Genus Wealth in Nelson Bay, New South Wales | Financial service

Genus Wealth

Locality: Nelson Bay, New South Wales

Phone: +61 2 4052 2999

Address: 12B Teramby Rd 2315 Nelson Bay, NSW, Australia

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

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22.01.2022 Over the weekend, the Australian Government announced its economic support package to help Australians who are under financial stress as a result of the Coronavirus. Two of the support measures announced include the early release of superannuation for those financially affected by the Coronavirus and a temporary reduction of minimum pension payment requirements for retirees. Please note the exact timing of these measures will depend on the passage of the relevant legislation.... Early release of super: The announcement proposes that from mid-April, eligible Australians will be able to withdraw up to $10,000 of their superannuation in 2019-20, plus a further $10,000 in 2020-21. These payments are tax-free and will not affect any Centrelink or Veterans’ Affairs payments. Who is eligible? Members must satisfy any one or more of the following requirements: are unemployed; or are eligible to receive a job seeker payment, youth allowance for jobseekers, parenting payment, special benefit or farm household allowance; or on or after 1 January 2020: - were made redundant; or - working hours were reduced by 20% or more; or - are a sole trader, their business was suspended or there was a reduction in turnover of 20% or more. Temporary reduction of minimum pension payments: To provide retirees with more flexibility in managing their retirement incomes, the Government has announced it is reducing the minimum pension payment requirement for account based pensions and similar products by 50% in both 2019-20 and 2020-21. This allows a retiree to retain a larger portion of their superannuation pension funds invested, rather than being forced to withdraw these funds at a time the investments are reporting significantly reduced performance.

18.01.2022 We are very excited to announce that Lena and her husband Jesse, welcomed the birth of their daughter yesterday morning. Alice Rosemary Peel was born at 2.02am yesterday morning, weighing 3.3kg. Mum and Bub are both doing well. Congratulations Lena and Jesse!

05.01.2022 Introducing Genus Wealth! We are excited to announce that as of 1 January 2020 we have changed our name from Addison Partners Financial Planning to Genus Wealth. Roy Massey, Director and Financial Advisor of Addison Partners Financial Planning has increased his ownership in the business. As part of the business transaction came the name change. For us and our clients it is business as usual. Our office location, on the marina at Nelson Bay, along with our phone number (02 4052 2999) will all remain unchanged. We now just have a fresh new look!

04.01.2022 As most of you would be aware, the sharemarket has taken a sharp drop last week, due to fears surrounding the Coronavirus. Prior to the start of business last Thursday, the Dow Jones index of US shares was sitting at 29,348. Just 6 business days later, and the Dow Jones is now at 25,766, a drop of over 12%. The Australian market has followed suit, and is now down over 10% from its high point set earlier this month. There is no shortage of articles relating to the Coronavirus and the effect it is having on the sharemarket. Unfortunately a lot of these articles will be simply trying to generate headlines. Below is a link to an article from our research house we have received recently, which we believe is worth a read. Further useful articles will posted to keep you up to date with the Coronavirus market impacts.