From their lows last year, we have seen equities (both Australian and global) along with bond values increase significantly – especially as investors have been buoyed by evidence of peaking inflation, anticipation that central banks are near the top, resilient growth and productivity enhancements via use of artificial intelligence. Recent weeks have been dominated by the political soap opera around the US debt ceiling. A deal has now been reached suspending the ceiling out to January 2025 with caps on spending. In addition, we have witnessed concerns around cost of living pressures along with increased borrowing costs for homeowners and businesses. Market volatility risks remain high, however, our house view of investing in well-diversified assets often including listed and unlisted vehicles is proving to be sensible. As we fast approach the end of the financial year, taxation planning is something many often neglect. Key areas where individuals may have the opportunity to optimise their position can include:
Consider making deductible super contributions,
If you’ve been working from home, look at claiming home office expenses,
Consider selling investments which may have fallen in value to offset realised gains on other investments,
Look to prepay deductible insurance premiums or loan interest,
If possible, consider deferring assessable income into the next financial year.
** Please be mindful if attempting the above on your own. It is always advisable to seek advice from a suitably qualified professional regarding your specific situation.
Scam Alert: Scams target people of all backgrounds, ages and income levels across Australia. There's no one group of people who are more likely to become a victim of a scam, all of us may be vulnerable to a scam at some time. Scams succeed because they look like the real thing and catch you off guard when you’re not expecting it. Scammers are getting smarter and taking advantage of new technology, new products or services and major events to create believable stories that will convince you to give them your money or personal details. What to look out for:
Know who you’re dealing with
Do not open suspicious texts or emails
Don’t respond to phone calls about your computer needing to be repaired via remote access
Keep your personal details secure
Keep your mobile devices and computers secure
Choose your passwords carefully
Beware of any requests for your details or money
Be wary of unusual payment requests
Be careful when shopping online
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