First Avenue Wealth in Mitcham, Victoria | Financial service

First Avenue Wealth

Locality: Mitcham, Victoria

Phone: +61 3 9874 5511

Address: 2/630 Mitcham Rd 3132 Mitcham, Victoria, VIC, Australia

Website: http://www.firstavenuewealth.com.au

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25.01.2022 This is why we do what we do

23.01.2022 The Reserve Bank Board met yesterday and agreed to a comprehensive package to support the Australian economy through the current challenging period. The package comprises four elements, namely: a reduction in the cash rate to 0.25 per cent; a target of 0.25 per cent for the yield on 3-year government bonds; a term facility to support credit to businesses, particularly small and medium-sized businesses;... and an adjustment to the interest rate on accounts that financial institutions hold at the Reserve Bank. See more

23.01.2022 After period of optimism, global investment markets have hit the panic button on fears about the possible economic impact of the coronavirus (COVID-19). At times like these, its good to get some perspective. Read more: http://firstavenuewealth.com.au//hold-on-bumpy-markets-ah/

23.01.2022 Wishing you all a Happy Easter We know it may be different but we hope it's still a special day with your family. Take care xx

22.01.2022 JOBKEEPER Below is a link to an article on our website, we have written based on what we know. This will provide you with an overview of the payment, eligibility and how it will work. Note this applies to everyone in business, whether you are a sole trader, trust, company or partnership. Whether you pay wages to yourselves, or dont. We also want to let you know that we can assist with any stages of this process where needed. The most important step to be eligible is det...ermining your reduction in turnover. Read more: http://firstavenuewealth.com.au/2020/04/jobkeeper-stimulus/

22.01.2022 Some great statistics in relation to housing trends over the past 40 years. Worth a read. http://yourloanhub.com.au/2019/01/house-4-decades-of-change/

21.01.2022 The financial year has ended. It's time to look back at how far you have come. #EOFY

21.01.2022 #BREAKING: The RBA has cut official interest rates by 0.25 percentage points to a new record low of 1 per cent, in the second consecutive cut in a month. https://www.afr.com//rba-cuts-rates-to-record-low-1pc-2019

21.01.2022 In a rapidly evolving response to the spread of COVID-19, the Federal Governments second support package announced over the weekend has flicked the switch to more income support for retirees and workers. What does it mean for you? Read more: http://firstavenuewealth.com.au//coronavirus-safety-net-e/

21.01.2022 CASUAL WORKERS AND ANNUAL LEAVE News headlines recently stated that casual workers have won the right to paid leave following a decision in the Federal Court. As usual, the devil is in the detail. At present, there is no global change granting Australian casual workers paid leave. The case however, highlights the long running problem of determining over time, who is a permanent staff member and entitled to paid leave and other benefits, and who is a casual worker entitled to ...a casual loading. Read more: http://firstavenuewealth.com.au//have-casual-workers-been/

20.01.2022 New Blog Post: Living with adult children! Many of our clients have their adult children living with them. If managed well, multigenerational living can be beneficial to both your adult kids financial goals and your relationship with them, that said its not without its challenges. Read more - http://firstavenuewealth.com.au//the-full-nest-living-wit/

20.01.2022 BREAKING: The Reserve Bank of Australia (RBA) has cut official interest rates to 0.75 per cent, bringing the cash rate to an unprecedented low amid rising concerns about the state of the economy. https://www.theage.com.au//rba-cuts-interest-rates-to-hist

17.01.2022 New on the blog - If five golden rings and a whole menagerie of birds sounds like it might blow the budget this year, then perhaps the classic carol needs a rewrite. Thats why weve put together a list of hot tips to make the gift-giving season a breeze without scorching a hole in your hip pocket. Read more: http://firstavenuewealth.com.au/20//12-tips-for-christmas/

16.01.2022 The health and safety of our team, our clients and the community has remained our first priority throughout the COVID-19 crisis. In line with the Victorian government’s latest COVID-19 restrictions, our office will close for at least six weeks. It is however still business as usual for First Avenue Wealth as we are all able to work from home during this period. Our contact details remain the same, so if you need anything please get in touch. Phone: 03 9874 5511... Thank you for your ongoing support and please keep safe. Let's do this Victoria!

