Finance & Fury Podcast

Welcome to Finance and Fury There is a saying that goes hoping for the best but planning for the worst. With the election around the corner, for those wanting to make it for themselves and create financial security may be in for a bit of a shake up Today I want to recap proposed policies, breakdown of the economy and strategies to avoid pitfalls from election results. Recap of policies: Minimum wages and penalty rates reintroduction has an impact on small business sector Taxes has one of the biggest effects Income tax – more tax from the average income tax payer Capital gains – reducing the discount to 25% from 50% impacts risk/return ratio for those investing in capital growth investments Negative gearing – only on new properties impacts investing decisions Family trusts – higher tax on distributions at minimum of 30% rather than the beneficiaries marginal tax rate Franking credits – still in place, but the rebates will go. This still helps to offset tax, but lower incomes for self-funded retirees State