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Potts Financial Services Pty Ltd

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25.01.2022 Good news for those with a mortgage, the RBA's official cash rate will remain at 0.10%. Bad news for those hoping to get a return with no risk, interest rates in savings accounts are below CPI, meaning you are going backwards in terms of real dollars. The best Term Deposit we can do for investors through the Cashwerkz platform is 0.84% for 12 months, or 1.10% for 24 months, again this is likely to see you return less than CPI over that period. At call bank accounts are simil...ar, top rate of 0.90% (minimum of $25,000 deposited) or 0.85% with no minimum. There is simply no money for investors to make. If you have a large cash savings with no intention of using them over the next few years, give us a call and we can discuss your options. A longer term investment strategy taking on more risk may suit you depending on what you are planning to achieve.

24.01.2022 Here is the page to apply for the circuit breaker relief grant. Pity it has no information other than the grant doesn't open for a few days and the criteria is to be released. What an absolutely debacle for small businesses in Victoria.

24.01.2022 The ability to turn a complex idea into a simple set of habits is usually the secret to success. This week, we thought we would boil financial management down to a simple mathematical formula which many successful people have applied in their own lives. We call it the wealth equation.

23.01.2022 Thanks to Jim Prigg at Knowledgemaster for sending this article through to me regarding insurance where widows are left to run a business they are incapable of running. Article was in the @financialreview on Tuesday 11 November 2003.

23.01.2022 Six years ago I embarked on a journey that many thought was not possible. I became a self-employed financial planner despite only 10 months experience in the industry. Through that time I have had five different AFSL providers, the most recent, Shartru Wealth have been very supportive of Potts Financial Services and I cannot thank Rob, Catherine and the team enough. There is some exciting news in the pipeline for Potts Financial Services in January should things go to plan a...nd I cannot wait to share that news with everyone when the time is right. Our commitment to our clients will continue into a seventh year. I hope everyone has a happy and safe Xmas break, whilst I will be winding down my day to day duties as of this post for a couple of weeks, I will still be available on the phone and checking my emails a couple of times a day. Andrew Potts - Director

23.01.2022 Next week brings the first day of Spring an arrival that cant come soon enough in this most strange year! To mark the changing of the seasons, this week we take a lighthearted look at the relationship between money management and the weather. You might be surprised to know that serious researchers have looked at this question. So, for investors, could it really be a case of Hello Sunshine?

21.01.2022 Amid the raft of measures announced by the Commonwealth Government last month, one of the more contentious was the decision to allow limited access to superannuation benefits to people who are under-age. This change took effect from Monday of this week. Whether withdrawing makes sense in your case depends very much on your unique situation.

20.01.2022 MoneySmart have a great range of financial calculators, all of which can easily be accessed through our website. Check them out today.

19.01.2022 Property is not only the great Australian dream, it is also a fiscally responsible investment. Owner occupied properties are exempt from Capital Gains Tax, meaning you can buy a house, live in it for thirty years, sell it at a higher rate and not be penalised for this. Investment properties are subject to Capital Gains Tax, but if held for longer than 12 months there is a 50% discount. There are also some other advantageous. I personally settled on an investment property in September 2019 for $306,600. It is being valued over the next week, will be interesting to see what the increase is over the last 16 months.

19.01.2022 Are you thinking of taking money from your superannuation under the COVID-19 early release measures? If you are, get in touch with us first to confirm your eligibility and discuss the consequences of doing this. We will provide you with confirmation that you are eligible, all the information about how to access the funds and the benefits and consequences of this in writting via a Record of Advice, which is a small document that is easy to understand. ASIC have released guid...eliness around this and we can provide this via a Record of Advice only for $300. There is no further obligations from you for future advice and we will only add you to the mailing list if you consent to this. We are available to discuss this via Zoom or on the phone 0424 969 228.

