Gold Vision Finance in Perth, Western Australia | Shopping & retail

Gold Vision Finance

Locality: Perth, Western Australia

Phone: +61 414 291 467

Address: Unit 9 No 3 Bishop St 6062 Perth, WA, Australia

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

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25.01.2022 Something Positive for those who need repayment relief. You should only defer payments as a last resort. Remember the interest is added on to your loan still. Hopefully they will also be more flexiable in restructuring your loan too - Feel Free to PM if you need help in any way. https://7news.com.au//banks-give-borrowers-struggling-due-

24.01.2022 COVID19 Government stimulus package: reducing pension minimum In response to Covid-19, the Government has announced measures to help minimise the economic impact. One such measure is a temporary 50% reduction to the required minimum annual withdrawal amounts from some pension products including Allocated and Term Allocated Pensions, as reflected below. The new minimums can be accessed during the 2019/20 and 2020/21 financial years.... Age Default minimum drawdown rates Reduced by 50% Under 65 4% 2% 65-74 5% 2.5% 75-79 6% 3% 80-84 7% 3.5% 85-89 9% 4.5% 90-94 11% 5.5% 95 and older 14% 7%

23.01.2022 Breaking News ! Liberal Government announces First Home Loan Deposit Scheme so you only need a 5 % Deposit and DO NOT have to pay Lenders Mortgage Insurance anymore ! Wow what a game changer for those wishing to get into their first home ! Feel free to join our New Group to help you get into a Home! Liberal party announcement below:...Continue reading

22.01.2022 Happy Easter everyone. Woke up to a note from Easter Bunny .. Dear J & G Sorry but only 2 Choc Easter Bunnies allowed due to isolation rules! Love EB !

22.01.2022 $ 25,000 Home Builder Grant announced for renovations and new builds ! This is in addition to grants and discounts offered by the States! This is open to those who have owned homes before as well :-) https://www.abc.net.au//government-coronavirus-co/12317786

22.01.2022 At a historical Meeting RBA has again reduced the cash rate to 0.25 % an all time low ! Whilst this is good news for those wishing to borrow or those with a mortgage - it is bad for retirees trying to live off savings. CBA has already stated they will not pass on the rate cut on their variable rate loans but will lower business and fixed rate loans !!! https://www.skynews.com.au/details/_6142741935001

21.01.2022 https://www.canberratimes.com.au//rent-relief-for-virus-a/

21.01.2022 Reserve Bank of Australia leaves the cash rate at 0.25 % meaning no move in Interest rates ! It is now predicted by many that they will reduce rates by 0.15 % in November. A number of banks over the past 2 months have already lowered their Variable rates by 0.10 % !! Fixed rates remain low as well. So wait and see what happens next month then !... If you need help with home finance simply PM !

21.01.2022 Job Keeper - Please contact your tax agent / Accountant on this as many of late do not believe they qualify for it when they do. You need to believe that your business will suffer a downturn or has suffered a downturn of 30 % in trade turnover. Good news you now only have to qualify once for it ! https://www.smsfadviser.com//18774-businesses-qualifying-f

19.01.2022 Buying a Retirement property in a SMSF - You need to ensure it meets the sole purpose test ! See below ... While it may seem advantageous to purchase a retirement property through an SMSF, SMSF clients need to be very careful these types of transactions don’t breach the sole purpose test. ... In an online article, Townsends Business & Corporate Lawyers solicitor Elizabeth Wang said some SMSF trustees are attracted to the idea of acquiring a property through their SMSF and leasing it to an unrelated third party at market value until they reach their preservation age and retire as a condition of release. Ms Wang explained that SMSF Ruling 2008/2 provides that an SMSF may only be maintained for the sole purpose of providing retirement benefits to the members, or to their dependants if a member dies before retirement. It also provides that in determining whether an SMSF has satisfied the ‘sole purpose’ test, one must consider all the facts and circumstances surrounding the trustee’s behaviour in relation to the acquisition of the property, she stressed. For example, if the trustee invests in a property where there is significant likelihood that the investment in the property will not increase any return for the SMSF, and the trustee simply purchased the property because the members always dreamed of retiring to a lovely coastal home, then the ATO may take a sceptical view and rule the transaction a breach of the sole purpose test. On the other hand, Ms Wang clarified that if the trustee has supporting documentation such as valuation reports which show that the investment property is likely to provide an increase in return for the SMSF, then the sole purpose test may be satisfied, notwithstanding the ancillary purpose. Ms Wang reminded SMSF trustees that an SMSF will fail to meet the sole purpose test if the SMSF provides a pre-retirement benefit to a member of the SMSF. For example, she explained that if trustees decide to reside in the property once they have met a condition of release, they should transfer the property from the SMSF to the members in their personal capacity, she explained. This will help avoid potentially breaching the sole purposes test, she said, in the event that the trustees residing in the property is treated a present-day benefit or personal use of an SMSF event. She also noted that the transfer of the property from the SMSF to the members in their personal capacity will result in transfer duty or nominal duty being paid, with the exception of Victoria, the ACT, Queensland and South Australia where transfer duty on this type of transaction is exempt. The trustee must still ensure that the in-specie transfer is permitted under the trust deed. If the trust deed is silent on any in-specie transfer, then the trust deed will need to be updated to allow the in-specie transfer to occur, she added. See more

