Tag: Federal

Help with your finances during the COVID-19 pandemic | Money & Life

  Help with your finances during the COVID-19 pandemic Since the COVID-19 pandemic arrived in Australia in 2020, the Federal Government has made financial support available to individuals, households and businesses. Here’s an update on the latest announcements on these economic stimulus measures. You can check back here for regular updates on what’s happening that could help you with your finances. A huge number of people in Australia have experienced the financial impact of COVID-19. You, …

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After the Bell: daily market update, July 23 | AMP Capital

ECONOMICS & MARKETS After the Bell: daily market update, July 23 23 Jul, 2020 The ASX finished higher today and the federal treasurer, Josh Frydenberg, delivered the mini budget for Australia. Our senior economist, Diana Mousina, joins us with her insight. Important information While every care has been taken in the preparation of this video, AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232497) and AMP Capital Funds Management Limited (ABN 15 159 …

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Changes to super contribution rules for over 65s

Changes to super contribution rules for over 65s The Federal Government has updated superannuation laws to allow older Australians to contribute to their super for longer. Work test to apply from age 67 The government has increased the age up to which super contributions can be made without having to meet a work test from 65 to 67. The work test requires you to be in paid work for a minimum of 40 hours in …

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COVID-19: Withdrawing super – what to consider | Money & Life

COVID-19: Withdrawing super – what to consider In March 2020, the federal government announced early access to super as one of their measures to support people experiencing financial hardship during the COVID-19 pandemic. Find out some things to consider when looking at this option to take the pressure off your finances at this challenging time. Throughout March 2020 the federal government has been releasing details of financial support available to Australians who have lost income …

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Covid-19: Early Access to Super and FAQs | Q&AMP

Covid-19: Early Access to Super and FAQs The federal government is allowing early access to super funds for Australians impacted by Coronavirus (COVID-19). AMP Capital senior economist Diana Mousina and financial adviser John Dani share the pros and cons, plus what you need to know before accessing your super. Watch to find out if you’re eligible for a lump sum payment under the Australian government’s new early access to super scheme and what the early …

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Withdrawing super – what to consider | Money & Life

Withdrawing super – what to consider In March 2020, the federal government announced early access to super as one of their measures to support people experiencing financial hardship during the COVID-19 pandemic. Find out some things to consider when looking at this option to take the pressure off your finances at this challenging time. Throughout March 2020 the federal government has been releasing details of financial support available to Australians who have lost income due …

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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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Federal Government stimulus package: Changes to pension drawdown and deeming rates

Federal Government stimulus package: Changes to pension drawdown and deeming rates The Australian Federal Government has proposed two key measures to help retirees and those receiving income support to manage the financial impact of COVID-19. 1. Lower minimum pension drawdown rates The government has announced a 50% reduction in the minimum income drawdown from account-based pensions and similar products for 2019-20 and 2020-21. This means Australian retirees can reduce income payments from their superannuation-based pensions …

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Federal Budget – what could it hold?

Federal Budget – what could it hold? Speculating about the likely look and feel of the 2016 Federal budget is fast becoming a national pastime. That’s largely because significant tax reforms are on the cards, with changes that could impact key wealth assets like property and superannuation. Any reforms are expected to help to plug the revenue gap created by the winding down of the resource boom, which has seen corporate profits (and consequently tax …

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Aged care – A loser in the recent 2015-16 Federal Budget

  Aged care – A loser in the recent 2015-16 Federal Budget Residential aged care received only minimal attention in the government’s recent Federal Budget. Unfortunately, people entering residential aged care from 1 January 2016 are the losers from the budget, as the strategy available to assist families wishing to keep the family home will be removed. Currently there is an advantage for people entering aged care to keep the family home and fund all …

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