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With an underlying deficit of $57.6 billion and the Government not expecting to see a return to surplus until 2015/16, this year’s Federal Budget focused on stimulating the economy and protecting jobs.
The budget includes a number of changes to taxation, superannuation and government pension benefits. Key changes include:
Reducing superannuation salary sacrifice concessions from 1 July 2009.
If you feel a little shell shocked after 2008, you can be assured that you are not the only one. Investors and professionals the world over have mourned large portfolio losses in 2008.
Whether you invested in Aussie equities, international equities or property, it is likely that you have seen your investments fall in value.
Rubbing salt in to the wound was the financial instability of the banking system which held our deposits. Governments around the world acted quickly
2008 – A planner’s perspective
8 Observations from 2008
Andrew Reeve-Parker,
Director of NW Advice offers his insight into the key takeouts from 2008
1. Diversification continues to work
2008 was a difficult year for growth assets such as property and equities (both domestic and global). It was however, a great year for government bonds, cash & managed futures. Before you allocate 100% of your portfolio to cash, it is prudent to remember that it