WEALTH INSIGHTS - Matthews Steer · 2016-05-31 · Disclaimer This presentation has been prepared...
Transcript of WEALTH INSIGHTS - Matthews Steer · 2016-05-31 · Disclaimer This presentation has been prepared...
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WEALTH INSIGHTS
26th May 2016
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Jonathan Pain
WhataWonderfulWorld
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Bewaretheprismthroughwhichyouviewtheworld
• Badnewssellsnewspapers• 7billionpeopleintheworld• Viewfrom1-Al8tudeBarSingapore
• Ingenuityofhumanity
• OutofAfrica
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USA
• S8llthegreatestna8onofinnova8on?• Thelandofthefree?• Someslowingingrowth,butok• DonaldTrump-thenewpoli8calreality• TedCruz-“Luciferintheflesh”
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Europe
• Pleasedon’tmen8onGreece!• Loweroilprices• Trucksales• SuperMariodoesitagain• Slowbutsteadyrecovery
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China
• AQerastunningrisecomesacrash
• Governmentmeddlingdisappoin8ng
• 6%growthin2016and5-6%inmediumterm
• Highlevelsofdebt
• SouthChinaSea
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India
• IndiatogrowfasterthanChina• A‘Modi-fied’India!• Oilpricedeclineaposi8ve• Asecondsleepinggiantawakes
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RiseofAsianmiddleclasses
• ChineseandIndianconsumerswillbespendingnearly$10trillionby2020*
• Indonesia,Vietnam,Bangladesh,Philippines• Mostsignificanteconomicphenomenonofourlife8me
*Source:‘The$10TrillionPrize’,Silverstein,Singhi,Liao,Michael,TheBostonConsul8ngGroup
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Australia
• Thegreatrebalancing• A‘sizzling’3%butweakergrowthahead• Housepricessettodecline• Ana8onofrealestateagents• RisingincomesinAsia:greenandcleanAustralia=opportunity
• Morebeach...
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Challengesahead
• Toomuchdebt• Emergingmarketdebt...China• ‘Omnipotency’ofmonetarypolicy?
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WhataWonderfulWorld• Na8onality,colourandgenderarebecomingirrelevantaswebecomeideologicallymoreunitedandbecereducated.
• Thedigitalagegivesusagreaterdegreeoftransparencyandconnec8vity.
• Thedecadesaheadwillseeaneraofprosperity,enlightenmentandopportunitythatveryfewarepredic8ng.
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Thispresenta8onhasbeenpreparedbyJPConsul8ng(ACN101761433)andisforgeneralinforma8ononly.Everyefforthasbeenmadetoensurethatitisaccurate,howeveritisnotintendedtobeacompletedescrip8onofthemacersdescribed.It
doesnotcontainandisnottobetakenascontaininganysecuri8esadviceorsecuri8esrecommenda8on.Furthermore,itisnotintendedthatitbereliedonbyrecipientsforthepurposeofmakinginvestmentdecisions.JPConsul8ngdoesnot
giveanywarrantyastotheaccuracy,reliabilityorcompletenessofinforma8onwhichiscontainedinthispresenta8on.Exceptinsofarasliabilityunderanystatutecannotbeexcluded,JPConsul8nganditsdirectors,employeesandconsultantsdonotacceptanyliabilityforanyerrororomissioninthispresenta8onorforanyresul8nglossordamagesufferedbytherecipientoranyotherperson.Unlessotherwisenoted,JP
Consul8ngisthesourceofallcharts.
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Questions for Jonathan?
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SUPERANNUATION The Past, Present and Future
Anthony Flapper Head of Private Wealth
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What we will cover
Rules we are playing under
Where to from here?
Strategies for consideration
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Current vs Proposed Issue Current Rules Proposed Measures Proposed
Start Date Concessional Contributions
49 and Under $30,000 50 and Over $35,000
$25,000 limit irrespective of age 01/07/17
Non Concessional Contributions
$180,000 annually, $540,000 bring forward rule
$500,000 Lifetime cap 03/05/16
Tax Deductions for Personal Contributions
Self employed need to meet 10% test for deductible status
Deductible contributions available up to age 74 irrespective of employment status
01/07/17
Div 293 / High Income Earners
Adjusted Taxable Income over $300,000 – 15% additional tax on concessional contributions
Adjusted Taxable Income over $250,000 – 15% additional tax on concessional contributions
01/07/17
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Issue Current Rules Proposed Measures Proposed Start Date
Transition to Retirement Pensions
Tax Free earnings when member in pension phase
15% tax on earnings in pension phase 01/07/17
$1.6m Cap on Super Transfers into Retirement Products
Not applicable
Balances in excess of $1.6m will be taxed on earnings at 15% inside fund
01/07/17
Work Test
65-74y.o. currently need to meet work test of 40hrs in 30 days paid employment
Removal of work test so anyone up to age 74 can make personal contributions
01/07/17
Catch up Concessional Contributions
Not Applicable
Accruing of unused Concessional Contributions Cap for a period of 5yrs if fund balance below $500,000
01/07/17
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Concessional Contributions – caps, deductions and carry forward
Re-contributions Segregation of assets Spouse Balancing Family Trusts Insurance Bonds
Where to from here? Retirees (age 65+)
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Where to from here? Pre-Retirees (Age 55-65)
Concessional Contributions – caps, carry forward
Non-Concessional Contributions – since 01/07/07
Transition to Retirement – cease or start
Spouse balancing
CGT Retirement Exemption
Family Trusts
Insurance Bonds
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Where to from here? Accumulators (under 55’s)
Concessional Contributions – caps, deductions and carry forward
Borrowing inside SMSF’s Spouse Balancing Family Trusts Insurance Bonds Start contributing earlier – the value of
compounding
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Opportunities Family Trusts – a resurgence! Ability to build assets in protected structure Use of lower marginal tax rates potentially – spouses, adult children, etc
Continuance post death of generations of family members
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Opportunities Insurance Bonds – an alternative Investment into Company Structure taxed at
corporate rates Tax Free return on investment post 10 year
holding period CGT Free internal switches between
investment options CGT Free transfers of ownership between
individuals Held outside the Will and not challengable by
the estate
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Opportunities
$1.6m cap – segregation of assets
Pension phase now – realising gains pre 1/7/17 if over/near $1.6m
Using c/fwd Concessional Caps
Excess funds drawn from pension vs. accumulation accounts
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Disclaimer This presentation has been prepared by Matthews Steer Pty Ltd, an
Authorised Representative of Premium Wealth Management (ABN 11 091 418
861; AFSL 237498) and is for general information only. The presentation has
been prepared without taking into account your personal objectives, financial
situation or needs. You should assess whether the information is appropriate
for your needs and consider talking to a Premium Wealth Management
Authorised Representative before making any investment decision. The
relevant PDS should be considered before making a decision about any
financial product.
26th May 2016
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Business Card
Draw!
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