PFG Financial Services in Spring Hill, Queensland, Australia | Investing service

PFG Financial Services

Locality: Spring Hill, Queensland, Australia

Phone: +61 1800 767 657

Address: Suite 105, 101 Wickham Tce, 4000 Spring Hill, QLD, Australia

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

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24.01.2022 The RBA has opted to leave the official cash rate on hold at 1.5%. With spring traditionally a busy time for the real estate market and for rate moves, all eyes... were on todays Reserve Bank of Australia board meeting, where once again it was decided to leave the official cash rate unchanged for the 13th consecutive month. The RBA avoided the temptation to follow other developed economies and increase rates due to continued concerns around low wages growth and the impact of rising power prices on households. Regardless of whether rates move up, down or stay the same, my role as your mortgage broker remains unchanged. Im always on hand to ensure you still have the right financial solution for your current circumstances. If youd like to have a chat about what todays news means for you and your finances, please dont hesitate to get in touch.

24.01.2022 Whatever your dream is, the first step is making a plan. Make 2018 the year you get started on the path to living your dream.

24.01.2022 Why Retirement is getting further away The retirement age (the age at which you can access the Australian Governments Age Pension) quietly increased on July 1, to age 65.5 for anyone born between 1 July 1952 and 31 December 1953, and will increase to 67 for everyone born after 1 July 1957. In addition, last month, Social Services Minister, Christian Porter, confirmed that the government would progressively push this age out to 70, by 2035, for everyone born after 1 January 1...966. This has been on their agenda for 3 years, but is yet to pass parliament. A retirement age of 70, would give this country the unwanted distinction of having the oldest retirement age in the developed world, taking the crown from Finland, which currently holds the title at age 68. While affecting all workers, no doubt this change will impact one section of the workforce hardest. A large portion of our client base are blue collar workers, carpenters, plumbers, truck drivers, mechanics and so on, having done manual work their entire lives. Most love their jobs, the mateship, and so on, but are physically spent long before 70. The real risk here is, not just being able to do the physical work, but in finding the work in the first place, as they are often favoured by younger, physically stronger workers. Its often suggested, that they can find an office job, or supervisor role, however, its simply not that easy. Of course, Superannuation can still be accessed earlier, according to a persons preservation age but without adequate planning, many, many people will have to use much more of their super, at a much younger age leading many to have far less if any at all, by the time they reach retirement age. I would argue, that theres never has it been more important to put a plan in place, to navigate the changes coming. While the easy thing might be to sit back and blame the politicians, one of the great Australian Pastimes, the harder road is to take ownership and control of your own retirement, sit down and make a plan, to look ahead ensure that whatever changes are made along the way, you will have the financial freedom in retirement we all dream of.

24.01.2022 Over the next month well be looking at various property related issues, such as tips for first home buyers, owner-occupiers and investors. Today were looking at tips for parents trying to help kids get onto the property ladder. For assistance with your own circumstances, book an appointment with one of the team today.

23.01.2022 Discussing industry issues with Riskinfo magazine at the AFA National Conference

22.01.2022 Great client feedback via an extensive survey we recently conducted.

22.01.2022 Are you really covered under your employer Superannuation plan? The majority of people that have Superannuation would also be paying for an amount of default life insurance within their fund. The real benefit of this type of cover, is that generally, the member does not have to answer any health questions to get the cover, so many that may have health issues will get a good level of cover, literally no questions asked. The amount is determined by the super fund, and can ...take into a number of factors such as age and occupation. Unfortunately, the individual circumstances of the member is not taken into account, such as their level of debt, assets, dependant kids and so on. This leads to many members either not having enough cover to protect their family or the opposite, which is members paying for cover that they do not actually need, therefore, eroding retirement savings. A vital consideration is how long you are likely to need the cover am I likely to require a large amount of cover until retirement, or do I only need the cover for a shorter period, such while paying off particular debts or school fees. Some insurers will also allow you to choose from a stepped or level premium. A stepped starts lower, but increases with age, often rapidly closer to retirement, whilst a level premium starts at a higher level, but remains at that level generally until at least age 65. For a shorter time period, stepped will be a preferable option, however, over a longer period of at least 15 years, a level premium can be considerably more cost effective, and ensure that you can afford to keep the policy later in life, when youre likely to need it most. Another feature to watch out for is decreasing cover which means, that the amount you are insured for will reduce either annually or at set ages, whether you like it or not. Unfortunately, I have seen instances where members may be ill, and also have the uncertainty that the amount they are insured for is decreasing each year. The alternative is a fixed level of cover that will stay the same level, generally until retirement age. One further consideration is whether my funds premiums differentiate between smokers and non-smokers? If not, and you dont smoke, then its likely that youre subsidising the smokers premiums, if theyre not paying more than you do. By taking a couple of these things into account, and getting the right advice, members can ensure that they not only have the right amount of cover, at the right price today, but also ensure they will have sufficient cover for their circumstances in the future and most importantly, can afford to keep that cover in the future.

