Easter Break – Office Closed 4pm Thursday
Easter Break – Office Closed 4pm Thursday
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.
How to navigate the maze of choosing insurance
To discuss this further and obtain assistance with choosing appropriate insurance to meet your needs contact Alison Foenander of Donegan’s Wealth Advisers at email@example.com or on 03 9670 5232
Gold for Bretherton
Congratulations to Chad Hewish on joining the CA 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.
Xero’s June Release
Features in the latest release include:
• New payment service for receiving payments directly from invoices
• Added user roles
• Support for four decimal places on unit prices
• Smart lists – a simple customer relationship management feature
For more information please visit the Xero blog
If you have any questions on the latest update or on how Xero can make your business more efficient please contact Phil or Chad.
(03) 9670 5232
Congratulations to Jonno Bretherton who has made the 2014 Hockey Youth Olympics Team
You can read about the official announcement here
All the best Jonno!
Lani Bullen cycling from Melbourne to Broome for Cystic Fibrosis
For more information and to donate to the cause, please visit:
Annie McPherson rewarded for work with Ankylosing Spondylitis Victoria
Annie is the Founder and President of the Ankylosing Spondylitis Group of Victoria and has volunteered in the area for many years.
Divison 293 Tax – Super Funds
Division 293 tax is being introduced from the 2012–13 year to reduce the tax concession on superannuation contributions for individuals with income greater than $300,000 a year.
Division 293 tax will be charged at 15% of an individual’s taxable concessional contributions above the $300,000 threshold (which are capped for 2012–13 at $25,000). For individuals who are members of a defined benefit fund, Division 293 tax may be calculated on notional contributions, which are not capped.
For more information, contact our office or visit the ATO website.
Xero Introduction Evenings – A Great Success
The events saw over 20 small business owners watch and listen to Jeremy Sutton as he gave a live demonstration of the software.
The main benefits discussed including enhanced collaboration and efficiency.
BGL Release Simple Fund 360
To find out more, visit their website by clicking here
SuperStream launching 1 July 2014
To find out more click here.
February Market Update
Global economies continued to improve, with the International Monetary Fund revising its 2014 global growth forecast up to 3.7%.
Over in Europe there are signals the economic recovery is gaining momentum, with industrial production up 1.8% in November and car sales increasing for the third month in a row. However, the risk of deflation remains at the forefront of the Eurozone with CPI increasing only 0.8% in December.
In domestic news, economic growth remains weak with below trend growth rates. While the December unemployment rate did remained unchanged at 5.8%, we saw employment rates fall in every state except Western Australia. On an encouraging note, the housing market is looking positive with housing finance approvals rising by approximately 2% per month.
If you would like to discuss anything in this report please don’t hesitate to contact Alison Foenander of our office.
Any advice in this communication has been prepared without taking account of your objectives, financial situation or needs. Because of this you should, before acting on any advice, consider whether it is appropriate to your objectives, financial situation and needs. Apogee Financial Planning Limited ABN 28 056 426 932, registered office 105 – 153 Miller Street North Sydney NSW 2060, is an Australian Financial Services Licensee and member of the National Australia Bank group of companies. From time to time Apogee Financial Planning, members of the National Australia Bank group of companies, associated employees or agents may have an interest in or receive pecuniary and non pecuniary benefits from the financial products and services mentioned herein.
RBA decides to leave cash rate unchanged at 2.5%
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.
January 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.
Seasons Greetings | Office reopening Monday 6th January, 2014
Note, the office will reopen Monday 6th January, 2014.
“A Year in Review” by MLC’s Brian Parker
Congratulations to Chad Hewish on receiving a Merit Certificate for Management Accounting
The Institute awarded Chad with his Merit Certificate for this achievement at Crown Palladium on the 28th of November.