|
|
SA Wealth Group Monthly Newsletter
Welcome to the first edition of the new financial year, I'm sure all of you are in the process of getting your tax returns completed and hopefully are awaiting a tax refund. We recommend that you seek financial advice on your tax planning matters from a licensed (tax) financial adviser and tax agent prior to the cutoffs for lodging your tax returns. Everyone's circumstance is different and there are several strategies utilised in each persons scenario to ensure we can extract as much value as possible.
We have added in some useful articles that speak about how the market travelled for the month of July, tax strategies during this time, how to pay off your mortgage quicker, starting the investment journey late and how to keep anxiety levels down during this time.
We have Kosta Dimopoulos, our registered tax agent inhouse whom can assist with all your tax returns for PAYG clients and also BAS and Accounting/Financials as well as structures and entities to be established. Additionally Paul and Nik are licensed (tax) financial advisers to assist with the forward planning and ensure this is included in your current financial plan, if not already in place.
Lastly, we remind everyone that markets are still volatile even with more businesses reopening in Australia on a progressive basis. We expect as more economic news is announced and released this will cause the markets to react accordingly. You have been positioned in your investment and retirement portfolios based on your goals and objectives and as such in most cases are long term investors not requiring all of your capital within 6-12 months' time. Hence, if you have had a change in your circumstances or investor profile and investor tolerance to volatility please contact the office to discuss with your adviser.
For now please be safe and we wish you well until next time!
Regards
SA Wealth Group Team
|
|
|
|
|
|
|
 | | |
Share markets up, but economic concerns remain: what's going on?
Markets have been buoyed by central bank and government support for economies. However, COVID-19 remains a threat and economies are still fragile. Bob Cunneen, Senior Economist at MLC Asset Management, discusses these points in the July Economic Update.
Watch the video >>
|
 | | |
Highlights:
-
Since the initial outbreak, COVID-19 has spread to over 210 countries, and estimates indicate it could trim global economic growth by between 3.0% to 6.0% in 2020.
-
Cyclical indicators including PMIs and unemployment rates remain weak but are improving, bolstering the market’s hopes of a speedy recovery.
-
Some countries and US states reversed course in late June, reimposing social distancing measures and closing businesses to prevent a second wave of infections.
-
Market volatility declined while large raisings of debt and equity have helped to strengthen balance sheets during this period of uncertainty.
-
The Reserve Bank of Australia kept rates on hold at 0.25% at its July meeting and is prepared to scale up bond purchases if needed.
If you have any questions regarding this report or would like to discuss your portfolio, please contact me directly on 08 8268 5160
Read the full July 2020 market update report >>
|
 | | |
If you’ve lost your job, had to work reduced hours due to COVID-19, or met other eligibility criteria, you may have received government assistance like JobKeeper, extra JobSeeker, or accessed some of your super early to help cover expenses.
So how will this new source of income affect your tax return—and do you need to disclose it?
Read full article >>
|
 | | |
The power of compound returns is startling and the mathematics in favour of starting to save early in life is undeniable.
Read full article >>
|
 | | |
Paying off your mortgage early will save you money and take a financial load off your shoulders. Here are some ways to get rid of your mortgage debt faster.
Read full article >>
|
 | | |
With restrictions lifting in Australia, shops and cafes are reopening, social gatherings are permitted again and things are slowly starting to head back towards normal. And while many people are jumping at the chance to get back out there, some of us are feeling rather reluctant.
Read full article >>
|
|
|
|
|
|
