July 1, 2011 saw a change in the rules surrounding tax deductions for total and permanent disablement (TPD) insurance policies owned by a super fund. The changes ushered in by the Australian Taxation Office mean TPD premiums that come under the definition of “own occupation” are only partially tax deductible. Premiums that relate to the…
MLC Masterkey Business Super has introduced some exciting new features to its insurance product. Integral to its new and improved product is the Best Doctors medical information service. This service was established in 1989 to help people with significant illnesses connect to a worldwide network of leading specialists, so that they can get access…
Due to superannuation reforms over the last decade, many Australians these days have Life Insurance, Trauma Insurance and Total and Permanent Disability Insurance (TPD) of some sort. Do you know what you have? Did you also know though that further legislative change in 2007 can affect how much money you (if you are totally and…
This note looks at the global economy and financial markets one year on from Lehman Brothers’ demise. The key points are as follows: – The global economy is now in far better shape than was the case in the aftermath of the Lehman Brothers’ collapse a year ago. Money and credit markets have improved dramatically,…
The global and Australian sharemarkets have rallied around 40% from their March lows in anticipation of an earnings recovery. Matthew Sherwood, Perpetual’s Head of Investments Market Research evaluates the recovery and finds that although economic growth should improve in H2 2009, markets appear to be experiencing valuation fatigue and will need analysts to upgrade FY2010…
After two weeks of very strong gains, shares are due to a pause. More broadly though, this note looks at outlook for shares. The key points are as follows: – The evidence is continuing to accumulate that shares have embarked on a cyclical recovery. – Further gains are likely: shares are not expensive and an…
As a result of the slump in investment markets last year, most superannuation funds have had another financial year of negative returns, making it two in a row. This note looks at the key issues for investors. The key points are as follows: – While very disconcerting, periodic negative returns from growth assets such as…
The ATO has reminded employers that their superannuation continues even in these very difficult times. While the value of some super funds has declined recently, super is still the main way many individuals save money to provide benefits for their retirement. Generally, as an employer, you must pay super for your employees if they: –…
Each year a number of superannuation thresholds are changed to reflect movements in full-time Average Weekly Ordinary Time Earnings (AWOTE). A previous Super Update advised updated thresholds that are based on movements in December quarter AWOTE. However, the 2009 Federal Budget announced changes to superannuation contribution caps. This Super Update updates these superannuation contribution caps…
Make a personal after-tax contribution of up to $1,000 to your super account and the Government could add up to $1,500, depending on your income. Read More