The team at Required can help you take the right steps towards the financial future you want.
Established in 1991, Required Financial Services provides a comprehensive range of personal and business services. Our team has extensive experience in many aspects of wealth management, lending and risk insurance. This means we are well placed to provide our clients with comprehensive financial services and solutions.
• Share markets rose on balance in February which belied a tough
week to end the month following sharp rises in bond yields.
• Vaccine rollout continued to be a major focus with heightened
anticipation of US government stimulus also a highlight.
• Both were factors helping drive a selloff in bonds as investors
sought out assets that would benefit from the expected global
economic recovery this year.
• The Global Composite PMI (a useful leading indicator of global
economic growth rose to a four-month high led by the USA.
Since December 2020, the world
has embarked upon a mass effort
to vaccinate against the Coronavirus
pandemic. The leading solutions have
been produced by joint ventures led
by Pfizer, Moderna and AstraZeneca
respectively. Israel and the UAE are
amongst the leaders on a per-person
basis with Israel reportedly beginning
to see a decline in severity and mortality
rates amongst its elderly citizens.
Australia is employing a mix of both
the Pfizer and AstraZeneca vaccine,
with priority going to frontline staff and
vulnerable groups such as the elderly.
The vaccine rollout will reduce the risk of
further lockdowns and allow the world to
get closer to a “pre-Coronavirus” state.
We’ve summarised some of the key points from the Budget below but, remember, these are subject to the passing of legislation:
• From 1 July 2022, if you’re aged 67 to 74 you will not be required to meet the work test to make non-concessional contributions and salary sacrifice contributions to super
• From 1 July 2022, you can make downsizer super contributions if you’re age 60 and over (currently you need to be age 65 or over).
• From 1 July 2022, if you’re a first home buyer you can release up to $50,000 (up from $30,000) from your voluntary super contributions to help you buy your first home.
• The low and middle-income tax offset is to extend to the 2021/22 financial year with a maximum offset of up to $1,080 for individuals or $2,160 for a couple.
• Additional support for elderly Australians requiring care either within the home or in a residential aged care facility.