns that threaten their ability to provide welfare, health, education and other services. In this scenario they are looking for ways to reduce their outgoings - and protect their revenue base. In Australia, one method the government is looking to implement to provide such protection is by capping superannuation funding. This will achieve their goal in two [...]

By |2020-08-28T11:52:39+10:00September 19, 2014|Retirement Planning Strategies|0 Comments

Budget Highlights 2014

2014 Australian Federal Budget Update Last night Federal Treasurer Joe Hockey announced a Federal Budget for 2014/15  that asks all Australians to bear the burden, as the Government attempts to bring the Budget back into surplus and to reduce the national debt. As expected, the budget includes a number of spending cuts and only two major spending initiatives – the introduction of an $11.6 billion infrastructure growth package and the [...]

By |2018-01-03T22:00:21+10:00May 14, 2014|Market Updates|0 Comments

Excess nonconcessional contributions refundable

Excess nonconcessional contributions - what are they? Excess nonconcessional contributions are undeducted amounts contributed to a superannuation account. (Undeducted simply means that these contributions are being made from either tax paid, or from tax-free funds.) Superannuation nonconcessional contribution 'caps' have been in place for some time now and for the 2015 financial year, were increased applying the indexation measure from an earlier change to legislation in the superannuation environment. Update [...]

By |2020-08-05T14:58:03+10:00May 14, 2014|Superannuation Strategies|0 Comments
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