18.01.2022 Breaking News - Small business loans deferred for 6 Months - NAB have announced they will provide relief to those with Home Loans as well. I would expect other banks to follow... See story below. https://www.abc.net.au//coronavirus-banks-custome/12073930

18.01.2022 P&N Bank Home Relief Package If any of our members have been affected by the current COVID-19 situation, we are here to help. In addition to our comprehensive financial hardship processes, we will be offering the following options for our members: Members in advance of their scheduled loan repayments or who have the ability to access their offset account can draw these funds at no cost. If no redraw or offset funds are available, all eligible members can apply for a repay...ment pause on their home loan for up to 6 months. This applies to both owner-occupied and investment loans for principal & interest or interest only repayment terms. Interest will be capitalised during the repayment pause. After the repayment pause, scheduled payments will be recalculated which means minimum monthly repayments will need to be increased to repay the loan within the original repayment term. Effective from 1 April, 2020. If one of your clients needs to apply for the home loan relief package, please ask them to complete this form or call our Contact Centre on 13 25 77 for more information. See more

16.01.2022 For Defence or ex Defence members :-) https://www.contactairlandandsea.com//changes-to-military/ Note we are also able to act as Brokers for DHOAS loans as well :-)

16.01.2022 Currently we are seeing delays of months for the ATO to look at and approve New SMSFs ! See below. >>>>>>>>>>>>>>>>>>>>>>> ATO cancels hundreds of newly registered SMSFs With illegal early release risks with newly registered SMSFs remaining a top priority for the regulator, the ATO has reviewed thousands of recently established SMSFs and cancelled around 963 funds.... ATO director Kellie Grant said the Tax Office continues to focus on its compliance work with newly registered SMSFs. This is a high priority for us to ensure that individuals aren’t setting up funds for the wrong reasons and rolling over their super from an APRA-regulated fund and then illegally accessing it early, Ms Grant said, speaking at the Tax Institute National Superannuation Conference. One of our key compliance strategies remains targeting individuals and promoters who are registering SMSFs with the sole intent of using that fund as vehicle to illegally access their benefits without meeting a condition of release. During the 2020 financial year, Ms Grant said the ATO registered around 22,018 new SMSFs, which was a 7 per cent increase compared with the same time during the 2019 year. Registrations overall increased for the first time in five years and there was actually a particular spike in registrations during March at the onset of COVID where they increased by 35 per cent, she said. Ms Grant explained that when an individual registers for a new SMSF or looks to join an existing SMSF, the ATO puts them through its secure front door process. This involves putting them through our risk model, which uses a series of risk attributes to try and identify individuals who may be potentially trying to enter the system for the wrong reasons, she said. Of the 22,018 SMSFs registered in the 2020 financial year, approximately 19.9 per cent or 4,393 of those funds were moved offline and reviewed because the ATO’s model actually rated those individuals looking to set them up as being individuals that were likely to early release their money, she stated. As a result of these reviews, 288 funds had their details withheld from Super Fund Lookup, which means they were unable to receive SG contributions or APRA fund rollovers, and we also cancelled 963 newly registered SMSFs, she said. Almost 46 per cent of the cases picked up by our risk models had further action taken, and because of that, we were able to actually protect $126 million worth of retirement savings leaving the retirement system illegally. See more

15.01.2022 R U OK ? DAY .. https://youtu.be/A32Up3wBS6k

14.01.2022 Regardless of the heartache - sometimes you have to down tools and help people who have been taken for a ride! Today after 3 months of arguing with a Bank the Bank have agreed to let a lady keep her house and wipe the arrears. 2 weeks ago she was told no other option but to sell by the bank's lawyers !! So a great outcome for her !

