Latest News

We all get bombarded with information from every source possible and frankly, it's too much. Even if you haven't already flicked it into spam you probably don't have time to read it. We call it Information Overload. So, on this page we've selected big picture news items we think are relevant and of interest to our clients.

Monday, May 28, 2018

As tempting as it is, loaning money to family and friends is fraught with danger. The interest rate may be low, but emotional costs can be high. Getting the right documentation in place is the best protection.

At our most calm and logical, most of us would say that lending money to friends is rarely a great idea, and lending money to a family member is among the worst of ideas – but calmness and logic are not what most families are about.

Wednesday, May 09, 2018

Last night the Federal Government handed down the 2018-19 Federal Budget. The centrepiece of the Budget was a seven-year personal income tax strategy, beginning with reductions for low and middle-income earners in the 2018-19  year. It also focused on reining in spending, tax cuts for small to medium enterprises, and on assisting older Australians.

Monday, May 07, 2018

Planners provide their views on what has been the best ‘unexpected’ business tip or advice they have received that has helped them professionally.

Thursday, May 03, 2018

Financial Standard's latest roundtable event turned attention to how fund managers, financial advisers, researchers and analysts build investment portfolios for market crises.

SQM Research head of research Robert da Silva says behavioural insights over the past decade show people do not always act rationally in times of market crises and make decisions which "are not necessarily in their best interests."

His point being that while staying the course might be in someone's best interests, the challenge is to educate them and convert them to go against natural instinct - which is to react to everything.

For advisers to "stay the course", WLM Financial Services director Matthew Walker says it comes down to individual investment philosophies and where advised clients are starting from.

Monday, April 30, 2018

We’re all being bombarded with startling revelations out of the Banking Royal Commission being run by the government at the moment. Amazingly, there are many instances of inappropriate advice and generally illegal or unethical advice. We at WLM are shocked and disheartened by what is being revealed. How is it possible in this day and age? How can people treat their clients like this? What have the regulators been doing?

It also comes to the heart of why we set up WLM and how we run our business. We care about our clients and making sure we act in your ‘best interests’. It’s at the core of everything we do and believe. 

Wednesday, March 28, 2018

Life doesn’t revolve around money. Lots of other things - like family, friends, and health - can be much more important to you than your bank balance. But some personal goals are hard to achieve if you don’t have much money. That’s why the Financial Planning Association (FPA) has put together a handy guide to getting to grips with the do’s and don’ts of your finances. This new eBook entitled “Money & Life” is to help everyday consumers improve their financial well-being.

Wednesday, March 28, 2018

Did you know that hundreds of years ago in England the bread was divided according to status? Workers got the burnt bottom of the loaf, the family got the middle, and guests got the top, or ''The Upper Crust''.

Wednesday, March 28, 2018

Your superannuation trust deed along with the superannuation laws form the governing rules that self-managed super funds (SMSFs) need to operate by. The introduction of the $1.6 million transfer balance cap (TBC) and new transition to retirement income stream (TRIS) rules are a ‘game changer’ for SMSFs when discussing benefit payments and estate planning. With the new super rules in effect as of 1 July 2017, now is the right time to review if your trust deed needs to be enhanced or amended to deal with the new approaches and strategies you may need to implement.

Wednesday, March 28, 2018

Where a member’s Total Super balance is in excess of $1 million, a SMSF will be required to report to the ATO quarterly from 28 October 2018.  

TBAR requires commutations and establishments of super pensions to be reported in the month and quarter after they occur. This is a dramatic tightening of the current rules, where pension transactions are often reported nearly two years after the SMSF annual return is lodged.

Wednesday, March 28, 2018

In one of the most dramatic changes to property depreciation legislation in more than 15 years, Parliament passed the Treasury Laws Amendment (Housing Tax Integrity) Bill 2017.

The new legislation means owners of second-hand residential properties (where contracts exchanged after 7:30pm on the 9th of May 2017) will be ineligible to claim depreciation on plant and equipment assets, such as air conditioning units, solar panels or carpet.