19.01.2022 Understanding franking credits and franked dividends is one thing that most people struggle with. Here is a quick run down of how they work, why franking credit refunds exist and why that isnt unfair. ******************************************************************* This information is general advice and does not take account of investors objectives, financial situation or needs. Before acting on this general advice, investors should therefore consider the appropriateness of the advice having regard to their objectives, financial situation or needs.

19.01.2022 Here is a detailed look at how our friends at Sunsuper manage their liquidity risk within their portfolio. With massive market drops coupled with the government stimulating the economy with allowing some people to release money from their super early, if your superannuation fund isnt doing this there could be a problem. Dont think this cannot happen, look at what happened to MTAA Super in the GFC. For years MTAA was the best performing fund in the market and it all came crashing down in 2008 due to an inability to manage their liquidity risk.

18.01.2022 Victorians we need your help. The state government has released the Business Support - Extension grant to all businesses in the lockdown effected areas unless:... - You are not registered for GST - Your business turned over less than $75,000 in 2019/20 - You are a sole-trader not employing anyone else - Not receiving JobKeeper - Paid more than $3,000,000 in wages in 2019/20 - Not registered with WorkSafe paying WorkCover premiums Lets debunk these: NOT REGISTERED FOR THE GST Many small businesses that opened up in the middle of the financial year are not registered for the GST yet, and wouldnt need to until the following financial year. Regardless we should be supporting these businesses to help them grow and become future employers. UNDER $75,000 TURNOVER 2019/20 A lot of businesses have been closed since the start of March, or 1/3rd of the financial year. Why would this not be 2018/19 or 2019/20 or $49,500 which reflects 66% of $75,000? SOLE TRADERS NOT EMPLOYING OTHERS These busineses have overheads too. Many of them are just starting out, growing rapidly and will become future employers. Why write them out of the first round and then the second round. Surely $15,000 to them is better spent than on a zombie company that has already planned to shut down post JobKeeper? NOT RECEIVING JOBKEEPER JobKeeper requires a 30% reduction in turnover, this one might be the hardest to argue but what about a business with a 20% drop. Another kick in the guts and probably more staff laid off post COVID. That is not good for jobs in Victoria. PAID MORE THAN $3MIL IN WAGES These are busiensses employing a lot of Victorians. We need to support these business through lockdown to ensure that they are still around to employee Victorians as we recover. NOT PAYING WORKCOVER PREMIUMS Many businesses are exempt from the Workers Compensation Scheme. Mine for one, we provide advice on behalf of an AFSL provider, which WorkSafe class as our only business client which is serviced by only me. There are others too, many one person companies only pay dividends and not wages so they are expempt. These are future employers that are growing businesses. Killing them kills future jobs. We as a state must help save small business to ensure that we have jobs to go back to when JobKeeper ends and JobSeeker goes back to its pitence of $550 a fortnight. This will effect every Victorian and you will all be complaining if there are no jobs once this is done. Email your local member urging them to open up the grant to all businesses as well as Tim Pallas ([email protected]), the treasurer of Victoria, Michael OBrien ([email protected]), the opposition leader and shadow minister for small business, Louise Staley ([email protected]), the shadow treasurer. Find your local member here: https://www.parliament.vic.gov.au//member/list-all-members There email address is [email protected]. Together we can help keep small businesses viable and alive and ensure that we all have jobs to go back to post COVID-19.

18.01.2022 Great news for Australians out of work, jobs seem to be returning. Be aware though, JobKeeper ends at the end of March and we could see some jobs that were being fully funded by this disappear which could impact the figures. As they say, the tide is going out and we are about to find out who is swimming naked.

17.01.2022 Not good. People with ZERO in retirement savings. Aged pension for singles is barely liveable, especially when it is supplementing nothing. Result is older people having to work longer, more squeeze for jobs and higher unemployment rates as a result. This policy was thrown together without enough thought and the testing measures for eligibility were far too weak when compared with the usual hardship measures. There is stimulating the economy and then there is decisions that... have a short term gain for what could be a long term disaster for many. #superannuation #earlyreleaseofsuper #COVID19Australia #agedpension

17.01.2022 Andrew Meakin is head of the investment committee at Shartru Wealth. He is hands down one of the best investment brains in the business. Being a bit of a finance nerd I could listen to him talk all day.

