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 further in April amidst optimism at global
economic recovery and rising energy and commodity prices.
• Vaccine rollout continued to be a major focus with further potential
US government stimulus a notable highlight.
• Bond yields stabilised following March quarter weakness as the
pandemic escalated in the likes of Japan and India.
• The Global Composite PMI (a useful leading indicator of global
economic growth) climbed to an eleven-year high led by the US and
UK (Brazil being the only country to signal weaker activity)
The COVID-19 pandemic remains a
major feature on the global stage,
although global economic recovery
continues, with the JP Morgan
Markit Global Composite PMI
Inflation news has been mixed. If we
focus on the US, businesses were still
affected by restrictions on movement
with stronger demand for goods
following last year’s lockdowns driving
prices higher. However, the effect of
more permanent triggers on inflation
such as rising wages are not yet clear.
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.