20.01.2022 The revamped First Home Super Saver Scheme is available, but will anyone use it this time? The Governments new First Home Super Saver Scheme (FHSSS) is now up and running, but how does it stack up against saving in the bank and will it be a flop like Kevin Rudds scheme of several years ago, which had very low take-up. Heres the basics: First home buyers can now make voluntary superannuation contributions, via a salary sacrifice arrangement, of up to $15,000 per annum, and... a maximum of $30,000 in total. Each member of a couple can benefit from this. These funds will be taxed at 15%, as opposed to the individuals marginal tax rate of up to 49%. It is important that the total of your employers compulsory contributions plus the voluntary contributions, do not exceed the new concessional cap of $25,000 per year. These amounts contributed, less tax, plus applicable earnings, can be withdrawn, from 1st July 2018, for the purposes of a home deposit. This will be taxed at the individuals marginal tax rate, less a 30% offset. If you are self-employed, or your employer does not allow you to salary sacrifice, dont stress, as you can make the contributions yourself, and claim them as a tax deduction. Time will tell whether this scheme proves a hit, unlike the last one. The benefit no doubt, is the saved tax upfront, giving your deposit a big head start. A lot of the detail still must be worked through, such as how super funds will administer this, and my biggest query, how quickly Id be able to access my funds when I require them, considering the scheme is administered by the ATO, which can be very slow moving at times. However, on the face of it, looks like it could be something to consider for those trying to get their deposit together in a quick and tax-effective manner. Now an example, someone earning $60,000 per annum, has a marginal tax rate of 34.5% (including medicare levy). If they chose to salary sacrifice $100 per week, under the FHSSS, they would be taxed $15, and have $85 to be invested and allowed for withdrawal when they need their deposit. If they chose to take wages, pay $34.50 tax, theyd be left with $65.50 to save in the bank. With low interest rates, then tax payable on any interest earned.

20.01.2022 To avoid mortgage stress in the future, its important to start planning ahead now.

18.01.2022 Are you feeling like you are on top of your finances?

18.01.2022 Changes aimed at improving housing affordability have passed through parliament. Learn more about these changes, but as with any large financial decision make sure you seek financial advice to see whats right for you.

17.01.2022 Talk to the team about ways to get on top of your finances.

17.01.2022 IF you dont know exactly what interest rate you are paying on your mortgage, chances are it is too high. In the past few months, many lenders have been quietly increasing their interest rates, whilst a few have actually decreased them particularly for owner occupied loans. So what was a great rate 12 or 24 months ago, may not be anymore. But does it really make that much difference? Is saving half a % on my rate worth the paperwork to switch lenders. ... Lets look at the example of a young couple, who bought their first home 5 years ago. The bank handed them a $600,000, 30 year mortgage, of which they still owe $547,000 are making monthly payments of $3,036 at an interest rate of 4.49% (assume no fees for simplicity). Theyre happy, as they feel theyre making inroads on their loan. The bank is very happy, they pay on time every month, and have a great credit history. And why wouldnt the bank be happy, if they continue at this rate, in addition to the interest already paid, they are still due to pay the bank over $364,000 over the remaining 25 years. Although happy, the couple decide to review their mortgage to ensure it is still competitive. Challenge your bank, or find a mortgage broker to do it for you. Are you getting the best rate available. The market can change quickly, and what was competitive 5 years ago, may not be currently. PFG Financial Services mortgage specialist, Carlo Capello, suggests that anything under 4% is considered a good rate, for an owner-occupied property, whilst he still sees many people paying closer to 5%. Assuming the couple can refinance their mortgage to a more competitive rate of 4.1%, how would that affect the outcome. They decide to continue paying their original amount of $3,036 per month. The result, they knock 19 months off the term of the loan, and save over $60,000 in interest! The first step is to take up the challenge am I paying too much. A little bit of effort now, can make a huge difference down the track.

