Edition No. 3 | 17 July 2014

Happy 1st Birthday!

Welcome to our 1^st Birthday edition of the MaKe Financial Decisions newsletter. In celebration of our 1^st year in operation this month we are excited to announce the launch of our new website www.makefd.com.au. If you have a spare moment click on the link and have a browse through the site.

In this edition, we focus on the end of the Financial Year by reviewing the year just gone as well as a market update. We also take a look at what you need to address when submitting your tax return and encourage you to look at the 2014 Federal Budget summary which came out in May and how it might impact you. Given the start of the new financial year we look at Financial Organisation and offer tips on what areas you should be addressing to ensure your financial health is up to date.

We hope you enjoy the variety in this collection of articles in this edition.

Brian Parker, a Senior Investment Consultant at MLC Investment Management, reviews the 2014 Financial Year from an Australian and International perspective.

We have also included a summary from the 2014 Federal Budget announced in May. These are listed in dot point form so please have a look to see how these might affect you in the future. A detailed document and video can also be accessed through this article.

As the Financial Year has finished, we all have to focus on submitting our tax returns – I have included an article outlining some matters you should consider when preparing to submit your tax return.

In light of the new financial year commencing I encourage you to review your financial health and challenge you to set yourself goals in these areas. It is important you are aware of your current situation, how you are prepared for the unexpected, and have you addressed all areas of your financial health?

Also included is a short article on Unclaimed Bond Money. If you or anyone you know are renting or have rented in the past, you might be entitled to a refund of some bond money.

The ThreeSixty Research Market update for July provides a brief economic and market update on events happening around the world.

To finish off, we have included some quirky queries for some light entertainment.

If you would like to talk about these issues or any other topic, please give us a call. In the meantime, we hope you enjoy reading this newsletter and visiting our new website.

Warm regards,

Mary Kelly

Financial Planner

MaKe Financial Decisions Pty Ltd

Corporate Authorised Representatives of

MLC Financial Planning

ABN 96 002 071 749

Australian Financial Services Licensee

2014 financial year in review

The last 12 months have produced excellent returns, particularly for share investors. This was despite a range of challenges and crises, both economic and geopolitical, which unsettled financial markets. Read More

Federal Budget 2014 summary

In one of the more highly anticipated Federal Budgets, the Government announced major changes that could impact your financial plans.

Key proposals include:

A Temporary Budget Repair Levy of 2% will be payable on taxable incomes over $180,000 pa for the next three financial years.
Changes to HELP debts will increase the amount payable, and payments may need to be made at lower income levels.
The Dependent Spouse and Mature Age Worker Tax Offsets will be abolished from 1 July 2014.
People who make non-concessional (after-tax) super contributions from 1 July 2013 that exceed the cap will have the option to withdraw the excess amount plus earnings on the excess.
The timeframe for increasing the Superannuation Guarantee contribution rate to 12% will be amended.
The Age Pension age will gradually increase to 70.
A range of changes to Family Tax Benefit – Part A and B will reduce the number of people who are eligible and, for some, lower the entitlements.
The Commonwealth Seniors Health Card thresholds will be indexed from 20 September 2014 and the definition of income will be expanded.

Read and view the 2014 Federal Budget summary:

Download the full analysis 2014 Federal Budget

Federal Budget 2014 summary, Watch the video

5 ways to make tax time easier

Most of us don’t look forward to tax time. But it doesn’t have to be difficult. By getting organised early, you can save time, claim all the deductions you’re entitled to — and even get your return paid faster.

Today is the day to: stop, take stock and tackle your finances head on.

Is it always tomorrow, next week, next month or next year that you’re going to get your finances in order? It’s important to get on track as soon as possible. Here are some important things to take into consideration.

Are you owed unclaimed bond money

Are you renting or have you rented in the past? Chances are you might be owed some bond money.

Highlight:

Continued improvement in US economic growth following a revised down Q1 GDP of -2.9%.
European economic data impacted by the Iraq civil war crisis.
Chinese economy stabilising, with manufacturing data at a six month high.
Australian economic data suggests interest rates will be on hold well into 2015.

Quirky Queries

Why is it that if someone tells you that there are 1 billion stars in the universe you will believe them, but if they tell you a wall has wet paint you will have to touch it to be sure?

In this edition

	2014 financial year in review
	Federal Budget 2014 summary
	5 ways to make tax time easier
	Financial health
	Are you owed unclaimed bond money
	ThreeSixty Research Market Update July 2014
	Quirky Queries

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MaKe Financial Decisions Pty Ltd trading as MaKe Financial Decisions is a Corporate Authorised Representative of GWM Adviser Services Limited ABN 96 002 071 749, trading as MLC Financial Planning an Australian Financial Services Licensee,

Registered office at 105 –153 Miller St North Sydney NSW 2060 and a member of the National Australia group of companies.

Any advice in this publication is of a general nature only and has not been tailored to your personal circumstances. Please seek personal advice prior to acting on this information.

The information in this document reflects our understanding of existing legislation, proposed legislation, rulings etc as at the date of issue. In some cases the information has been provided to us by third parties. While it is believed the information is accurate and reliable, this is not guaranteed in any way.