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Market Update – Presented by Shane Oliver AMP Chief Economist

We regularly meet with best of breed fund managers to review, analyse and authenticate their offering with the view to building quality portfolios for our clients. On a quarterly basis we select one of our fund managers to provide a quarterly update for our clients. Following the end of the quarter we asked Allan Evans from Magellan to provide an economic update on the past quarter. McQueen Financial Group is a corporate authorised representative of Total Financial Solutions Limited. AFSL No. 224 954, ABN 94 003 771 579 This information is of a general nature only and does not take

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First Home Super Saver (FHSS) Scheme

To assist first home buyers in entering the property market, the Government announced the First Home Super Saver (FHSS) Scheme in the 2017 Federal Budget. As of 13 December 2017, this scheme was legislated and became law. Through this scheme, first home buyers are encouraged to use superannuation as another form of maximising their savings to secure the purchase of their first home.   What is the FHSS scheme? From 1 July 2017, first home buyers could begin making voluntary concessional (before tax) and non-concessional (after tax) contributions into super for the purpose of purchasing their first home. You can

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Mortgages: Lock In Certainty, Or Roll The Dice On Savings?

Over the last few years, interest rates have dropped dramatically. They’re now around a quarter of what they were a decade ago, and half of what they were just a few years ago. The Reserve Bank’s decision to leave rates on hold has got some economists and commentators talking; could it be time for a rate rise soon? Nobody knows exactly when (or even if) the Reserve Bank will raise interest rates again. The good news, however, is that you’ve got a choice that allows you to hedge your bets. Whether you’re establishing a new mortgage or switching from an

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Self-Managed Superannuation Funds (SMSFs) and Limited Resourse Borrowing Arrangements

  Since late 2007, a Self-Managed Superannuation Fund (“SMSF” or “Fund”) has been allowed to borrow money for investment purposes following the introduction of an additional exception to the general borrowing prohibition – one that continues to exist under superannuation law. This additional exception to the borrowing prohibition is provided in the form of a limited recourse type of borrowing. In essence, the relevant asset is held on trust to provide limited security for the outstanding loan, but the benefits of the ownership (such as rent or dividends) flow directly to the Fund. If the Fund defaults on the loan,

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