Newsletter – March 2017

March 2017 Newsletter

Contents:

 

Primary Production News

FMD Offset Loans

You may recall we wrote a short article back in our January Newsletter regarding FMD Offset Accounts. Since then there has been considerable interest so we have some additional information.

A quick survey of the local banks reveals that at this point only Rural Finance has the FMD Offset facility up and running.

ANZ, Westpac and Rabobank have confirmed that they are looking into a similar offering. CBA confirmed that they do not have a direct offset facility at this stage. NAB had not yet responded!

We encourage anyone thinking about such a facility to check the fine print as the banks may not necessarily be providing 0% finance as might be interpreted at first glance e.g. $300k variable rate loan offset by a $300k FMD offset account. We are aware that in one example only 50% of the FMD was to be used against the loan amount and the normal variable loan interest rate was charged on the balance.

For more details it would be best to talk to your personal banker.

https://www.ruralfinance.com.au/products/fmd-offset-account

 

Crop Income Protection Insurance (MPCI)

Reliance Partners, Abbie Wilson is once again offering Crop Income Insurance for the coming season. This should act as a reminder to anyone concerned about their upcoming season to look at mitigating their risk via appropriate insurance.

If you would like to know more Abbie’s contact details are below:

M       0400 840 397
E        abbiewilson@reliancepartners.com.au
W       www.reliancepartners.com.au


Recent Facebook posts you may have missed:

 

 

 


Announcements:

 

 

 

 

 

 

We would like to congratulate Lee O’Grady from Watts Price Accountants on winning the Administrator of the Year at the recent Wimmera Regional Sports Assembly – Sports Star of the Year Awards for her role as an office bearer of the Horsham Amateur Basketball Association.

Well Done Lee O’Grady

 

 

 

 

 

 

Congratulations to Laurie on achieving 9 years of service with Watts Price!

 


Business Horsham Business Confidence Survey

Watts Price Accountants has just finished compiling the latest Horsham Business Sentiment Survey and the great news is confidence is soaring!

72.7% of respondents when asked ‘How do you expect the local economy to perform over the next 6 months’ stated that they expected conditions to improve.

Read the full survey here!

 


Most asked question of the Month:

What assets don’t Wills deal with?

  • Life insurance with nominated beneficiaries/owners
  • Joint assets – as these assets automatically pass to the other owner on your death

– Shares in joint names

– Joint bank accounts

– Property in joint names (as opposed to Tenants in Common)

  • Superannuation unless the BDBN directs the benefit to your executor
  • Assets owned by a related entity such as a Trust or Company

All the best from the Watts Price Team!


Upcoming Events

Superannuation changes presentation – we are running it again this month!

How Will the Recent Superannuation Changes Affect Your Retirement?

For those that missed the first presentation we are running it again!

If you are interested to hear how the recent legislative changes will affect your superannuation then we will be running an information evening in conjunction with Financial Planner, Paul Block of Grampians Investment Services on Wednesday 15 March 2017.

This session is a must attend event for anyone either with a self managed super fund (SMSF) or thinking about retirement strategies.

Topics to be covered in this session:

  • Recent Superannuation Changes (incl. case studies)
  • How much do I need to retire on?
  • Market update from Paul Block (Financial Planner)
  • Estate Planning Tips & Traps
  • Corporate or Individual Trustee – which is better?
  • And other essential superannuation information

Seating will be limited so secure your seat today by contacting our office on 5382 3001 or email us at mail@wattsprice.com.au

The details:

  • Topic: Superannuation Changes
  • Date: Wednesday 15 March 2017 from 6.00 – 7.30pm
  • Location: Watts Price Accountants office (44 Wilson Street, Horsham)
  • Cost: FREE
  • RSVP: By Tuesday 14 March 2017
  • Light refreshments will be provided