Added May 18, 2012 – 1:05 pm
Share market turns on its head as euro worries rattle globe
Herald Sun 17.5.2012
Super funds have taken a battering in the past two weeks, with almost all gains for this financial year swept away in a sea of red ink. Concerns about Greece leaving the eurozone has sent stock markets from Frankfurt to Wall St into tailspin, and the uncertainty could last for months.
The Australian market has fallen almost 6 per cent this month, wiping $80 billion off the value of Australia’s top companies. Fearing a rerun of the past two years, when early gains were extinguished in a long bout of volatility, investors are fleeing. Read More »
Added May 3, 2012 – 9:49 am
The Reserve Bank slashed official interest rates by 0.5 per cent in a surprise move yesterday, saving $96 a month on a typical $300,000 mortgage – but only if the reluctant big banks pass on the cut in full.
Added May 1, 2012 – 10:00 am
Directors to be personally liable for unpaid super
The government has released draft legislation which proposes changes to the company director penalty regime in the tax law. The main aspects of the proposed amendments involve:-
- Extending the director penalty regime to make directors personally liable for their company’s unpaid superannuation guarantee amounts (the compulsory 9%)
- Ensuring that directors cannot discharge their director penalties by placing their company into liquidation when unpaid PAYG withholding or SGC remains unpaid
The government intends to introduce the amendments into Parliament in the next few weeks.
Added May 1, 2012 – 10:00 am
Business owners need to pay themselves a salary – for their own good and for the good of their business. The value of a business can only be assessed once a wage is included – a key factor before any business is sold.
“An independent person working the same job would be paid a salary, so why would you not pay the business owner?”
Building a salary into a business also allows the owner to compare the business performance against prior year results and competitor’s results. This allows business owners to assess the value of their business.
Added May 1, 2012 – 10:00 am
From Herald Sun – 26/03/12
Seven things to ask before retirement
Deciding when to retire can be one of the scariest decisions you will make. Get the timing wrong and it can affect the way you live for decades. It used to be simple. Most would aim for 55, 60 or 65 years of age, and their superannuation would give them some money in retirement which could be topped up by a generous age pension.
Those were the days. Today the age pension has been watered down and superannuation-guarantee contributions are not enough on their own to fund a decent retirement.
Over the next 10 years, 1.4 million Australians will be faced with that critical ‘when to retire’ decision. But you can reduce the risks of pulling the retirement trigger by asking yourself these seven important questions.
Read More »