Back in Style: Rapid COVID recovery a kick starter for the retail sector | AMP Capital

Back in Style: Rapid COVID recovery a kick starter for the retail sector While “rona” was selected by Macquarie Dictionary as 2020’s word of the year, “stir-crazy” would have made it onto many peoples’ shortlists. From closed borders to seating quotas, we have had to contend with various forms of restrictions since the onset of the COVID-19 pandemic. Thankfully, cases in Australia have remained under control and life has started to return to normal with …

Planning ahead for the new financial year | AMP Capital

Planning ahead for the new financial year As history shows, a new financial year usually brings new opportunities in super and the commencement of the 2021/22 financial year is no different. From 1 July 2021, indexation of the contribution caps, Transfer Balance Cap (TBC) and Total Super Balance (TSB) takes place. Then there’s the announced continuation of the 50% minimum pension requirement, which has been in place for the previous two financial years. Indexation of …

Navigating your tax return for 2021 | Money & Life

Navigating your tax return for 2021 Do you want to get more from your tax return this financial year, but you’re not sure where to start? It could be as simple as knowing which tax deductions and offsets you’re eligible for. With the end of financial year fast approaching, you might be hoping to claw back some of your hard earned cash when you lodge your tax return this year. The Australian Taxation Office refunds billions …

The 2021-22 Australian Budget – spending the growth windfall to further grow the economy towards full employment | AMP Capital

The 2021-22 Australian Budget – spending the growth windfall to further grow the economy towards full employment Key points The Government now expects the Federal budget deficit to peak at $161bn this financial year (down from $214bn in October’s Budget) and fall to $107bn in 2021-22. The windfall to the budget from stronger growth is being spent on extra stimulus. Return to budget surplus looks more than a decade away. Key measures include more spending …

Indexation allows for higher super contributions from 1 July, 2021 | AMP Capital

  Indexation allows for higher super contributions from 1 July, 2021 Making super contributions after 1 July this year comes with a nice surprise as the concessional and non-concessional caps have been indexed along with the increases to the Transfer Balance Cap and Total Super Balance Cap. So how do the contribution changes work? Increase in concessional contributions cap Indexation of the standard concessional contributions cap takes place in increments of $2,500, calculated on increases …

Australian house prices on the upswing again – seven things to bear in mind about the Australian property market

  Australian house prices on the upswing again – seven things to bear in mind about the Australian property market   Key points Expect average Australian home prices to rise 5-10% this year and next as ultra-low interest rates and economic recovery feed through. However, the outlook is divergent – with houses expected to outperform units and smaller cities and regional property expected to play catch up. The drivers of the long-term property bull market …

5 tips for creating your own good fortune this Lunar New Year

5 tips for creating your own good fortune this Lunar New Year The Lunar New Year begins on 12 February, as we usher in the year of the Ox. Ancient Lunar New Year traditions are believed to encourage health, wealth and prosperity, so why not create your own good fortune with our guide to help you get your finances in order? Have a financial spring-clean Part of the traditional preparations for Lunar New Year includes …

Frugal February – how much could you save?

Frugal February – how much could you save? It’s the shortest month of the year so what better time to make a change and save some money? We’ve got three tips for each of the next four weeks to help those dollars pile up in Frugal February. Week 1 – the same lifestyle for less In week one, we’re easing you into the swing of saving with some good financial habits to get you into …

Five ways to make yourself more employable in 2021

Five ways to make yourself more employable in 2021 If you’re among those who lost their job or missed out on work opportunities last year due to COVID-19, here’s what you can do to improve your employment prospects in 2021. For many people, career plans were put on ice last year, as the world grappled with the impact of COVID-19. The fallout was widespread, with job losses felt across industries as diverse as retail, hospitality …

Review of 2020, outlook for 2021 – from pandemic to recovery

Review of 2020, outlook for 2021 – from pandemic to recovery   Key points 2020 was dominated by the coronavirus pandemic but shares saw okay returns on the back of policy stimulus and vaccine optimism – resulting in constrained but positive returns for balanced growth super funds. For 2021, the combination of massive policy stimulus and the prospect of vaccines allowing a return to something more normal by end 2021/early 2022 should see a decent …