If you would like to discuss your financial future with one of our advisers call us on (08) 9380 6333 or send us a message using our Contact Us page and we will get back to you.

In This Week’s Client Newsletter:

Feature article:

 ”Laying The Foundations For Successful Investing”

Overseas:

Facebook launches record-breaking IPO.

Mixed news from the US and China.

Japan’s GDP growth double that of the US despite repercussions of earthquake and tsunami.

Gold and oil continue poor run.

Australia:

Good news on domestic economic data.

Aussie dollar slips below the US dollar.

Plus all the usual news roundups on the WA Housing Market, Fuel prices,
Celebrity Birthdays and Sports.

It doesn’t help that the Big Three ratings agencies Moody’s, Standard & Poor’s and Fitch can vary in their outlooks.

Anyway, to try and help you to have an overview of the current state of play we found this interactive map at Chartsbin. Choose the agency you want from the dropdown box and just move your mouse over the country of your choice.

Enjoy!

via chartsbin.com

Wealthwise Adviser Simon Podesta

Wealthwise adviser Simon Podesta asked one of his clients for feedback on her experience of the whole financial advice process. She was happy to give the following testimonial:

1) Why did you choose to work with Simon?

Simon was recommended to me by a family member who had a very good experience working with him.

2) Were you happy with the service provided by us?

Yes, I was extremely happy.  Simon presented the information in a very clear manner and took the time to explain everything until I had a sound understanding of my financial position.

3) Did the final outcome meet (or even exceed) your expectations?

The final outcome of the plan presented to me by Simon was very reassuring that I will be able to manage my financial position for the future.  

As the initial experience of dealing with a financial plan was very frightening, I was not allowing myself to expect too much and probably leant towards a negative outcome.

Due to Simon’s professionalism, sound research and clear understanding of my needs, he was able to prepare a plan that I was happily surprised by, able to comprehend and had my fears allayed.

His offer of ongoing support is also of comfort as no doubt there will be times when I will need further clarification or a tweaking of the plan.

4) How would you describe you experience with us to a third party?

I would highly recommend Simon to work associates, family and friends.  He provided an excellent, efficient and professional service.  He answered my correspondence and arranged our meetings promptly and courteously

A.  Minett, Perth

If you would like to discuss your financial future with Simon call him on (08) 9380 6333 or send him a message using our Contact Us page.

New Wealthwise Financial Adviser Ash(ley) Britton

Wealthwise welcomes a new adviser this month – Ashley Britton.

Ash has worked in the Financial services industry since leaving university in 2005 where he graduated with an Economics degree majoring in Bank Finance and Accounting.

Ash has gained experience working within Commonwealth Bank before joining the Wealthwise Team and has completed his Advanced Diploma of Financial Services in 2012. He has gained extensive knowledge of retirement planning, investment, and wealth protection and also accredited in SMSF and gearing strategies. 

Ash’s aim is to understand the client’s position, needs and objectives to provide an outcome that enables peace of mind and a clearer vision of their financial future.

The Principal of Wealthwise, Jamie Luxton, sees Ash’s  wide knowledge as being a great asset for our clients:

“Ash is very good at seeing the ‘big picture’ and, being very client-orientated, will fit in well with Wealthwise’s company culture.”

If you would like to discuss your financial future with Ash call him on (08) 9380 6333 or send him a message using our Contact Us page.

The Wealthwise Client Newsletter

The Wealthwise weekly newsletter is just a small part of the ongoing service that Wealthwise offers its clients.

In This Week’s Client Newsletter

Feature article:

“Federal Budget Summary 2012-13″

 Overseas:

French and Greek elections cause nervousness.

Good news from the US, China and . . . Latvia!

Gold and oil continue their decline.

Australia:

Business confidence up.

Unemployment rate down.

Aussie dollar moves closer to parity with the US dollar.

Plus all the usual news roundups on the WA Housing Market, Fuel prices,
Celebrity Birthdays and Sports.

Summary of Federal Treasurer Wayne Swan's 2012-13 Budget

  Now that we’ve had more time to digest Wayne Swan’s latest budget, we have prepared a more detailed summary of the major changes than the one we published on Wednesday.

 If you would like to discuss the details and how they impact your personal situation and financial strategies, please do not hesitate to call your adviser on (08) 9380 6333 or send us a message using our Contact Us page.

