The road ahead for global listed infrastructure after a difficult Covid landing

In this video, the Magellan GLOBAL Listed Infrastructure team lead byGerald Stack, Magellan’s Head of Investments & Infrastructure share their insights on the current state of the global listed infrastructure sector, including the recent performance, outlook, and future opportunities for investors as we move into 2021.

Viewing time: 60 mins.



New SA COVID restrictions

Dear All

In response to the COVID-19 advice and restrictions announced by the State Government, we will be working remotely for most part.

Due to the high level of agility with our technologies, we will remain fully operational.

Most of our meetings and events will now occur via telephone or via GoogleMeet, with only business-critical meetings taking place in our office.

If you are due to attend in our office but feel unwell, please advise us asap, so that we can instead meet with you via telephone or video conferencing.

Please email for any questions, support or enquiries.

Stay safe and well.

From all of us at BlueRocke.

InReview: Perspectives on the future of the global economy (video)

Hamish Douglass, Magellan’s Chairman and Chief Investment Officer, spoke with Janet Yellen, the most recent former chair of the Federal Reserve, and an adviser to Magellan, about the covid-19 health and economic crisis.

The pair discuss the response of the Federal Reserve and how the crisis of 2008-09 has given guidance to the response. They talk about the economic impact and Janet explains why a Nike swoosh-like recovery is more likely than a V-shaped bounce back. They discuss the struggles of emerging markets, the risk of inflation and end on what they find to be optimistic about.

Watch the 46 minutes video here.


Managing the COVID-19 crisis–an update on Government policies that might affect you

The ongoing Coronavirus crisis is all over the news and while the reports from Victoria are concerning, it’s good to remember that in absolute and global terms Australia is still managing the medical crisis exceptionally well. That said, the lockdowns, border closures and general loss of consumer and business confidence have affected the economy and so the Government has stepped in with massive support measures.

The massive cost of those measures—and better data about the crisis—means the government has recently proposed some changes to the conditions of some of their main measures.

Here’s a summary.

1. JobKeeper Payment

Under the JobKeeper payment, businesses that meet certain criteria can get a subsidy from the Government to continue paying their employees. Eligible employers need to apply to the ATO for the payment on behalf of their employees.

By keeping employees ‘tied’ to their jobs, JobKeeper is designed to maintain employment. Typically getting people back into the workforce is one of the most difficult economic problems caused by recessions.

JobKeeper was due to cease on 27 September.

The Government has proposed to extend the JobKeeper program with the payment to be reduced over time and paid at two rates. The two rates relate to whether you’re considered to be a full-time or part-time worker for this purpose, and is intended to be determined based on the hours you worked in the applicable test period. Depending on your circumstances, this test period will be either February or June 2020. Full-time workers are those who have worked more than 20 hours in the applicable test period.

From 28 September 2020 to 3 January 2021:

  • the payment rate will fall to $1,200 each fortnight for full-time employees, and
  • $750 each fortnight for part-time employees.

From 4 January 2021 to 28 March 2021, the JobKeeper payment rate will be:

  • $1,000 each fortnight for full-time employees.
  • The rate for part-time employees will fall to $650 each fortnight over this period.

To find out more, including whether you’re an eligible employee, visit the Federal Government’s JobKeeper payment web page

2. Income support for individuals

The Government has implemented some temporary measures to enable more people to access some social security benefits and concessions. This includes temporarily relaxing some of the eligibility criteria for certain payments.

The Coronavirus supplement also temporarily increases the total payments available to eligible social security recipients.

  • Payment of the Coronavirus supplement of $550 per fortnight for those already receiving a qualifying income support payment continues until 24 September 2020.
  • The Government has proposed to extend payment of the supplement to 31 December 2020 at a reduced rate of $250.

The supplement is taxable and is paid automatically to people receiving an eligible payment or benefit. The list of qualifying income payments is available here.

If you’re receiving JobKeeper payment from your employer, this must be declared as income if you’re applying for or receiving any payments or benefits.

You can register online via MyGov or by phone for social security payments and other concessions.

3. Economic support payments for pensioners

Two payments of $750 each were made to people receiving certain social security payments and eligible concession card holders. The first payment was made from 31 March 2020 and the second payment was paid around 10 July 2020.

Importantly, these payments are not taxable and don’t count as income for the purposes of social security, Farm Household Allowance and veteran payments.

Contact Services Australia at to discuss the full range of benefits and concessions that may apply to you.

4. Access to your super

Whilst your super is designed to provide for a better lifestyle in retirement (via long-term investment), the Government is allowing temporary early access to super for certain people who are in financial difficulty as a result of COVID-19’s impact on your finances.

Eligibility rules apply to determine whether you’re able to make a withdrawal under this temporary measure.

From 1 July 2020, you can submit one request for an early release of up to $10,000 of your super—this is the second stage of the Government’s early release of super program, with an amount up to $10,000 also being available for release up to 30 June 2020.

Originally, applications for an additional lump sum in the current financial year needed to be submitted by 24 September but the Government has proposed to extend this date to 31 December 2020.

