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3 April 2025
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This 2018 Federal Budget was framed against improving revenues from company and personal taxes giving a smaller Budget deficit and the promise of surpluses beginning earlier than expected.The changes to superannuation are minimal, with announcements to protect smaller balances and an opt-in for life insurance in super.Most attention will focus on the personal tax cuts for low and middle-income earners starting on 1 July 2018. This is intended to boost consumer spending at a time of low wages growth, as well as recognising this is a pre-election Budget. There is funding for infrastructure and business to promote growth as GDP rose only 0.4% in the December 2017 quarter. The dependence for growth on personal consumption was demonstrated by the strongest contributions coming from household and government consumption, offsetting falls in private non-dwelling construction and weaker exports.However, as during the mining boom, the risk is the coming budget improvements will not be used to repay debt and bolster the economy for a future slowdown in global growth or rising domestic unemployment. On 27 April 2018, The Australian Financial Review published a poll which showed 32% wanted improved revenues spent on retiring government debt versus 27% asking for personal tax cuts and only 10% wanted a company tax cut.Personal taxThe personal income tax cuts will be spread over 10 years with a modest start, and regardless of who wins the next election, they are likely to be sustained by both parties looking to voter favour. Low to middle-income workers will receive maximum initial tax relief, but the ‘aspirational’ class on higher incomes, including the top marginal tax rate, are also targetted but for a later start.Retirement incomesThe Budget includes two useful retirement income policies, with a more open access to the Pension Loans Scheme, and encouragement for innovative income steam products.The highlights of Budget 2018 are linked in the article below and on our website, including a state-by-state look at the infrastructure spending to promote growth and jobs and reduce congestion.Graham Hand, Managing Editor
Edition 252 | 8 May 2018 | Editorial | Newsletter
This time last year, I highlighted 16 ASX stocks that investors could own indefinitely. One year on, I look at whether there should be any changes to the list of stocks as well as which companies are worth buying now.
The ABS recently released figures which are used to determine key superannuation rates and thresholds that will apply from 1 July 2025. This outlines the rates and thresholds that are changing and those that aren’t.
With the arrival of the new year, the first members of ‘Generation X’ turned 60, marking the start of the MTV generation’s collective journey towards retirement. Are Gen Xers and our retirement system ready for the transition?
The intergenerational wealth transfer, largely driven by a housing boom, exacerbates economic inequality, stifles productivity, and impedes social mobility. Solutions lie in addressing the housing problem, not taxing wealth.
Warren Buffett's annual shareholder letter has been fixture for avid investors for decades. In his latest letter, Buffett is reticent on many key topics, but his actions rather than words are sending clear signals to investors.
With an election due by 17 May, we are effectively in campaign mode with the Government announcing numerous spending promises since January and the Coalition often matching them. Here's what the election means for investors.
Larry Fink is one of the smartest people in the finance industry. In his latest shareholder letter, the Blackrock CEO outlines his quest to become the biggest player in private assets and upend investor portfolios.
Our economy grew by a nominal rate of 7% per annum from 2017 to 2024, but it benefited from the largesse of fiscal and monetary policies, both of which are now fading. We need a new, credible economic growth agenda.
If the recent polls are anything to go by, we are headed for a hung parliament at the upcoming federal election. So more than ever, Australians need to give serious consideration to their preference votes.
It’s common for people as they age to seek more help in running their SMSF if their capacity declines. An alternate director may be a great solution for someone just planning for short-term help in the meantime.
In this interview, Matthew Haupt from Wilson Asset Management discusses his outloook for the ASX, sectors such as REITs that he likes, and his firm's launch of a new income-oriented listed investment company.
Life expectancy isn't just a number - it's a concept that changes with survival rates over time. This article breaks down how age, survival, and societal factors shape our understanding of life expectancy, especially post-Covid.
Gold mining stocks outperformed in 2024 and are expected to do well in 2025. At this point in the rally, it's worth considering what has driven gold prices higher and why miners could still have some catching up to do.