Financial Planning 10.05.23 - The Budget

Financial Planning 10.05.23 - The Budget

Treasurer Jim Chalmers announced the much awaited and debated federal budget last night.

The first Budget surplus since 2007-08 was delivered on higher tax receipts from resource companies and the strong labour market. With inflation still front of mind, the spending initiatives were muted and focused on lower income households. On one hand, the Government needs to assist with cost-of-living difficulties, whilst not adding to inflation, a tough balancing act.

This week we’ll explore some of the more pertinent topics addressed last night. As always, we invite your feedback on what you’d like to read about and topics that you’d most like us to cover.

Financial Planning 03.05.23 - Estate Planning - Superannuation

Financial Planning 03.05.23 - Estate Planning - Superannuation

When you pass away, your assets, other than Superannuation, are generally distributed in accordance with your Will. Superannuation is not automatically included as an asset in your deceased estate and may not be accounted for by your Will.

Therefore, making a death benefit nomination allows you to direct your Superannuation to your preferred dependant/s and/or Legal Personal Representative (your Estate). If there is no nomination, your Superannuation fund will use their own trustee/s discretion to determine whom and in what proportion to distribute your super benefits – this may not be in accordance with your wishes.

Fixed Income

THE MORRISSEY EXCHANGE, SHAW AND PARTNERS: Podcast #44: Fixed Income

In today’s pod we delve into our third component of the asset allocation series; cash and fixed interest.

Certainly not the sexiest of the four broad asset classes, but probably the one that provides investors with the greatest comfort; whether rightly or wrongly.

This week we’re joined by Cam Duncan, Co-Head of the Shaw and Partners Income strategies team. You may recall Cam from our discussion in November 2021 where we were discussing the pending interest rate move and inflation; which played out as discussed.

Today we discuss the asset class itself and its role in a well-diversified portfolio, different types of debt, global opportunities, the specific features of hybrids and the US Debt ceiling.

Financial Planning 26.04.23 - Estate Planning

Financial Planning 26.04.23 - Estate Planning

“I want to give my kids just enough so that they would feel that they could do anything, but not so much that they would feel like doing nothing.” – Warren Buffet

As we enter our ‘Golden years’, we may start to reflect on our life and what kind of legacy we want to leave for our loved ones and future generations.

Estate planning provides the opportunity to leave behind a lasting impression. Throughout the planning process, existential questions may well be discovered that had not been considered.

In the next few FP weeklies, we will explore this topic and share a few tips worth considering to ensure your loved ones benefit from your lifelong efforts as much as possible.

MG Alpha Model Portfolio Update March 2023

Off the mark

The MG Alpha Return portfolio fell 10.34%, whilst the ASX200 rose 1.98% in the March quarter. The underperformance can be attributed to three stocks; Jervois Global (JRV), IODM (IOD) and Whitehaven Coal (WHC). For JRV and WHC falling commodity prices caused the large falls, and for IOD there was a small capital raise, along with profit taking. Markets began the year strongly, before retreating on concerns for the banking sector following the collapse of Silicone Valley Bank and Credit Suisse. The Dow Jones rose 0.4%, NASDAQ 16.8% and in the UK, the FTSE gained 2.4%. Interest rate hikes were paused in April as investors now ponder if the next move in rates is down. 

Financial Planning 19.04.23 - Stage three Tax Cuts

Financial Planning 19.04.23 - Stage three Tax Cuts

Back in 2018/19 the Federal government passed an income tax package, which included numerous tax cuts that were designed to be introduced in stages over several years. The “Stage three” tax cuts are planned to take effect from 1st July 2024. We think it’s a good time to recap what this entails given the Federal Budget is also due to be released on the 9th May 2023.

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