16.01.2022 New blog post: If both your first and last task of the day is to check your emails, youre not alone. Contemporary work culture, spurred on by advances in technology, has meant that we are expected to always be on. Gone are the days of the 9-5. Many of us work at all hours, possibly even holding down side gigs, and thats before we take into account the labour we perform in other areas of our lives.... http://firstavenuewealth.com.au//working-together-to-comb/

15.01.2022 Laundry expenses hung out to dry. This year the ATO is airing the dirty laundry on work-related clothing and laundry expenses warning that it is closely reviewing claims. Last year around 6 million people claimed work-related clothing and laundry expenses, with total claims adding up to nearly $1.8 billion. While many of these claims will be legitimate, we dont think that half of all taxpayers would have been required to wear uniforms, protective clothing, or occupation-...specific clothing, Assistant Commissioner Kath Anderson said. Clothing claims are up nearly 20% over the last five years and the ATO believes taxpayers are making common mistakes and errors like claiming ineligible clothing, claiming for something without having spent the money, and not being able to explain the basis for how the claim was calculated. In some cases, the ATO will ask employers if they require their employees to wear a uniform to check the validity of claims made. If you are unsure, speak with us.

15.01.2022 How we roll these days! #workfromhome #staysafe

13.01.2022 "Keep looking up, that's the secret of life." - Snoopy

13.01.2022 That feeling you get when you're handed the keys.... we can help make it happen! #dreamplanachieve

13.01.2022 It's Financial Planning Week 2019! We have a money fact for you. 'Gifts that Give' Did you know that the average amount people spend on a wedding gift is $137? And 36% of Brides and Grooms prefer cash presents!

12.01.2022 Please know that we are here. For our clients, business accociates, friends, staff, family members and neighbours. If you are worrying at all about what is going on, worrying about the impact on your finances, worried about what is around the corner, or if you are just worried, we are here to help in any way we can. We are now able to take calls via video, you can still email us, and if you still want to see us that is fine too. We are taking government guidelines seriously... and have implemented some strict social distancing and hygiene practises within the office. We are here for you.

11.01.2022 The RBA has held the official cash rate at 1.0% - its lowest level in Australian history. The RBAs recent decisions have prompted plenty of movement in interest rates amongst the big lenders. Some have passed on sizeable reductions in variable rates, while others have been slammed for not passing on the full rate cuts. Make sure you are taking advantage of the reductions - talk to us about your mortgage.

11.01.2022 Whether you plan to borrow or pump up your income, falling interest rates can offer opportunities and challenges. If you would like to discuss the impact of lower rates on your investment strategy, give us a call. New on blog: http://firstavenuewealth.com.au//making-the-most-of-falli/

11.01.2022 NEW POST: Are you currently planning your next escape? Here are some suggestions on how to maximise your travel budget and have a memorable holiday. Read more - http://firstavenuewealth.com.au//stretching-your-travel-b/

10.01.2022 New on the blog: JobKeeper: the Next Steps. What clients need to do if they are no longer eligible for JobKeeper, and the alternative tests and issues for those seeking to claim JobKeeper payments from 28 September 2020. http://firstavenuewealth.com.au//10/jobkeeper-the-next-st/

10.01.2022 It's going to be a chilly weekend. Stay warm everyone.

10.01.2022 SPRING CLEANING: Time to clean the dust off your financial plan? Get in touch. #dreamplanachieve

09.01.2022 Weirdest tax deductions revealed! Would you claim the Lego you bought for your kids throughout the year as a tax deduction? One taxpayer did and it made the Australian Taxation Offices 2018-19 list of most unusual claims. The Lego was not the only claim for money spent on kids. Another taxpayer claimed their childrens sports equipment and sporting membership fees. Others claimed school uniforms, and before and after school care. And, others claimed, the cost of raising tw...ins, the cost of raising three children and simply, New born baby expensive. Yes indeed, but the expenses, while often shocking to parents, are not deductible. Cars were also a favourite. The ATO says that many taxpayers tried to claim the full purchase price of their new cars as a tax deduction. This included the taxpayer who claimed the cost of the new car he bought for his mother as a gift. Nice gesture but still not deductible. Medical and dental expenses also featured heavily. The most striking was the couple that claimed the cost of their dental expenses, believing a nice smile was essential to finding a job. Medical and dental expenses, in general, are personal expenses and not deductible. Also making the list was the couple who claimed the cost of their wedding reception as a tax deduction. The unusual claims all came from the Other deductions section of the tax return. In order to claim an other deduction, the expenses must be directly related to earning income and you need to have a receipt or record of the expense. If your expense relates to your employment, it should be claimed at the work-related expenses section of the return.