17.01.2022 First Home Owners Super Saver Scheme. What is it? Here’s a quick breakdown. #firsthomebuyer #firsthomeowners #superannuation #financialadvice

17.01.2022 The start of the new financial year is the perfect time to review your financial situation. There is plenty you can do: - Review you income protection policy, this is tax deductible, set it up or have it adjusted to meet your current needs and pay monthly and claim at the EOFY. - Start a salary sacrifice strategy to help your future retirement. - Review last years contributions and consider splitting some of your superannuation with your lower earning spouse.... Now is the time for a review, get in touch today if you are interested in discussing. #superannuation #lifeinsurance #incomeprotection #retirementplanning #financialadvice

16.01.2022 What type of insurances are there? The team and Shartru Wealth have explained them in 91 seconds. What insurances do you need? You might need them all or a combination of a few of them. We can provide an assessment as to what you need and how much.

15.01.2022 Is your superannuation with HostPlus? If so, check out this article, they have changed the rules of their fund and this could have a massive impact on you. Get in touch with us if you are with them and would like to discuss further.

15.01.2022 Changes are happening to income protection insurance. One of the main changes has already taken effect, with a couple of others slated for 2021. This article will discuss the changes that have already taken place and we will publish a couple of articles in November discussing the changes that are yet to come.

15.01.2022 Really interesting article here about how the very illiquid HostPlus Balanced option is holding up. Also important to keep in mind that index funds suffered a lot prior to the graphs noted when compared to their balaned equivellant. No real surprises to see a strong balanced option like Sunsuper performing so well over this period though.

15.01.2022 The most important thing in life is to think as clearly as possible. So, as 2021 gets underway, why not get in touch and together we can make this your ‘year of thinking clearly.’

14.01.2022 Interesting to note here that REST Core Strategy (default investment with 95% of their members in this fund), has only around 50% of its investments in liquid assets. Furthermore, they wont even tell their members how they revalued their infrastructure or to what level. I guess this is okay as the markets should bounce back in time, but it would be very interesting to see if the valuation stacks up in the event they need to sell unlisted assets to fund pensions, withdrawal...s, rollovers or investment switches in the near future. Similar situation to HostPlus, it will be very interesting to see what the future holds and with an April 20 D Day for funds being notified how many of their members have applied for an early release, the chickens could be coming home to roost.

14.01.2022 The share market, interest rates and the residential property market. Not simple concepts, but in this our August newsletter we look at each of them in turn, paying particular attention to the impact that Melbournes resurgence in Coronavirus numbers might mean for them.

13.01.2022 The mental side of money management is always important. Given the events of 2020, how we think about money has become even more vital. While no one really knows what the lasting economic impact of the Coronavirus will be, the one thing that we can be certain about is that many of our working assumptions will need to be changed. The new world will not be like the old world. We will all need to think differently when it comes to our finances. #Covid19Australia #Covid19Aus #Covid19Vic #FinancialPlanning #FinancialAdvice

12.01.2022 Is there any update on the eligibility at 2.15pm of the pushed back opening date. A quick look on the Business.vic.gov.au website tells us no. Jaala Pulford MP would you like to update your constituents about the eligibility for the $2,500 and $5,000 grants? #Victoriangovernment #Victorianlockdown #lockdown4 #Victoriangrants #supportgrants

11.01.2022 Happy spring! In this edition, we take a deep dive into the Australian share market, comparing it to the US and other global markets. We do this for one main reason: we are starting to see some separation opening up between the performance of shares on the US market and the performance of shares on the Australian market. This might actually be a very good thing.

