CCA Financial Planners
 

Your Financial Confidence - October 2014

Included in our October edition of Your Financial Confidence are articles on

Centrelink pension deeming changes effective 1 January 2015

The Australian Government is changing the way they assess superannuation account-based income stream products (also known as allocated income streams and account-based pensions).

From 1 January 2015, the deeming rules that apply to financial investments will be extended to account-based income stream products.  This means that all financial assets will be assessed under the same rules.  For instance;

  • If you change products or buy a new superannuation account-based income stream product from 1 January 2015, it will be assessed using the deeming rules.
  • If you are a self-funded retiree and receive aged care, your deemed income from your superannuation account-based income stream product will be used to assess your aged care fees
  • If your partner holds a superannuation account-based income stream product and they are not receiving income support payments, the deeming rules will apply to their product and used when calculating your entitlement.

Should you wish to review your position please contact us as soon as possible to arrange.

Cheers

Christopher Cachia & The Team

 

October Economic Update

Brian Parker, Head of the Portfolio Specialists Group at MLC, gives an update on markets during September.

He discusses:

  • why it was generally a disappointing month for share market investors

  • how a range of geopolitical concerns continued to unsettle markets

  • why the European Central Bank took further steps to boost eurozone growth

  • why Australia’s economic environment remains uncertain, despite signs of improvement in the non-mining economy, and

  • which positions in MLC’s multi-asset portfolios added significant value during the month.

To find out more:

 Download the 2 page October economic update.

October economic update - Watch the video

Selling your small business?

You’ve worked hard to build your business from the ground up — you’re finally ready to reap the rewards.
Read more »

Dealing with worst case scenarios

There’s no point in worrying about the future. But that doesn’t mean you shouldn’t be prepared. Having a plan means you can relax and enjoy the present, knowing that whatever happens, you and your loved ones will be taken care of. Read more »
   In this edition
 
October Economic Update
Selling your small business?
Dealing with worst case scenarios
 
 

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This advice may not be suitable to you because it contains general advice that has not been tailored to your personal circumstances. Please seek personal financial and tax and/or legal advice prior to acting on this information. The material contained in this newsletter is based on information received in good faith from sources within the market, and on our understanding of legislation and Government press releases at the date of publication, which are believed to be reliable and accurate. Material referenced in the ‘Three sixty research market update’ has been prepared by, and is part of, MLC’s Advice Service team which is owned by IOOF.
Whilst CCA Financial Planners are of the view the contents of this newsletter is based on information which is believed to be reliable, its accuracy and completeness are not guaranteed and no warranty of accuracy or reliability is given or implied and no responsibility for any loss or damage arising in any way for any representation, act or omission is accepted by CCA Financial Planners or CCAFP Wealth Pty Ltd or any officer, agent or employee of CCA Financial Planners or CCAFP Wealth Pty Ltd.