• JCMB Consulting

    Self-managed Superannuation Fund Audit and Consulting Services

     

    Find Out More...
  • JCMB Consulting

    Trusted, Experienced, Professional - Superannuation Services in Inverloch

     

    Find Out More...

Super News

You may have heard of Brexit and the surprise result with the UK recently voting to leave the European Union.

The ramifications of this decision have been widespread with immediate falls in the sharemarkets where billions of dollars were wiped off in a day, and there is still general uncertainty about the potential impact on world economies.

If your fund is invested in Australian or overseas shares you may note that there has been a dramatic loss in the value of those investments. However; at this time, this is an unrealised loss.

Sharemarkets are subject to volatility, and this is one of the risks that Trustees consider when formulating the fund’s investment strategy.

However, the fact that shares have always eventually bounced back is the reason that they are widely considered to be an appropriate long term investment.

It would be prudent to consider your long term strategy before making any decisions about whether to hold, buy or sell shares at this time.

There has been a lot of talk about the May budget and the implications for self managed super funds, possibly the most significant of which is the $500,000 cap on member (undeducted) contributions.  This change, if legislated, will be retrospective, meaning that it will apply to any contributions made since 1 July 2007.
 
There is always a chance that the proposal will not be legislated in its current form, and prominent industry professionals are lobbying the Government to remove the retrospective aspect; however, it is essential that you consider this proposed change in any plans that you may have for future member contributions.
 
For more on the key budget measures Click Here

Transition Date for Collectables and Personal Use Assets Ends on 1 July, 2016

Featured Local Artist

Thumbnail Kelly Brumley has loved drawing for as long as she can remember and showed a natural talent from an early age. When she was 12, she taught herself how to draw life-like portraits from a book that a...

Featured Local Business

Thumbnail Local author J. M. Anderson has written a novel inspired by her husband Dr Norm Vradenburg's early Australian Adventures. When Jay Wilson, a new graduate as a Doctor of Chiropractic, flew into...

Contact Details

0418 324 992
This email address is being protected from spambots. You need JavaScript enabled to view it.
View Michele's Linkedin Profile
Follow JCMB on Facebook
JCMB Consulting Pty Ltd
PO Box 480, Inverloch, VIC 3996


 
ABN 86 768 265 615
Michele Beattie – Principal


C.A., B. Commerce (Melb), Approved SMSF Auditor / SMSF AUDITOR NUMBER - 100 087 330


Liability limited by a scheme approved under Professional Standards Legislation