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30 Mar 2017

Estate Planning: Enduring Power of Attorney

Do you have a Family Succession Strategy?

If not why not?

An enduring power of attorney can help tremendously with family succession but not if you appoint the wrong person.

The 2016 Victorian Supreme Court case of Ash v Ash [2016] VSC 577 gives an insight into how conflicts of interest can be disastrous if the person you appoint is not completely trustworthy and does not exercise the power when needed.

Click to read.

 

24 Mar 2017

Friday Tidbit: Australia Street

 

This is very good, only 4 minutes long but a clever way of delivering ABS census results.

Click to watch.

 

20 Mar 2017

Superannuation Reform: 30 June 2017 deadline

Attached is a flyer on the five changes that everyone must know staring 1st July 2017.

Remember, time is fast running out for individuals (if under age 65) to still make a $180,000 non-concessional contribution into superannuation or trigger the 3 year bring forward provision and contribute up to the maximum $540,000 into superannuation this financial year.

WARNING, these comments do not constitute Personal Advice and conditions apply.

 

16 Mar 2017

LEGO: Not just kids stuff

Quite remarkable, don’t think there is an adult in Australia (possibly the World) that has either not purchased or not been around a child that has played with LEGO.

The business is a fascinating story about why micro management does not work and how important it is to empower employees in order to grow the business.

Click here for the video.

 

13 Mar 2017

OECD: Economic Survey of Australia

The OECD (Organisation for Economic Co-operation and Development) has released its 2017 report on Australia with the following key messages.

They have found that Australia needs a better climate for business to raise productivity growth and that we have a widening income gap inequality which needs to be addressed.

Attached is a summary of the full 139 page report that you can find by clicking this link.

 

8 Mar 2017

Getting Rich: Seven cures for a lean purse

In 1926 George S Clason first published a famous series of pamphlets on thrift and financial success using parables from ancient Babylonian clay tablets.

These pamphlets were latter incorporated into his book, The Richest Man in Babylon and the following seven cures for a lean purse are from that book-

  1.  Start thy purse to fattening
  2.  Control thy expenditures
  3.  Make thy gold multiply
  4.  Guard thy treasures from loss
  5.  Make of thy dwelling a profitable investment
  6.  Insure a future income
  7.  Increase thy ability to earn

Attached is a contemporary version on the steps to getting rich which makes you stop and think.

Other than the phrasing, has anything really changed over the past 8,000 years when it comes to the core principles for accumulating wealth!

 

2 Mar 2017

Superannuation Reform: New rules on Non-Concessional Contributions

From 1 July 2017 the non-concessional (after tax) contribution limit reduces from $180,000 year to $100,000 per financial year and subsequently the 3 year bring forward provision reduces from $540,000 to $300,000.

That means that time is fast running out for individuals (if under age 65) to still make a $180,000 non-concessional contribution into superannuation or trigger the 3 year bring forward provision and contribute up to the maximum $540,000 into superannuation this financial year.

WARNING, these comments do not constitute Personal Advice and conditions apply.

 

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