14.01.2022 https://www.ato.gov.au//withd/early-access-to-your-super/

13.01.2022 APRA has issued new licence conditions on AMP Super amid ongoing concerns over the company's management in the wake of the Hayne royal commission. The prudential regulator on Friday said it had issued fresh directions and conditions to AMP Superannuation Limited and NM Superannuation Proprietary Limited - collectively AMP Super - to address a range of issues identified during its ongoing supervision of the company. Shares in the embattled wealth manager fell by a further four... per cent at the open of markets and were down 3.79 per cent at $2.155 by 1045 AEST. APRA said AMP Super will be required to make "significant changes" to its practices. "Areas identified for improvement include conflicts of interest management, governance and risk management practices, breach remediation processes, addressing poor risk culture and strengthening accountability mechanisms," the Australian Prudential Regulation Authority said in a release. The action comes after AMP Super was referred to APRA following the royal commission for failing to act in its members' interests. The damaging inquiry heard the AMP board's outsourcing arrangements meant it was largely unaware of the depth of its investment underperformance, and that the company was hamstrung to prevent fee gouging by related parties. Last month AMP's superannuation arm was hit with a separate class action lawsuit by Maurice Blackburn for allegedly charging fund members "unjustifiably" high fees for an extended period of time. APRA's directions issued on Friday require AMP Super to renew and strengthen its four-member board, which currently comprises of interim chairman Tony Brain, independent directors Cathy Doyle and Louise Dudley, and director Darryl Mackay. Additionally, APRA requires AMP Super to engage an external expert to report on remediation and compliance with the new directions and conditions. AMP said in a release it would fully implement the directions and additional conditions. "We have been working constructively with APRA on this matter and have already taken action on a number of the issues raised," AMP announced to the ASX. The embattled wealth manager was one of the more prominent firms to feature at the financial services royal commission, where it faced various accusations of wrongdoing including charging clients for advice they never received. AMP subsequently lost its chairman and chief executive officer, haemorrhaged billions of dollars in funds and was slapped with lawsuits. Last month AMP shareholders voted in favour of the company's remuneration report, but the leadership team says further uncertainty awaits as it embarks on a multi-year journey to lift earnings and rebuild its share price. Shares in the company were worth $2.24 before trade on Friday, having lost more than 12 per cent of their value so far in 2019 and about 60 per cent since March last year.

12.01.2022 Please help save a local business - please share. Feel free to post your local business you support as well. Every little bit helps in this crisis! :-)

12.01.2022 Govt announces 2nd Stimulus Package providing further Spt for bussiness, extra funding for unemployed and another $750 For Centrelink Receiptants. Stay Safe Isolate !

11.01.2022 Ok Lots going on and probably more to come down the track with the Government making lots of decisions. A number asked here on rent relief in SMSF - Well here it is ATO will not take action against Trustees this and next Financial Years See below from SMSF Adviser...Continue reading

11.01.2022 A further $ 20,000 Construction Grant by WA Govt ! This is in addition to the Federal Govt Grants of $ 25,000 announced last week ! So up to $ 45,000 on a new build in WA plus existing FHOG and Transfer Concession as a First Home Owner sees you towards the $ 70,000 mark available to buy a new home !!!! PM for further details or finance help :-) https://www.wa.gov.au//g/apply-new-home-construction-grant

10.01.2022 As expected Interest Rates remain on Hold. https://www.geelongadvertiser.com.au//c6df97c0f1714c215e76

09.01.2022 Super changes in COVID-19 measures what it means for SMSFs and Super! From SMSF Adviser article - see below comments on how things changed and may affect you! >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>...Continue reading

09.01.2022 Better news for employers and note that job seekers partners wage allowance has increased to $ 80 K. So if unemployed by this virus you can now claim for allowances if your partner earns up to $ 80 K (previously around the 50 k mark) which helps a lot. :-)

06.01.2022 Full qualification details on HomeBuilder can be found on our Home Loan Info Group - Feel free to join :-) https://www.facebook.com/groups/homeloanexpertsaustralia/

06.01.2022 If your ability to work or your business operations have been affected by the virus outbreak, heres a snapshot of how some major banks could help ease the financial burden. Weve also found the best way to contact your bank and get the ball rolling for those doing it tough. The Big 4 Banks ANZ ANZs assistance options currently focus on their business and home loan customers, but theyre also ensuring all other retail customers can access all their accounts digitally to sup...Continue reading