10.01.2022 Happy Australia Day

10.01.2022 If 2020 was a normal year, then this week we would be writing about the 2020 Commonwealth Budget. The 2020 Budget was due to have been delivered earlier this month. However, the Commonwealth Government made the sensible decision to delay the Budget until later in the year, due to the uncertainty about Commonwealth revenues and expenses that the COVID-19 crisis has created.

09.01.2022 June 30 is a deadline for a whole range of things, so in this article we want to remind you of some of them. As the weather has gotten colder, why not make yourself a nice warm drink and read on.

09.01.2022 Shout out to the Victorian teachers on there first day back remote learning and to the parents assisting with home schooling #VictorianEducation #VictorianEducationDepartment

09.01.2022 If you or someone you love depends on your income, then you need life insurance. But how do you know which type you need, or how much, or how best to pay for that insurance? In this ebook, we examine the life insurance options available to you so that you can make an informed decision about one of the most important purchases you will ever need to make.

09.01.2022 Welcome to the December newsletter, our last for the year. And what a year it has been! In this edition we take a deep dive into the performance of the Australian share market during 2020. In our first edition next year, we will look back on the impact of 2020 on residential property prices and ponder what 2021 might have in store.

09.01.2022 We need to support our smallest of small businesses much better. Open up the support grant, many businesses were locked down for 4 months last year and earned less that $75,000. #VictorianGovernment #Lockdown4 #CircuitBreakerGrant #smallbusiness #Vicpol #Auspol

09.01.2022 Today is the start of applications of the Victorian Government News Business Costs Assistance Program Round 2. Applications open today, presumably at 9am like usual. Problem, there is no criteria yet and business owners are panicking and we cannot advise them on eligibility. Jaala Pulford MP, Minister for Small Business, we are calling for your resignation due to this. It is not good enough, people are relying on this and you have had plenty of time. Clearly small businesses are not your priority. Victorian Liberal Leader - Michael O'Brien MP as the Shadow Minister your thoughts would be appreciated.

08.01.2022 We could very much see this working in a time of crisis for those who cannot afford advice. Many everyday people will be hurt if they cannot get access to much needed advice.

08.01.2022 It has been a while since we spoke about property. For now, the state of the property market is particularly inconclusive and this is probably not a time for immediate action. But it is a good time to think about what your medium to long-term response to changes in the property market will be.

07.01.2022 This opens tomorrow with no criteria yet. How can that be possible that the criteria hasn’t been released? @jamesmerlinomp @timpallasmp @martinfoleymp @danielandrewsmp you are treating the state with absolute contempt. How can we advise clients around this with no criteria a day before opening? #VictorianGovernment #VictorianLockdown #Lockdown #Lockdown4 #lockdown4point0 #victoriansmallbusiness

07.01.2022 Another strong day for the ASX200 sees it traiding at a little above where it was at the close of investing on December 20 2018. Do you think the market is as strong as it was in December 2018 or are you expecting things to get worse before they get better?

07.01.2022 This week we finally received the 2020 Commonwealth Budget that was initially expected in May 2020. As expected, this is a whopper of a Budget and we will look at much of its content over coming weeks. This is our usual move, as it allows us time to fully digest what the Budget has to offer. For this week, we will focus on the part of the Budget that is generating the most headlines: the deficit. According to Treasurer Frydenberg, the Commonwealth expects a Budget deficit of $213 billion in the current financial year.

06.01.2022 This week, we thought we would look at an issue that some of us are likely to face, as the impact of Coronavirus affects people we know and love. That issue is what to do if someone asks us for a financial loan. It might be family, or it might be a friend. Either way, lending money to friends and family can be a touchy subject. We hope these general thoughts may help.

06.01.2022 In recent weeks we have discussed various Commonwealth responses to the Coronavirus. One response that has received relatively little airtime is the announcement that people drawing account-based pensions from their super fund can reduce the amount they must withdraw in this and the coming financial year.