16.01.2022 Despite the negative press, there are some great new opportunities soon to be available to super members. The new financial year brought a range of legislation changes, of which the reduction in the concessional contribution cap to Super, of $25,000 for all eligible contributors, was one of the more widely criticised. The Concessional contributions cap includes contributions such as super guarantee contributions, salary sacrifice contributions, and personal contributions for ...which a tax deduction will be claimed. These contributions are taxed at 15% on entry to the fund, and should not be confused with Non-concessional contributions, generally after-tax contributions, which offer entirely separate caps. Concessional contributions in excess of the cap are taxed at the clients marginal tax rate (less allowance for the 15% contributions tax) and an interest charge applies. However, there are also two changes that will provide some opportunities and benefit to a lot of contributors, due to start of 1st July 2018. Employees will be able to make their own contributions to super and claim a tax deduction, something that was previously only available to the self-employed (less than 10% of income from an employer). Archaic, as it is, employers by law, do not have to offer the ability to salary sacrifice to super for their employees, and even more frustratingly, a few even reduce their employer contribution made as their legal requirement of 9.5% - either by stating that the salary sacrifice meets their obligation or pay the 9.5% on the lower wage, that is, after the salary sacrifice has been deducted whilst unethical, both perfectly legal. The good news is, employees will be able to make their own concessional contributions, staying within the $25,000 cap, which could benefit for a number of scenarios the most obvious, is the example above, where doing so via the employer could provide a negative impact, but others include having variable income, such as investment income, commission or a bonus, or being able to make a contribution to offset a capital gain, such as selling an investment property. The second initiative, is the catch-up provision, allowed from 1st July 2018. This means people with super balances of less than $500,000 at the start of the financial year, can carry forward their unused portion of the contribution cap, to use in future years. Amounts can be carried forward for 5 years, after which they expire. These two new initiatives combined will be very powerful, and create some excellent tax-planning strategies moving forwards.

16.01.2022 Take control of your money A common question we often get asked is how can I be better with my money and get ahead? Its certainly a relevant question with a... recent Galaxy Research poll finding that 52 per cent of Australians say that they are not confident managing their money. Read More at http://www.pfg.com.au//take-control-of-your-money-by-karl/

15.01.2022 Thankyou to our clients and staff for donating gifts. It was a nice feeling to help bring joy & smiles to children in need this Christmas!

13.01.2022 Without trying to kill the romance, here are 5 financial considerations to make after saying I do.

13.01.2022 What should I expect when meeting with a Financial Planner? https://www.facebook.com/PFGFinancialServices/posts/1875451135822051

12.01.2022 Our team of experts can assist with helping you create a plan today. Contact PFG Financial Services for a free meeting today so see what is possible.

11.01.2022 From July 1, many more people will be eligible to utilise the spouse contribution strategy, due to an increase in the allowable income limits. This can be both a great way for a couple to both boost their super, and save tax.

