Virtue & Partners Latest News

It is important that we are on top of current events in our world and how they can affect markets and economies - both local and abroad

Enjoy the latest from the Virtue & Partners news desk.

Excess TBC issues surfacing with reduced pension account values

The ATO has expressed concern that some trustees with diminished pension account values may be putting themselves at risk of exceeding their transfer balance cap by commuting their pension and then topping it back up.  
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The Bond Market.

  2020, a year that will be marked in history by a pandemic that had devastating effects on global health and economic activity to individuals and nations across the world.  
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Treasury underestimates early super by $15bn

  The government now expects around $42 billion to be removed from the super system as a result of the early release scheme, having revised up its initial estimates of $27 billion at the start of the scheme.  
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JobKeeper Phase 2

  The Government has decided to extend a lower JobKeeper for a further six months (13 fortnights) from 28 September this year, with eligibility based on actual rather than projected turnover declines.  
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COVID-19 resources -Update July 2020

  Several new links have been added to the many already in this article, links that date back to the beginning of the COVID-19 pandemic.  If you have any questions, or require further assistance, please send us an email or phone.  
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Important Single Touch Payroll Update

Single Touch Payroll (STP) and Annual PAYG Payment Summaries – a reminder to both employers and employees.
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‘But how will we pay for this?’

  It's a natural question about global policymakers' multitrillion-dollar efforts to prop up economies and markets against the monumental threat of the COVID-19 pandemic. And the question has understandably taken a back seat to confronting immediate health and welfare challenges.  
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SMSFs urged to review leases before granting rent relief

  SMSF clients planning to provide rent reductions to tenants should review the lease agreement to ensure the provision of rent relief won’t result in a breach of the lease, says an industry lawyer.  
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ATO busts tax time 2020 myths

  The ATO has issued a list of tax-time myths, warning taxpayers that get-rich-quick schemes will only slow down returns.  
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New financial year to bring new rules for super

  As the 2019–20 financial year draws to a close, a technical expert has highlighted some of the new rules commencing for super funds for the 2020–21 financial year.  
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Extra Tools & Resources for our clients.

  Over time we have supplied our clients with a growing collection of tools and resources to help in areas such as COVID-19 relief updates, articles on tax changes and updates, articles to help understand economic changes, calculators for all financial needs, and videos to help you and your family learn more about financial matters.  We hope you enjoy these 'extras' and if you have any question then simply ask. *  
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Ways to outsmart your cognitive biases

  As markets continue to be wax and wane due to ongoing coronavirus fears and subdued employment and economic recovery numbers, it seems timely to remind ourselves of the types of behavioural and emotional biases that could lead to potentially risky investment behaviour, and how you can avoid them.  
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As I See It is a regular video and news update from Dr Tony Virtue discussing the most recent developments in the financial and economic markets