To apply for a release of your super under this temporary measure, applications need to be made online via MyGov. The ATO will then contact your fund to process the release.

It’s important to remember that any money you take out of super now leaves you less money invested for retirement. While it may make sense to draw on your super now if you are in financial need, a chat to a financial adviser may help you balance your current cashflow worries with your long-term lifestyle needs.

We are here to help you navigate your finances during COVID-19. Contact Dev Sarker at 1300 717 136 today!

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Four tips to get your super back on track

Like many Australians, you may have dipped into your super early as part of the government’s Coronavirus financial hardship scheme. While the extra funds can come in handy right now, it’s important to keep sight of the bigger picture.

If you lost your job or had your hours reduced due to the impact of the Coronavirus, you may have taken advantage of the government’s early release of super scheme and dipped into your super to help with your living expenses.

Once you’re in a more comfortable financial position, it may be time to think about how you will rebuild your super balance to minimise the long-term impact on your retirement savings. This is especially important when you’re young because of the power of compounding returns over time. You can use the government’s moneysmart super withdrawal estimator to see how much of an impact the withdrawal may have on your retirement, so you can work out how much you need to rebuild.

Here are four simple suggestions for how to get your super back on track again.


If you didn’t need to use all the money you withdrew from your super, you can add it back to your super account as a one-off contribution. As well as boosting your balance, this might allow you to reduce your income tax (if you’re eligible to claim your contribution as a tax deduction).

Keep in mind, however, that the ATO is imposing penalties for anyone they determine has taken money out of super and then recontributed it for the sole purpose of obtaining a tax deduction. You can read more about it on the ATO website.


If you’re back at work now and earning a wage, check whether your employer supports salary sacrificing. This is using part of your before-tax salary to contribute to your super, on top of the 9.5% Super Guarantee contributions your employer already makes for you. It will also reduce your taxable income, which means you could potentially pay less income tax.

Regularly putting in extra money to top up your super can make a big difference to your balance over time. For example, this chart shows the difference contributing a small amount each pay could potentially make to your super balance at retirement.1

Salary sacrifice per week Super balance at age 65 Difference
$0 $168,605
$10 $180,260 $11,655
$20 $191,915 $23,309
$30 $203,569 $34,964


1. Assumptions: This example assumes an initial super balance of $0, a salary of $65,000 p.a. and a weekly salary sacrifice of $10, $20 or $30 per week over 25 years. Current age is 40, and retirement age is 65 years old. Results are in today’s dollars, adjusted for annual inflation of 3% CPI and 3% of rising community living standards. The balanced investment option assumes an investment return of 3.46% p.a. after fees and tax. Source: CFS First Tech Team.


If you’re lucky enough to come across a lump sum, it could make sense to put all or some of this money into your super. For example:

  • a redundancy payout
  • a tax refund
  • an inheritance
  • the proceeds from a sale, such as a car or your house.

Just remember that there are limits around how much you can contribute to super each year. Currently, you can make up to $25,000 in before-tax (concessional) contributions and $100,000 in after-tax (non-concessional) contributions each financial year.2 If you go over these caps, you may have to pay additional tax.


How your super is invested may make a difference to how long it takes your balance to recover. Typically, growth assets like property and shares have higher returns than defensive assets like cash and fixed interest. Most investment options in super funds have a mix of both growth and defensive assets.

Check your latest statement, log on to FirstNet or download the Colonial First State app to see if your investment strategy is appropriate for you. If you’re not sure, get in touch with a financial adviser. Contact Dev Sarker at 1300 717 136 today!


Early access to super extended

On 23 July 2020, the Government released the Economic and Fiscal update which included previously announced measures that were amended or reconfirmed.

Extension of early release of super (coronavirus) application period
Access to superannuation for eligible individuals under the financial hardship – Coronavirus condition of release will be extended. Currently, applications to have an amount released in 2020/21 need to be made by 24 September 2020. However, the application period will be extended to 31 December 2020.

An amount up to $10,000 may be accessed up until this date by eligible Australian and New Zealand citizens and permanent residents.

The superannuation regulations will need to be amended to support this measure.

For more information about this temporary condition of release and the application process, see the below super access articles on the MLC website:

To help you keep your clients informed we have updated our two early super access articles.

Other superannuation measures
The update also included the following measures, some of which had been previously announced:

  • The Government intends to legislate the previous proposal to increase the maximum SMSF membership limit from four to six. The commencement date will be after Royal Assent.
  • The start date of the Retirement Income Covenant will be deferred to 1 July 2022. This relates to superannuation fund trustees being required to consider retirement income needs for members.
  • Amendments will be made to the Treasury Laws Amendment (Reuniting More Superannuation) Bill 2020 which is currently before Parliament. The changes include deferring the commencement dates of various amendments which includes ceasing the operation of eligible rollover funds.

Source: MLC Tech

We’re here to help, reach out to Dev Sarker at 1300 717 136 today if you need any assistance.