08.01.2022 Australians spend almost $20 billion on gifts each year and 73% of us don't budget for this. Do you have a budget for your gift giving?

06.01.2022 Taxes are no fun

05.01.2022 ON THE BLOG: Rental property expenses - what you can and can't claim. Its not uncommon for landlords to be confused about what they can and cant claim for their rental properties. What often seems to make perfect sense in the real world does not always make sense for the Australian Tax Office (ATO). In general, deductions can only be claimed if they were incurred in the period that you rented the property or during the period the property was genuinely available for rent.... Read more: http://firstavenuewealth.com.au//rental-property-expenses/ #dreamplanachieve

04.01.2022 Treasurer Josh Frydenberg has delivered one of the most important Federal Budgets in living memory. What will it mean for you? We will have a full analysis tomorrow morning.

04.01.2022 Coronavirus Update Remain calm when fear is high: We will see the other side of this crisis and it will involve monetary policy rates at record lows along with expansive fiscal policy. Ultimately this will be a powerful cocktail for risk assets, but the road will be rocky before we get there. In the short term we recommend a number of strategies for the current environment:... 1. Stay Diversified: This is a time to ensure that portfolios remain diversified and remember that the key to taking advantage of long-term capital growth in asset classes like equities is combine them with safe- haven assets like sovereign bonds, gold and other uncorrelated assets. A long-term asset allocation blends defensive and growth assets in order to dampen the volatility associated with equities. 2. Dont try and time the market. Stay invested. History shows equities tend to bounce back strongly from sudden drawdown events. The last three decades of returns show the strongest multi-year returns follow the sharpest one-day declines. In recent decades equity markets have seen a multitude of large one-day declines (Black Monday, Dotcom bust, 9/11, GFC, Euro crisis etc) and in each case equities have bounced back strongly in the years that followed. Staying the course in equities, despite how uncomfortable it may feel right now, is likely to prove the best option when looking back 1 or 5 years from now. 3. Raise defensive exposure/quality of assets. For risk averse investors who cannot take capital losses or rising volatility. They may want to raise exposure to fixed income and/or high-quality stocks. Quality stocks and bonds have characteristics that provide investors greater assurance that dividends and coupons will be paid, regardless of the state of the market or business cycle. These characteristics include a strong balance sheet with low financial leverage, low operating leverage, stable revenues and a strong franchise with high barriers to entry. 4. Increase exposure to Safe havens: Safe haven assets are those that have little correlation with equities or bonds and can perform counter cyclically in more serious economic downturns. Safe haven assets can include precious metals like gold and certain absolute return and hedge fund strategies 5. Use weakness to add to structural long term thematics. This includes infrastructure, healthcare (aging demographic) and technology (software, cloud, security)

03.01.2022 Gotta love an EOFY celebration. We had a lovely team lunch to say thanks for another year of hard work. #eofy Thanks also to Wendy for decorating the table.

02.01.2022 #Frozen 2 is out this week Did you know that Arendelle was inspired by the country of Norway? There are 3,793 people who were born in Norway, but *let it go* to come to Australia...

02.01.2022 WIN a $200 gift voucher to Village Gold Class Cinemas. Can you guess what the All Ords will finish at in 2020. Click http://firstavenuewealth.com.au/competition to get your guess in! Currently, the All Ords are sitting at 7,071.00... Sam's prediction is 5988.00 Jared's prediction is 7,614.80 Harro's prediction 7,250.00 Steve's prediction is 6850.00 Entries close on Monday Feb 28th.

01.01.2022 How do you like to be celebrated on your special birthdays? A recent study found that 61% of us like to receive "Quality Time".