It’s hard to believe the beginning of the new financial year also marked the milestone of 10 years since founding Wealth Simplicity (or MORE Wealth Management, as it was previously known)! For some, the working relationship stretches back even further. To everyone, it’s been a real privilege to be part of your lives, helping with financial decisions… [Read More]
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Reviewing your SMSF Investment Strategy
A Self-Managed Superannuation Fund (SMSF) offers control and flexibility for retirement savings, and a key component of managing an SMSF is having a clear investment strategy. The ATO requires all SMSFs to have a documented investment strategy to ensure the fund operates within the law, avoiding penalties and maintaining its compliant status. An SMSF investment… [Read More]
Superannuation Contribution Changes from 1 July 2024: How This Impacts You
With the new financial year upon us, significant changes to superannuation contributions occurred from 1 July 2024. These updates will impact how much you can contribute to your superannuation, an essential vehicle for retirement savings. Concessional Contribution Cap Increase One of the fundamental changes for FY25 is the increase in the concessional contribution cap. This… [Read More]
Dust Settles on Tax Cuts: What’s in happening from 1 July?
With the new financial well and truly here, the Australian government has made significant chances to the tax cuts that have taken effect form 1 July 2024. Here’s the breakdown of the changes and how this may impact you. What’s Changing? The ‘Stage 3 tax cuts’ scheduled for implementation on 1 July 2024 have been… [Read More]
Partial Capital Gains Tax exemptions for Principal Place of Residence May Apply to You
Main residence for part of ownership period Only a partial main residence exemption is available for a dwelling if it was the taxpayer’s main residence for only part of the ownership period. Generally, the full exemption is proportionately reduced by reference to the period for which the dwelling was not the taxpayer’s main residence (non-main… [Read More]
September Quarter Update – Good News is Bad News!
Despite relatively resilient economic data, falling inflation and major central banks either pausing rate hikes or signaling that they are close to the rate peak, financial markets have seen broad-based losses over the quarter. This was driven by large bond yield increases, which impacted valuations of equities and other rate-sensitive asset classes. This was a… [Read More]