allen™ private wealth advice - blogspot

Dividends are a rich man’s greatest joy - Steven Allen quoted in AFR

2010-11-07T22:56:00.000-08:00

Please find below a link to an article by Philip Baker, columnist for the Australian Financial Review (Saturday 6 November – “Dividends are a rich man’s greatest joy”).

Philip called me for my opinion on whether I thought bank term deposits or bank shares are a better investment right now.

Click here to read the article

Minimum Pension - 50% discount for 2010/2011

2010-07-04T15:45:00.001-07:00

The Government announced yesterday that the 50% reduction to the minimum pension payment amounts for super pensions will be extended for the 2010/11 financial year.

This is good news for super pension members who wish to draw the lowest amount of pension. In particular, for clients undertaking “transition into retirement” pension strategies.

Click here for more info.

Spouse Super 2010

2010-05-26T00:24:00.001-07:00

Make a contribution into your spouse’s super fund before 30 June 2010 and you may qualify for a tax offset of up to $540.

The $540 tax offset is equivalent to receiving an 18% after-tax return (ie $540 tax offset divided by $3,000 spouse contribution) and is a very tax effective exercise.

Your spouse must earn an income of less than $13,800 for you to receive a tax offset.

Please read the attached Update for more information.

Super Co Contribution 2010

2010-05-25T22:48:00.001-07:00

If you make a personal super contribution before 30 June 2010 then you may receive a government funded Super Co-Contribution of up to $1,000.

You must earn an income of less than $61,920 to receive a Super Co-contribution.

Importantly, this is the first financial year that “reportable super” such as salary sacrifice and tax deductible super has been included in the definition of income.

Many of you who have previously qualified for Super Co-contributions will not be eligible for a Super Co-contribution this year!

Please read the attached Update for more information.

Budget 2010

2010-05-13T17:55:00.000-07:00

Despite the hype, the 2010 Federal Budget and response to Henry Tax Review have resulted in few significant structural changes to the tax, super and social security systems in Australia.

From a retirement planning perspective, the single most important change is the continuing of the $50,000 concessional super cap from 1 July 2012 for the over 50’s. However, only if you have a super balance under $500,000.

If you expect to approach the $500,000 limit in the next two years then start planning now.

Please find attached a 2010 Budget Update for your interest.

Please read the attached Update for more information.

Henry Tax Update

2010-05-04T00:52:00.000-07:00

The Government's response to the Henry Tax Review has just been released.

The 2 most important proposed changes to super are:

1. Increasing the Super Guarantee from 9% to 12% from 2013 to 2019
2. Maintaining the $50,000 concessional super contributions cap for over 50's

Both of these proposals are positive news for retirement planning and make for great headlines. However, there is devil in the detail.

Please read the attached Update for more information.

Steven Allen featured in Financial Planning magazine

2010-04-19T20:15:00.000-07:00

This article from Financial Planning magazine includes my opinions on the recent changes to superannuation.

FPA%20magazine%20apr10.pdf

Steven Allen featured in Newcastle Herald

2010-03-22T22:10:00.000-07:00

The Newcastle Herald has highlighted my recent awards in this Hunter Business article.Newcastle%20Herald%20March%202010.pdf

Steven Allen featured in Australian Financial Review

2010-03-14T22:17:00.000-07:00

Barrie Dunstan from the Australian Financial Review interviewed me after reading the the “Decade of Dividends” article from Retire Early 2010 (which can be downloaded from www.allenwealth.com.au).

The attached article was published in the Australian Financial Review(13/3/10).

Financial%20Review%20March10.pdf

Warren Buffett's 2010 Letter

2010-03-03T18:22:00.000-08:00

Warren Buffet is the second richest man in the world and the most successful investor in history. He is also the investor that I most admire. I have read about a dozen books on Warren's investment philosohpies. Each year Warren shares his wisdom through his annual letter to the shareholders of his company, Berkshire Hathaway. I have attached the letter in the link below. Happy reading.

Warren%20Buffet%202009%20letter.pdf

Schroders View on Aussie Shares

2010-01-26T22:44:00.001-08:00

Martin Conlon from Schroders outlook on Australian shares.

Schroders%20Australian%20Shares%20-%20The%20Future%20Outlook.pdf

China - a not so great story

2010-01-26T22:04:00.000-08:00

This is an interesting alternative view to the "stronger for longer" theory on China.

Chinas_Investment_China%20Boom_the_Great_Leap_into_the_Unknown.pdf

The Growth of Asia and Impact on Australia

2010-01-20T22:41:00.000-08:00

This was my favourite article from 2009. It gives you a great understanding of the importance of Asia as a trading partner to Australia. Written by a Reserve Banker it is a surprisingly fascinating and entertaining read. Happy reading.

