Economic and market update video – 15 June 2020

Economic and market update video – 15 June 2020

Bob Cunneen, Senior Economist at MLC Asset Management, discusses the continuation of the May share markets rally in Australia and overseas in anticipation of a reopening of economies, despite COVID-19 infections accelerating in Latin America.

Watch the 4 minutes video here.

Source: https://www.mlc.com.au/personal/blog/2020/06/economic_and_market

 


HomeBuilder program announced

The Government has announced the HomeBuilder program to help drive economic activity across the residential construction sector by providing grants of $25,000 to eligible owner-occupiers for new home construction and substantial renovations.

Read the full details here – homebuilder_program 4 June 2020

Want more information?

Please speak with a financial advisor at Bluerocke Investment Advisors or call us on 1300 717 136.

 


Extended lodgement time frame – Notice of Intent to claim a deduction in 2018/19

Extended lodgement time frame – Notice of Intent to claim a deduction in 2018/19

The ATO has written to an estimated 25,000 individuals who:

  • have claimed a tax deduction for a personal super contribution in the 2018/19 financial year, and
  • whose super fund has not reported receipt of a valid Notice of Intent.

The ATO letter encourages these individuals to submit a Notice of Intent to their fund to receive an acknowledgement notice before 30 June 2020, to retain the deduction.

What about the legislated timing requirements?

Under tax law, a Notice of Intent must be submitted to the fund and acknowledgement received by the individual by the earlier of:

  • the end of the following financial year (30 June 2020 for the 2018/19 financial year), or
  • the time the person submits their tax return for the financial year in which the contribution was made.

This would ordinarily mean that if a person has already submitted their tax return without lodging a Notice, they are ineligible to claim a deduction.

However, the ATO has confirmed that in this instance, if a Notice of Intent is submitted with an acknowledgement received from the fund before 30 June 2020, they will not review the timing of the acknowledgement notice.

Those clients contacted by the ATO should endeavour to lodge outstanding Notice of Intents as soon as possible to allow trustees to provide acknowledgement prior to 30 June 2020.

Any questions, contact a financial adviser at 1300 717 136 today.

 

Source: MLC News and Updates, Article published on 05-06-2020

https://cloud.ecomms.mlc.com.au/extended-lodgement-time-frame?utm_source=ExactTarget&utm_medium=Email&utm_term=6099416&utm_campaign=&utm_content=


Economic and market update video – May 2020

Economic and market update video – May 2020

The coronavirus has had a significant impact on investment markets.

Bob Cunneen, Senior Economist at MLC, discusses what to expect over the coming months in this 5 minutes video.

Source: https://www.mlc.com.au/personal/blog/2020/05/economic_and_market

 

 


Economic and market update video – April 2020

Economic and market update video – April 2020

The coronavirus has had a significant impact on investment markets.

Bob Cunneen, Senior Economist at MLC, discusses what to expect over the coming months in this 5 minutes video.

Source: https://www.mlc.com.au/personal/blog/2020/04/economic_and_market


Global Financial Crisis in 2008 again?

Are current market events a repeat of the Global Financial Crisis in 2008?

Current market volatility is distinctly different to the GFC. For one, banks will be part of the solution this time, not the problem. Portfolio Manager, Myooran Mahalingam discusses in this video.