05.01.2022 Only deal with reputable Advisers and always check the fundamentals they are telling you. Adviser Jailed for 3 years ! See below: >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>... A 51-year-old man has been sentenced to three years jail in Sydneys Downing Centre District Court after pleading guilty to orchestrating illegal early release of super by creating a fraudulent SMSF. Kent Nguyen was found to have created, operated and benefited from the Tot Form Super Fund, which did not comply with the relevant super legislation requirements to make it a legal SMSF. Between 2007 and 2009, Mr Nguyen used the fund to arrange the illegal early release of super for a number of people in the community, many of whom were in financial trouble and were recommended to Mr Nguyen by word of mouth. A total of $700,000 was withdrawn through the fund on behalf of 25 individuals who rolled their super over from retail funds, with Mr Nguyen retaining a significant amount of this sum, telling his clients the money had been paid to the ATO. Commenting on the case, ATO assistant commissioner Ian Read said those who promoted illegal early access schemes through SMSFs would be held accountable. While the majority of SMSFs do the right thing, this case serves as a reminder that there are severe penalties for those who attempt to cheat the system, Mr Read said. Taking your super out from any super fund early without meeting a condition of release, or encouraging others to do so, is illegal. Mr Read said the case also served as a reminder to consumers to be aware of their super obligations. There are some very limited circumstance where you may be able to withdraw your super early, but generally, you can only withdraw your super when you reach preservation age and stop working, he said. Illegally accessing super early will cost people a lot more than the super they access and may get them into trouble as there are serious consequences for withdrawing super before they are legally entitled to do so. These consequences could include declaring the accessed amount as income in their income tax return, administrative penalties and disqualification from being a trustee.

05.01.2022 Changes to way the ATO enforces SMSF Breaches. It gives them a middle ground to the way they enforce breaches of a non serious nature. See below article from SMSF Adviser >>>>>>>>>>>>>>>>>>>>>>>>>>> The ATO is reshaping the way it discloses headline administrative penalties to SMSF trustees so that amounts which may be remitted are provided alongside the strict calculation, which one law firm says is a welcome move.... Speaking in a recent webinar, DBA Lawyers senior associate William Fettes explained that the introduction of the administrative penalty regime significantly bolstered the ATOs arsenal for addressing non-compliance in the SMSF sector. It has provided a middle ground between lesser measures and the more drastic responses such as non-compliance, trustee disqualification, and civil and criminal penalties, Mr Fettes said. Administrative penalties in respect of SISA compliance are imposed automatically under section 166(1) of the SISA on a strict liability basis for the contravention of specified rules. Mr Fettes reminded SMSF professionals and trustees that penalties are imposed per trustee based on a number of penalty units. In many cases, there is some prospect of the ATO considering remission, so the commissioner does have the discretion to remit all, part or none of the penalty when they consider the overall circumstances and the taxpayers response to the queries being raised and the discussion thats been had, Mr Fettes said. It is possible that a substantial amount of the aggregated administrative penalties initially presented to the taxpayer (i.e. worked out on a strict basis) may ultimately be remitted by the ATO due to knowledge of the background circumstances, the taxpayers responses and the totality principle. The totality principle, he explained, is where the various contraventions are seen as one contravening course of conduct, even where its over a substantial period of time, for which the taxpayer should be liable to a single maximum penalty.

04.01.2022 Interest Rates Remain Stable as Reserve Bank does not change the current Cash Rate of 1% ! The majority of experts are predicting a reduction later this year still ! https://www.smh.com.au//rba-holds-fire-as-it-awaits-data-o

04.01.2022 ASSISTANCE FOR HOUSEHOLDS The Australian Government will provide a one-off $750 payment to around 6.5 million social security, veteran and other income support recipients and eligible concession card holders. **Eligibility**... To be eligible, you must be residing in Australia and be receiving one of the following payments or hold one of the following concession cards on 12 March 2020: * Commonwealth Seniors Health Card holders * Veteran Service Pension; Veteran Income Support Supplement; Veteran Compensation payments, including lump sum payments; War Widow(er) Pension; and Veteran Payment. * Veteran Gold Card holders * Farm Household Allowance * Age Pension * Disability Support Pension * Carer Payment * Parenting Payment * Wife Pension * Widow B Pension * ABSTUDY (Living Allowance) * Austudy * Bereavement Allowance * Newstart Allowance * Youth Allowance * Partner Allowance * Sickness Allowance * Special Benefit * Widow Allowance * Family Tax Benefit, including Double Orphan Pension * Carer Allowance * Pensioner Concession Card holders https://www.smh.com.au//six-million-australians-to-get-imm

04.01.2022 Life is about helping others. This week I saved a person being scammed and them losing their home to the Banks who were about to repossess it. I also got a lady to get her insurance reinstated which allows her to make a future claim of around $ 150 K. :-)

03.01.2022 This shows the differences in Policies for Both parties for the Election! Labor have proposed Major Changes including Franking Credits not being claimable as a tax Deduction as well as not allowing Property Borrowing within a SMSF. :-( But wait there is More !! see below :-( :-( :-( See full details below - source SMSF Adviser >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>...Continue reading

03.01.2022 More is needed to clarify this all but 6 month moratorium on business and residential evictions due to virus impact. Further announcements expected soon ! https://www.realestate.com.au//governments-green-light-6-/

01.01.2022 Best Easter Gift? STAY AT HOME ! :-)Best Easter Gift? STAY AT HOME ! :-)