Asia%20and%20Oz%20RBA%20speech%20nov09.pdf

PM Capital Quarterly Update

2010-01-20T22:23:00.000-08:00

Paul Moore writes one of the more informative and entertaining investment updates. He always includes some great historical graphs as well. This is the latest quarterly update. Happy Reading.PM%20CAPITAL%20December%202009%20Quarterly%20Report.pdf

Age Pension update

2009-10-01T00:08:00.000-07:00

Did you know that major changes were made to the Age Pension and now apply from 20 September 2009?

The Age Pension age of 65 is increasing, the Assets Test cut-out limits are higher, the Income test has been made tougher and all pensioners have received a pay-rise.

• Do you know your Age Pension age?
• Do you know how much the Age Pension is now worth?
• Most importantly do you know “How to plan NOW to maximise your Social Security entitlements in retirement?”

Allen Private Wealth Advice is pleased to attach an Age Pension update which includes details of the new rules and commentary on the opportunities available.
Click here to read 20%20Sept%20Age%20Pension%20Update.pdf

New Super Rules Update - 1 July 2009

2009-07-06T22:37:00.000-07:00

A number of new super rules proposed in the May Budget have now been passed into law and will apply from 1 July 2009.

Most importantly the maximum super contribution caps for salary sacrifice have been halved and there are penalty taxes for exceeding the caps. Please read the attached update on the new super rules which provides commentary on potential traps (there are many) + tips on potential opportunities.

Read the July_1 2009_Super Update article here.

Kind regards, Steven

Guide to the May 2009 Federal Budget

2009-05-12T18:09:00.000-07:00

The biggest news from the Budget is the proposed reduction of the maximum pre-tax super limits from 1 July 2009. For the over 50's the maximum $100k reduces to $50k and for the under 50's the maximum $50k reduces to $25k.

I hope these proposals do NOT pass into law as to my mind they are disincentive to a self funded retirement.

Attached is our Guide to the Federal Budget with all of the major changes. Please e-mail me at steven.allen@allenwealth.com.au if you have any questions.

regards, Steven

Budget_2009_Allen_Private_Wealth_Advice.doc

Brian Parker Presentation - Where are we at?

2009-03-31T23:36:00.000-07:00

This is the latest presentation from Brian Parker, the Chief Investment Strategist at MLC. There are some very interesting slides in there.
mlc_brianparker_mar09.pdf

Day 12 - Finals Day of Surfest

2009-03-22T21:52:00.001-07:00

Save the best for last. The nicest day with the biggest waves (up to 3 foot!) greeted the finals day. Big crowds turned out for a beautiful beach day. Winners were Phillippa Anderson of Merewether and Travis Logie of South Africa. Check out the photos below.

Day 9 of Surfest

2009-03-18T19:38:00.000-07:00

Beautiful picture-perfect day with small and clean waves. For the contest it is a wave-lottery. Whoever has priority and lucks out when the sets comes through is best chance of winning their heat. Went down this morning to watch Paul Parkes get knocked out this way. Devastating. Check out the photos from Paul's heat below.

Day 8 of Surfest

2009-03-17T19:40:00.000-07:00

The biggest day of Surfest so far. A solid 3 foot! The swell has had a jump over night and it is another picture perfect day in Merewether. See photos below.

Day 7 of Surfest

2009-03-16T16:53:00.000-07:00

A beautiful beach day. The sun is out and the water is looking very blue. The small Merewether Point rights continue to come through and today it is the longboarders turn. Check out the photos below.

Day 6 of Surfest

2009-03-15T21:57:00.000-07:00

The day started cold and miserable as you will see from the photos below. However, the sun came out mid morning and the waves at Merwether have continued to consistently come through. Once again not great waves but probably still the best waves in Newcastle today.

Day 5 of Surfest

2009-03-15T21:37:00.001-07:00

Sunday was a beautiful day weather-wise. The sun was out and there was a small but very rideable wave at South Bar. With only four in the water it was probably the best bank in all of Newcastle and good fun for the grommets to contest the Cadet Cup.

Day 3 of Surfest

2009-03-12T18:50:00.001-07:00

Nice 2-3 footers this morning with clean waves coming through consistently all day.

Day 2 of Surfest

2009-03-11T18:31:00.000-07:00

The junior surfers are in the water today. Surf isn't as good as hoped for, however, there is a nice little right shorebreak and the grommets are impressing.

The wind has dropped off, the waves are cleaner and right now the sun has even broken through. Not a bad day at all. I have posted some photos from earlier this morning.

cheers, Steven

more photos

2009-03-10T20:48:00.000-07:00

Day 1 of Surfest

2009-03-10T18:13:00.000-07:00

The surf conditions for the first day of Surfest can only be described as miserable. If there wasn't a contest on there would be no-one out. I felt sorry for the lonely guy manning the snow cone stand. He will be in for a long day.

The good news is that a new swell is supposed to arrive tomorrow and we should have larger, cleaner waves for the next few days. I have posted some photos of day one.

cheers, Steven

2008-10-03T02:57:00.001-07:00

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