10.01.2022 Hotly debated at last election, but what exactly is negative gearing? A big topic of debate prior to this years budget was around whether negative gearing should be allowed or banned. The argument was, that a negatively geared investment means the investor is making a loss so why should tax-payers be subsiding this. The argument goes much further than this, as we need property investors to provide housing for people to rent, and so on, buts lets look at what it is, wit...h a couple of calculations. Lets say I purchase an investment property for $500,000, and borrow the entire amount. My expenses are, interest on my loan at 4.5% interest only, which is $22,500, plus $2,000 of other costs such as insurance and rates, for total expenses of $24,500. Now Im getting $500 per week rent from my tenants, or $26,000 per annum (for the purposes of simplicity, Im ignoring some aspects such as depreciation and estate fees, which may change the outcome). In this example, my income is greater than my expenses, therefore, this is considered positive gearing, and in fact I will be required to pay tax on that $1,500 profit. So from this example, you can see in the present low interest rate environment, means that there actually shouldnt be too many that are benefitting from negative gearing, in fact Id be concerned if they were, as they might be in real danger when interest rates rise, as they will at some stage. It wasnt that long ago where I would have been paying 7.5% interest on that loan, so how would that affect the outcome. With all other things remaining as is, my interest expense would no be $37,500 changing a $1,500 profit, into a $13,500 loss. From a tax point of view, I would be eligible to claim that $13,500 as a tax deduction (hence the propped up by taxpayers argument) thats negative gearing. (if expenses equal income, they call that neutral gearing). Yes, Im going to get a better tax return in the second example, but Id much rather not be making a loss in the first place, as having a positively geared investment and paying a bit extra tax, isnt a bad problem to have. Ive spoken to many people, who have purchased investments due solely to the tax advantages that negative gearing provides. This seems a bit of contradiction to me, as the bigger tax advantage, the bigger the loss. Its only when they look at the loss they are in fact making in the first place, to get that tax deduction that they begin to question their strategy. The principle rule when considering an investment, is the quality and income or growth prospects of the investment itself.

08.01.2022 Dont let it take you by surprise.... We dont always know the best way forward when big life events happen. Dealing with major financial questions around inhe...ritance, having your first child, or planning to care for a frail relative can be complex and confusing. With expert financial advice, youll have help to reach your goals. We take the time to get to know your circumstances and whats important to you. And we create a plan thats tailored just for you. Talk to us today by calling one of our offices listed below: Moonee Ponds Office 337 Ascot Vale Road Moonee Ponds VIC 3039 P (03) 9375 5100 Brisbane Office Suite 105, Lvl 10 / 101 Wickham Tce Spring Hill QLD 4000 P (07) 3839 1114 Barwon Heads Office Shop 4 / 50 Hitchcock Ave Barwon Heads VIC 3227 P (03) 5255 9555

08.01.2022 The RBA has opted to leave the official cash rate on hold at 1.5%. At its board meeting today the Reserve Bank of Australia decided to once again leave the offi...cial cash rate unchanged for the 12th consecutive month. The RBA avoided the temptation to follow other developed economies and increase rates, taking into account the impact this would have on the Australian dollar and therefore tourism and other exports. Other factors considered would have been sluggish consumer spending and record low wages growth which have led to lower than desired inflation and fears that housing construction is set to slow. Regardless of whether rates move up, down or stay the same, my role as your mortgage broker remains unchanged. Im always on hand to ensure you still have the right financial solution for your current circumstances. If youd like to have a chat about what todays news means for you and your finances, please dont hesitate to get in touch.

06.01.2022 A large number of Australian households are financially stressed. Dont ignore the warning signs - and make a plan to do something about it.

06.01.2022 Huge honour for PFG Financial Services to be recognised as one of the top 3 practices in Australia for 2017 by the Association of Financial Advisers! Regarded as the top award in the industry, we were recognised during a rigorous selection process for our innovation, technology, promotion of financial literacy and excellent customer service.

06.01.2022 With the recent reduction of the concessional super cap, this is a conversation people need to be having at an earlier age.

05.01.2022 PFG Financial Services announced as AFA Practice of the Year Finalist! We are excited to announce that PFG Financial Services, has been named as one of 3 finali...sts for the prestigious Association of Financial Advisers (AFA) National Practice of the Year for 2017. Nominees for the awards, a joint venture between the AFA and Zurich, were created to recognise qualities of leadership, innovation, customer focus and professional excellence within the financial advice industry. Every finalist has invested in themselves and their business, and to reach this stage of the judging process is an achievement in itself, said AFA chief executive Phil Kewin. Not to mention all of those who are striving to be the best, who did not make this years finalist. They should be all very proud, and I congratulate them all for their commitment. When looking at those representing our profession, we certainly have a lot to be proud of. The winner will be announced at a gala dinner on 13 October. For more information of the AFA Media release please click on the following link... https://www.afa.asn.au//afa-and-zurich-announce-adviser-ye

02.01.2022 Over the next month we'll be looking at various property related issues, such as tips for first home buyers, owner-occupiers and investors. Today we're looking at tips for parents trying to help kids get onto the property ladder. For assistance with your own circumstances, book an appointment with one of the team today.