Since our most recent newsletter in February this year, we have made the big move into our new premises at 82 Smith Street Warragul (old Clark First National premises) and as part of this move we have welcomed a few more local people into our team.
Firstly, Stuart Kendall joined the Business & Tax team in March as an accountant. Stuart has worked in the accounting industry for the past few years and is currently studying to become a CPA. Stuart is a local, and plays football and cricket on the weekends, and is getting married later in the year.
If you have phoned or called into our office recently, you are more than likely to have met our new receptionist. Micaela is now in charge of our front of house at Warragul and will be working closely with our existing admin team to bring the best service to you, our clients. So don't worry, Mietta, Chelsea, Stacey and Danielle haven't gone anywhere, they are all still part of the Pursuit team!
Earlier in the year two of our existing Business and Tax team members decided to move closer to Melbourne but we have been fortunate enough to find some great people to fill our team, and in the last few weeks we have welcomed Jane Jinnette, Emily Hill and Nicole Gowans into our Business & Tax team. Jane is working with us a couple of days a week as a graduate accountant, while juggling family duties and studying her CPA. Emily also joins the team as a graduate accountant, and will commence her post graduate study once she returns from an extended overseas holiday later this year. Nicole joins the team as an intermediate accountant, and has recently returned home to be closer to her family after spending the past few years working in Western Australia.
The Australian Tax Office is currently experiencing some major disruptions in the wake of the new financial year. In years gone by, we have been able to access much of your information, such as group certificate, interest received, dividends and private health insurance fund details. Unfortunately, these reports are not available from the Australian Taxation Office just yet, and they have no confirmed date on when they will be!
What does this mean for you?
If you are meeting with one of our accountants in the next few weeks, please remember to bring details of the following:
- PAYG Payment Summaries (group Certificate)
- Interest on bank Accounts
- Record of payments received form the government
- Dividend details
- Details of any tax deductions
- Log book
- Private Health Insurance Fund statements
With access to so much information these days via the internet, consumers often spend numerous hours making decisions in regards to everyday purchases to ensure that they get the "best" service or product at the "best price". Sometimes it's for the sake of saving just a few dollars. However, when it comes to one of the most important financial decisions we will make in our lifetime, a home loan, we will often do the research in the beginning but then stick with the same product for the term of the loan. Most will argue that it is too hard, too time consuming or just too complicated to conduct a review every now and then to make sure that the loan we chose many years ago still remains the most appropriate today.
We all want to pay off our mortgage sooner and in turn save thousands of dollars. The secret is to ensure that we have the right loan with the right features and benefits to enable us to do so. Some of the things to consider:
- Is my interest rate competitive?
- Are the right discounts being applied based on my overall borrowings?
- Does my loan enable me to pay less interest by offsetting any savings that I may have?
- Can I make extra payments without penalties?
- Am I being charged unnecessary fees across my overall banking?
The good news is that we can take care of the "too hard", "too time consuming" and "too complicated" for you and it can be as simple as you providing us with a copy of your most recent home loan statement/s and some basic information. Our Mortgage Broker will then use this information to ensure that the loan that you chose some time ago does in fact remain the most appropriate for you today. If you would like to take advantage of this offer please call our office today.
Whether we like it or not we are all susceptible to ill health or accidents. It would be selfish of us to think "it won't happen to me" as I am sure that we all know good people who have suffered an unfortunate and often heartbreaking illness. As professional advisers we can often be guilty of taking the softly, softly approach when it comes to recommending personal insurance (life, Disability and Income Protection) cover. That is because people may see us as "salesmen". However, it is extremely important that you are aware of the fact that here at Pursuit Advisers we can take care of your entire Personal Insurance needs. In fact it is not only our aim but our obligation to ensure that all of our clients are adequately covered to prevent financial hardship if something bad was to happen.
As a client of Pursuit Advisers we encourage you to book a complimentary appointment with one of our Financial Advisers to discuss your personal or family needs. We can also take care of all your business requirements in terms of Key Man cover to ensure that your business will continue in the event of losing a Business Partner or key personnel.
Some of us will assume that it is too expensive or that it is too difficult to get based on having to get medicals, complete application forms etc., however in most instances it is not. For example medicals are typically only required when amounts applied for are in the millions of dollars. Regardless, sitting through a complimentary appointment to understand what is actually required as opposed to what we "think" is required is a small price to pay for the peace of mind that you or your family would be looked after. If you already have cover, that is great, however things do change and polices do get better so we would encourage you to have your cover reviewed to ensure that your premiums are still competitive and that your cover is still adequate. To book an appointment to see one of our Advisers please call our office today, it may just be the most important phone call you ever make.
You have heard it shouted from the rooftops – SuperStream has arrived – and if you are employed in a business with over 20 employees – compliance is a must!
Clients of Pursuit Advisers who use our Self-Managed Superannuation Fund (SMSF) service will need to notify their employer their SMSF's Electronic Service Address (ESA). Even if you are employed in a business with fewer than 20 employees you should provide this to your employer now.
The ESA for all Pursuit Advisers SMSF clients is – smsfdataflow
While the requirement to comply with SuperStream sit's squarely with the employer – it is in your best interests get them using your ESA immediately – as it will allow us to compare the amount your employer is required to pay against what they actually deposited into your account.
If you are invested in the share market then you will be very aware that it has been a volatile environment to invest in over the past few months.
After a stellar start to the year the Australian All Ordinaries Index had risen by approximately 10% from January through until April 2015. However this was followed by a negative performance in May, June and early July that at one stage saw that entire 10% return reduced to 0%. During these months there were a few things that caused the slump in prices; fear of interest rises in the United States was the first trigger, followed by the Greece debt default, and then lower than expected financial indication numbers from China. All of these things resulted in a large amount of uncertainty and a very volatile share market.
In mid-late July the issues in Greece were resolved and although it is a long term slog for the Greek economy before it becomes financially independent and stable, it removed the uncertainty surrounding the European Union and allowed the share markets around the world to restore some value as peace of mind replaced the uncertain thoughts of many investors. During this time the Australian All Ordinaries again rose and at the end of July the return for the 7 months ended 31 July was 5.45% - a very respectable return for the 7 month period it represents, especially when compared against cash and term deposit returns which are between 1-2% for the same 7 month period.
If you are someone who is unsure about share market investment or you are a share market investor who could benefit from some more education in this area then please contact our office. Our Financial Planners are well versed in the market and can assist you in all areas of investment choice.