Tag: Covid19

Covid-19: Temporary changes to minimum pension payments | Q&AMP

Covid-19: Temporary changes to minimum pension payments In response to coronavirus (Covid-19), the Australian government has temporarily reduced the minimum drawdown for account-based pensions by half. AMP Capital senior economist Diana Mousina and technical services manager Fabian Bussoletti discuss the changes in minimum drawdown amounts and how it can benefit retirees. Watch to find out what the temporary reduction in superannuation minimum drawdown rates can mean for your retirement savings and future income payments. 0:42 …

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How to protect your mental health during the COVID-19 pandemic | Money & Life

If you’re feeling worried about the impact of COVID-19 on your financial wellbeing, you’re not alone. CoreData reports that 81% of Australians are fearful about the potential impact of the pandemic on their personal finances and the broader economy. While it is a challenging time in many respects, the added burden of financial stress can be especially hard on your mental health. Severe financial stress can lead to symptoms of anxiety and depression, even triggering …

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Where to seek advice during the COVID-19 crisis | Money & Life

Where to seek advice during the COVID-19 crisis The COVID-19 pandemic is a global crisis and people the world over are experiencing impacts in their lives as a result. To keep your anxieties about money to a minimum, find out where you can turn for help to secure your finances and income. With the ongoing escalation of the COVID-19 crisis many people are struggling. Huge changes are happening and we’re all being affected, socially, emotionally …

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A how-to guide for rent relief, SMSFs and preventing adverse tax outcomes | AMP Capital

A how-to guide for rent relief, SMSFs and preventing adverse tax outcomes Whether you or someone else is leasing a property from your SMSF, the current economic situation is concerning, especially if you have experienced a downturn in business. Worse still, you may be required to shut up shop and can’t afford to pay business expenses. As trustee of your SMSF, how do you solve the cash flow problem if the fund is not receiving …

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Tax reform and big investment are on the table in Australia’s recovery period | AMP Capital

Tax reform and big investment are on the table in Australia’s recovery period The Reserve Bank governor, Philip Lowe, has released new growth forecasts for Australia as the COVID-19 fight continues. There are several levers policy makers could pull as we steer towards recovery and a new growth agenda. Economic growth The RBA expects a 10% decline in GDP over the March and June quarters. These forecasts are similar to our own, we are expecting …

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FAQs, tips and traps with COVID-19 superannuation relief | AMP Capital

FAQs, tips and traps with COVID-19 superannuation relief The federal government has allowed a raft of temporary superannuation changes in response to COVID-19. There are technical considerations in relation to accessibility and eligibility, and importantly, long-term challenges to think about before going ahead. The human health emergency that is COVID-19 has had a rapid and radical impact on basic societal functioning. As we now well know, it’s also pummelled local share markets, wiping about a …

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What happens in Australia if the US market crashes? | AMP Capital

What happens in Australia if the US market crashes? The COVID-19 situation in the United States is looking dire from a human health perspective. With the US still leading global markets, it’s fair to question to what extent Australia will be impacted by the fallout, in spite of its own containment progress. While it remains true that the US does lead markets, we see a divergence between the COVID-19 experience in Australia and the US, …

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Have a property in your SMSF? COVID-19 relief could be on the table | AMP Capital

Have a property in your SMSF? COVID-19 relief could be on the table COVID-19 and possible rent relief for SMSF property tenants As the COVID-19 pandemic continues to affect our lives, SMSFs are impacted by its financial consequences. Not only do we see the downturn in share markets worldwide, but related or third parties who have leased property from SMSFs may end up having to default on rent. But what can be done where a …

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Wellbeing learnings after life in Japan during COVID-19 | AMP Capital

Wellbeing learnings after life in Japan during COVID-19 The COVID-19 human health emergency is pushing us all to live a more quiet, isolated existence. For me, experiencing this reality in Asia during the initial COVID-19 outbreak brought home the importance of some simple, fundamental wellbeing routines. At the moment, countries around the world are coming to grips with the COVID-19 fight we have on our hands. We, and what we read daily, are consumed by …

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Supporting clients with super choices during the COVID-19 crisis | Money & Life

Supporting clients with super choices during the COVID-19 crisis Policy changes and market volatility are throwing the spotlight on super as the COVID-19 crisis ramps up. Get insights from industry leaders to keep in mind as you talk to clients about options for their super. The COVID-19 pandemic cast a long shadow over the 2020 Retirement Conference held on 31 March in more ways than one. As you’d expect at this time of social distancing, …

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