Please note the Donegan’s offices will be closed from:
12:30pm Tuesday 22nd December 2020 through to 8:30am Monday 4th January 2021.

We look forward to catching up with you in the New Year!

In accordance with the latest advice issued from state and federal authorities regarding COVID-19, and in anticipation of further measures, the majority of the Donegan’s Edmondson Turner and Donegan’s Wealth Advisers team will now begin working remotely from Tuesday 24th March, until further notice.

Please see attached for full statement

You will all no doubt be following closely the news and evolving government guidelines in response to the COVID-19 outbreak which is impacting individuals, businesses, industries and entire economies globally.

As the situation continues to change, we wanted to let you know Donegan’s current position and how we are responding to ensure that we are able to continue to service you as clients effectively, as well as play our part as responsible citizens in minimising any potential spread and “flattening the curve”. 

At Donegan’s, our priority is the health and wellbeing of our clients and our team.  Please see attached for full statement.

https://mailchi.mp/bfbe132991ce/2018-georges-mora-fellow-announced?e=8b38de4db4

The ATO have published an alert with regards to possible SCAMS. There are emails being sent to individuals/businesses claiming they are from the ATO and asking for personal information to be emailed back to them. There are also phone calls to both mobiles and land lines also asking for personal information such as bank account details, credit cards, etc. In some cases the caller is threatening fines if the information the caller wants is not given.

We highly recommend you do not answer any of the questions asked, as this call will more than likely be a scam. The ATO will not contact you via this method and seeing we are your nominated tax agent all enquiries would come to us from the ATO. In an unusual case if the ATO was to contact you directly they would send a letter to your address and then follow up with a phone call or ask you to call them quoting a particular reference.

The ATO does not contact clients via email or texting.

So if you were to receive contact from a person saying they are from the ATO, we would ask you to contact us immediately on 03 9670 5232 or the ATO on 13 28 61

See link below for further information and details from the ATO

https://www.ato.gov.au/General/Online-services/In-detail/Online-security/How-to-verify-or-report-a-scam/

Due to the Easter Break our office will close 4pm Thursday (2/4/15) and will reopen 9am Tuesday (7/4/15).

We are undertaking a server upgrade on Thursday 9 April and Friday 10 April.

As a result, we will not be at full capacity to process any urgent requests or matters.

The office will be running as normal from Monday 13 April.

You may have wondered where Phil & Alison have been the past few weeks? Chasing their son, Jonno Bretherton!

Congratulations to Chad Hewish on his recent appointment to Chartered Accountants Australia and New Zealand Victorian Young Professionals Panel.

Part of Chad’s role with the Panel is to provide input and advice to CA management to ensure that a strong young member proposition is being delivered.

Jonno will compete in the Youth Olympics hosted by Nanjing, China in August.

You can read about the official announcement here

All the best Jonno!

BGL have just launched Simple Fund 360 – the most flexible and automated super product on the market.

To find out more, visit their website by clicking here

At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent.
Since the Board’s previous meeting, information on the global economy has been consistent with growth having been a bit below trend in 2013, but with reasonable prospects of a pick-up this year. The United States economy continues its expansion and the euro area has begun a recovery from recession, albeit a fragile one. Japan has recorded a significant pick-up in growth, while China’s growth remains in line with policymakers’ objectives. Commodity prices have declined from their peaks but in historical terms remain high.

The Federal Reserve has begun the process of curtailing stimulus measures but financial conditions overall remain very accommodative. Long-term interest rates and most risk spreads remain low. Equity and credit markets remain able to provide adequate funding, but for some emerging market countries conditions are considerably more challenging than they were a year ago.

In Australia, information becoming available over the summer suggests slightly firmer consumer demand and foreshadows a solid expansion in housing construction. Some indicators of business conditions and confidence have shown improvement. At the same time, with resources sector investment spending set to decline significantly, considerable structural change occurring and lingering uncertainty in some areas of the business community, near-term prospects for business investment remain subdued. The demand for labour has remained weak and, as a result, the rate of unemployment has continued to edge higher. Growth in wages has declined noticeably.
Inflation in the December quarter was higher than expected. This may be explained in part by faster than anticipated pass-through of the lower exchange rate, though domestic prices also continued to rise at a solid pace, despite slower growth in labour costs. If domestic costs remain contained, some moderation in the growth of prices for non-traded goods could be expected over time.

Monetary policy remains accommodative. Interest rates are very low and savers continue to look for higher returns in response to low rates on safe instruments. Credit growth remains low overall but is picking up gradually for households. Dwelling prices have increased further over the past several months. The exchange rate has declined further, which, if sustained, will assist in achieving balanced growth in the economy.

Looking ahead, the Bank expects growth to remain below trend for a time yet and unemployment to rise further before it peaks. Beyond the short term, growth is expected to strengthen, helped by continued low interest rates and the lower exchange rate. Inflation is expected to be somewhat higher than forecast three months ago, but still consistent with the 2–3 per cent target over the next two years.
In the Board’s judgement, monetary policy is appropriately configured to foster sustainable growth in demand and inflation outcomes consistent with the target. On present indications, the most prudent course is likely to be a period of stability in interest rates.

http://www.rba.gov.au/media-releases/2014/mr-14-01.html (04.02.2014)

Donegan’s Wealth Advisers are pleased to enclose the January 2014 edition of Market Update.

Global economies last month continued to show signs of improvement, with rising employment and overall higher demand seen throughout the major economies.

In the US, the Federal Reserve started its dial down of QE3, with an initial reduction of US$10b, down to US$75b. Janet Yellen, the new Federal Reserve Chairperson elect, was also voted in by Congress.

On the home front, residential property finished 2013 on a strong note, with sales volumes at record levels in Sydney and Melbourne. The Mid Year Economic and Fiscal Outlook was also released last month, and concluded that the budget would remain in deficit throughout the forecast period until 2016/2017.

As markets continue to remain uncertain in the short term, please remember to remain focused on your long-term goals.

If you’d like to discuss anything in this report please contact Donegan’s Wealth Advisers.

Market update 15th January 2014