06.01.2022 They say the secret to successful comedy is all in the timing. Funnily enough, the same goes for investment or debt management. But unlike with comedy, when it comes to money it is usually best to get in early. Thats because anything that earns interest is worth acquiring earlier - and anything that charges interest is worth paying off as soon as possible.

05.01.2022 *** Important announcement surrounding the proposed amendments to the time limit on the Victorian State of Emergency*** Today the Premier of Victoria, Mr. Daniel Andrews, announced that he was proposing an amendment to the act which would allow the Victorian State of Emergency to extend by twelve months past its current mandate. Potts Financial Services strongly disagrees with this and we believe in a fair go for all Victorians. Many of our clients are sole-traders and small... business owners who are shut down by this very act which is now in proposal stage for an extension and further extensions are planned without a vaccine. They simply cannot survive another twelve months of uncertainty. We do not believe it would be fair for us to support any group financially that accepts money from the Victorian State Government should this amendment pass through parliament and become law, unless there are further provisions for small business support and sole-trader support that means all businesses, not just some, are financially supported. As a company we are for our clients and are required to act in our clients best interests. We believe that the aligning of values is an important part of this and we do not want to be seen with an alignment that does not allow for a proper democratic process and proper checks in parliament. We have decided that as a company that without the proper support measures for our clients that this law would be detrimental to our client base and without full financial support of businesses we will not align ourselves with any organisation that accepts money from the Victorian State Government in terms of advertising or financial sponsorship. Andrew Potts - Director of Potts Financial Services

04.01.2022 This week we thought we would change tack a little. As we all continue in a version of lock down and with Easter now behind us, most schools have reverted to home learning. So, we thought we would provide a little lesson in basic financial management ourselves. If you or someone you know is home-schooling someone, you might like to use this as a lesson. If not, you can always enjoy the lesson for yourself.

04.01.2022 A review of the property strategy through Shartru Wealth by the Investment Committee chair Andrew Meakin.

03.01.2022 Mortgage holidays are set to come to an end around September 30, depending on when you started your deferral. Around 11% of housing loans in Australia were deferred due to hardship at the beginning of COVID-19 according to APRA. What can you do if this is you? - Check out this page by homeloanexperts.com.au... - Give us a call to review your financial situation See more

03.01.2022 Keep an eye out for the latest instalment of Indoor Crickets Greatest Games, proudly sponsored by Potts Financial Services. This was a cracking final between Victoria and the ACT and well worth watching even if you havent seen indoor cricket before.

02.01.2022 Over the past month, the Commonwealth Government has announced and commenced implementing economic stimulus measures that involve the Commonwealth spending (or rebating) more than $200 billion. A fair question to ask is: where do they get the money for that? The answer is a happy one that should be reassuring.

02.01.2022 We are still taking on new clients. Now more than ever is a good time to see a financial planner. We are seeing many people without an adviser make some really awful decisions that will have a major effect on their wealth in the long term. Dont act without speaking to a professional first.

01.01.2022 Reminder of this tonight, proudly brough to you by Potts Financial Services. Company Director, Andrew Potts, is heavily involved in indoor cricket, being in his fifth year as umpiring coordinator in Victoria, having umpired at national championships since 2010 and umpired at the 2018 Junior World Series of Indoor Cricket in Christchurch and the 2019 Masters World Series of Indoor Cricket in Cape Town. We as a company are extremely proud to make this episode of Indoor Crickets Greatest Games possible and hope that you enjoy the show. The Yellow Ball Podcast Cricket Australia Indoor Sportscast Australia

01.01.2022 Check this out. Proudly brought to you by Potts Financial Services.

01.01.2022 Most couples prefer not to think about splitting. But, as the financial year ends, there is one form of splitting that happy couples can safely think about.

01.01.2022 This has the potential to be very interesting with the liquidity issues in some funds that could be hit hardest. We will know more about what funds will be at most risk on Monday when they tell the funds who has been approved already for a $10,000 grab from their superannuation.