MLC Market Watch

On Sunday 3 May, the Government announced a range of proposals in response to the much anticipated Henry Review of taxation. If legislated, many Australians will benefit in the long term.

Summary of key proposals
The key proposals announced by the Government include:

• the minimum super guarantee (SG) contributions you can receive from an employer will increase gradually from 9% to 12% of salary, starting from 1 July 2013
• the age to which you could receive SG contributions from an employer will increase from 70 to 75 from 1 July 2013 (more…)

It’s often the case in dealing with the demands of every day life, we forget the financial year will soon be drawing to a close.

There are, however, great benefits to getting in early with your financial year-end planning.

We’ve identified four strategies to consider as the tax year draws to a close. Three of them may boost your retirement savings while paying less tax, and the fourth is a tax-effective way to purchase insurance.

And this is just the tip of the iceberg! Your financial adviser has many other strategies which may be suitable for you, all designed to improve your financial position.

So why not make this year-end a clever one?

(more…)