Posts by The Muirfield Team
Tamara Carman recovers $150,000 of over-paid taxes for our clients!
Want to learn if you might be eligible for a refund of over paid taxes?
This video is for you!
Our very own Certified Financial Planner®, Tamara Carman, talks about uncovering over $150,000 for our clients over the past 2 years and how many didn’t even know they were entitled to a refund.
These returns are so easy to claim… but they are also so easy to miss!
If you have direct shares or other investments outside superannuation then you may be able to claim back the franking credits relating to these investments.
So who exactly is Frank?
Franking credits represent the underlying tax paid by a company on pre-tax profits from which any dividends were paid.
They may reduce the amount of tax you pay on dividend income or in the case of retirees where there is little or no other taxable income, claim them back as a refund.
The franking concept was introduced to prevent double taxation, however, once retired we are finding that people stop doing a tax return all together and therefore fail to recover excess tax paid.
If you want to find out more, or to see if you are eligible for a refund, we encourage you to contact our office.
Australian Government Policy Update
The Coalition Government has confirmed its position on a range of previously announced super and tax issues, as part of its mid-year economic and fiscal outlook.
To help you understand how this may affect you, we’ve summed up the key highlights below.
Read More2014 Aged Care Changes
The world of Aged Care is changing. As you may be aware, the Government’s proposed ‘Living Longer, Living Better – aged care reform package’ will turn our existing aged care system on its head. The changes are to be introduced from July 2014.
Whilst a lot of information has already been released, we are still waiting on the final legislation; due in April 2014.
To assist you in understanding some of the major changes to occur in Residential Aged Care, we have provided a summary below. Many of our clients are now facing the challenges of placing parents in Aged Care and we specialise in providing advice in this complex area.
If you would like any further information on the topics discussed, please do not hesitate to contact our office and talk to Aged Care specialist Melinda Planken.
Read MoreSave on health insurance while travelling
Most of us would never travel overseas without first taking out travel insurance with medical cover. Regardless of our destination, the peace of mind such a small outlay provides makes for a better trip.
But what about if you are travelling overseas for a lengthy period, say two months or more, and you are already paying a monthly premium to your Australian private health fund? In effect, you’re paying for the insurance twice.
Read MoreSpring eNews 2013
Happy Days
Hello
‘Happy days are here again, the skies above are clear again.’ ♫ ♪ ♪ ♪ ♪ ♪ ♫ ♪ ♪ ♪
The Muirfield team are very excited to welcome another addition to the Creasey family – a second daughter, Georgia. A big congratulations to Carl and his wife, Brigid. We wish them all well.
On the financial front, investment markets have been very kind this past 18 months and we have seen a general improvement in client portfolios and more broadly, investor sentiment.
Additionally the Australian Bureau of Statistics has revealed that for a couple aged 60 there is a 50% chance one of them will live beyond 90. There are 6 times as many people aged 85+ than there were in Australia in 1972. Long life, with good health and improving finances surely makes for Happy Days…..
Click here to read the 2013 Spring Newsletter
Australia's Changing Population: some key statistics
A recent study by the Australian Bureau of Statistics has revealed some interesting insights about Australia’s population. These findings show a broader shift in the population and present some stimulating topics of discussion.
Read MoreMoneySmart Week is upon us!
MoneySmart is a Government funded initiative to promote financial literacy amongst all Australians. To start the beautiful season that is Spring, MoneySmart are having a week long festival from September 1 to 7 to outline the importance of good financial habits. Their website, which can be viewed by clicking here, is full of useful tips…
Read More2013 Winter eNews
Frosty mornings, bright lights and a new financial year
Winter is well upon us and if you are like most in our part of the world, you are probably still trying hard to adjust to the frosty mornings and a lack of sleep from watching sporting events like Wimbeldon and the Tour de France. If you concentrate on southern hemisphere sport then perhaps you have enjoyed the spectacle of night matches in Geelong, courtesy of the new bright lights at Skilled Stadium.
On the financial front, entering a new financial year is a good chance to reflect on the year that was. In our 2012 Winter Newsletter we wrote “Let me go out on a limb ……… I believe the sharemarket will recover this year”.
Indeed, the sharemarket has enjoyed a good recovery over the past 12 months with the All Ordinaries index up 19% since that statement. It is pleasing to see this increase flow through to our client portfolios.
It is also a great time to reflect on what is really important as an investor. For most people approaching retirement, or already in retirement, income is the most important consideration. Great as it is to see the capital value of investments increase, this is somewhat less important than the income generated by your investments.
We thought this video by Paul Clitheroe, director at iPac Securities, summed up the importance of income very well.
Click here to read the 2013 Winter Newsletter
Don’t risk a DIY Will!
The do-it-yourself trend and the internet have made writing your own will seem like an easy way to get your affairs in order. But it’s not as simple as it seems and there’s no substitute for proper advice from a qualified lawyer, no matter how straightforward you think your affairs are.
What appears to be a cost-effective solution can be financially and emotionally draining for those you leave behind should a home-made will go wrong, and there are plenty of examples of that happening. The legal dispute over the assets of car-racing identity Peter Brock springs to mind.
Read MoreWhat does retirement mean?
We thought this video summed up retirement from a kids perspective quite well. Click play and enjoy for some light relief.
Read More