Superannuation

•   Deferral of higher concessional contributions cap (for those aged 50 and over from 1 July 2012)
•   Reduction of higher concession for contributions of very high income earners
•   Minimum draw down relief for super pension holders remain in place, returning to the normal rates from July 1 2013
•   Superannuation guarantee rate to progressively rise from 9% to 12%
•   Maximum age limit for the superannuation guarantee to be abolished
•   Low income superannuation boost

Social Security

• Mature age worker tax offset (MAWTO) to be phased out from 1 July 2012
•   FTB Part A increase
•   Family Tax Benefit (FTB) A eligibility from January 2013
•   Schoolkids Bonus
•   Aged care reform from 1 July 2014
•   Reduced payment period of Government Payments for people who are temporarily absent from Australia from 1/01/2013
•  Australian residency requirements for the Age Pension from 1 January 2014

Taxation

•   Increased Medicare levy low income thresholds from 1 July 2011
•   Means testing of net medical expenses tax offset (NMETO) from 1 July 2012
•   Accelerated real estate review from 1 July 2012
•   Removal of the capital gains tax discount for non-residents
•   Changes to tax rates for non-residents
•   Company Loss Carry Back
•   Small Business Immediate Write-Off Extension

Previous proposals shelved

• Reduction of the corporate tax rate to 28%. The corporate tax rate will remain at 30%.
• Standard tax deduction of $1,000 for work-related expenses and the cost of managing tax affairs.
• 50% discount for the first $1,000 of interest income.

The following changes announced since last year’s budget will go ahead

• Confirmation of changes to marginal income tax rates & thresholds
• Allowances & supplements to reduce the impact of the introduction of a price on carbon.

The Australian Financial Review on the Aussie Dollar falling back towards parity with the greenback. Apparently, our dollar is seen as a “Risk” currency while the US Dollar is a “safe-haven”.

As the Americans say, “Go figure.”

http://www.afr.com/p/markets/market_wrap/greek_woes_send_towards_parity_u0N8y1Fw090Nm3s9HiGhxI

• Tax-free threshold rises from $6,000 to $18,200
• $1.8 billion increase to Family Tax Benefit Part A (but doesn’t start until 1st July, 2013)
• New Schoolkids Bonus. The good thing about this is that it’s paid directly
• Introduction of the National Disability Insurance Scheme
• “carry-back” tax losses for small businesses
• $515.3 million  to improve dental care and “blast” waiting lists
• A $3.7 billion Aged Care package and an increase of Home Care Packages to nearly 100,000 over the next 4 years
• Rise in Superannuation concessional contributions cap deferred for another 2 years

There were also cuts to Defence, foreign aid and the abandonment of a proposed reduction in company tax.

If you are unsure how the Budget affects your financial future call your Wealthwise adviser on (08) 9380 6333

To see the Budget in more deal you can visit the Federal government’s website 

http://budget.australia.gov.au/2012-13/content/at_a_glance/html/at_a_glance.htm

Canberra promises a "return to surplus" federal budget

This weekend the government has been busy telling everybody the good news about the 2012-13 Federal Budget, which is due to be announced on Tuesday evening (that’s when we’ll get to hear the bad news!).

The main theme of the budget is “return to surplus”.

Promised highlights include $500 million for dental care, a “School Kids Bonus” and loss “carry-backs” for small businesses.

The area the pundits are predicting will face the biggest cuts is Defence.

Treasurer Wayne Swan will begin his reading of the budget at around 7.30 p.m. AEST on Tuesday, 8th May.

You can find more information on the budget on the government’s website

http://www.budget.gov.au/

You might also find The Power Index’s profile of “The Most Powerful Man in Canberra” quite educational

http://www.thepowerindex.com.au/politicians/wayne-swan

Yes, the government will put extra money into your super!

 Feature article:

“Co-contributions Boost Super” – Yes, the government will put extra money into your super!

 Overseas:

Major stock markets have a good first quarter of 2012.

US economy grows in first quarter.

Spain back in recession.

 Australia:

Australian stocks at 9-month high.

Federal Budget week.

RBA cuts interest rates – exporters hoping for another cut in August?

Plus all the usual news roundups on the WA Housing Market, Fuel prices,
Celebrity Birthdays and Sports.