At Complete Financial Balance, we often come across clients who come to us with an existing income protection policy which doesn’t reflect their individual needs and employment situation. [Read more…]
Archives for May 2016
Cardiovascular disease is the biggest killer in Australia, yet it seems many of us are unaware we are at significant risk. New research from the Heart Foundation and the National Health and Medical Research Council has found that around 1 in 5 of the population aged between 45 and 74, or 1.4 million Australians, are at a high risk of heart attack or stroke within the next five years, yet almost 1 million of them are not receiving the recommended mix of medications and treatment1. [Read more…]
Image source: “Parliament House Canberra Dusk Panorama” by JJ Harrison
On Tuesday, the Treasurer, the Hon Scott Morrison, handed down his first Federal Budget, stating that this was not just a budget, but an economic plan for the future to support innovation and growth.
One of the key components of his budget is a comprehensive bundle of changes to superannuation which will target super tax concessions with the aim of creating a ‘more sustainable super system’. Continuing its pre-budget discussion, superannuation is to be legislatively defined as a vehicle “to provide income in retirement to substitute or supplement the Age Pension”. We believe that this is a watered-down version of its previously understood purpose, which was to provide for the retirement and death of its members.
Given the ongoing volatility of governmental policies on superannuation as well as the further limitations that these announcements bring, we are increasingly considering alternative savings vehicles for our clients.
So how will the 2016 Federal Budget affect you and your superannuation in the future? [Read more…]