February 2014 - Watkins Financial Services

New regulations will be implemented from 1 July 2014, prohibiting someone from applying for insurance inside superannuation that does not meet the superannuation (SIS) conditions of release. What does this mean? Going forward you will not be able to fund TraumContinue Reading...

For those of you who pay your credit cards late you’ve been warned. From 12 March 2014 Australia will introduce a new credit rating regime. Individuals will now be rated similar to companies, which banks and other lending facilities can use a quick referenceContinue Reading...

From 1 July 2012, persons with “income” exceeding $300,000 are subject to an additional 15% tax on any “taxable contributions”. So let’s have a look at what income means? Income is taxable income (including the net amount on which Family Trust distriContinue Reading...

Legislation allowing Self Managed Super Funds (SMSFs) to borrow has encouraged a growing number of SMSFs to use borrowed money to gear into property, both commercial and residential, via a limited recourse borrowing arrangement (LRB). Limited recourse essentiaContinue Reading...

On the 20th of November 2013 the Government introduced a Bill to Parliament to change how the income from a super fund pension is assessed. Currently anyone on the Age Pension and withdrawing an Income Stream from their super fund has this income stream concesContinue Reading...