Financial and Taxation Advice for Aviation Professionals

Over the last 45 years, MGD has taken pride in helping self-funded retirees, business owners, and executives structure and manage their financial affairs. A key focus area for more than two decades has been assisting senior members of the aviation industry, both in Australia and abroad, achieve their financial and lifestyle goals.

We advise on and implement robust and resilient financial strategies for aviation professionals

Unlike most other professions, the financial advice needs of aviation professionals are more specific to the particular circumstances of occupation, industry structure, and terms of employment. Seniority, industry exposure to cyclical economic volatility, and, in some instances, the ongoing requirement to meet high medical standards, play a major role in employment, employability, and financial success.

Our work with current and former aviation professionals has enabled us to develop a deep understanding of the unique opportunities, complexities, and challenges exclusive to your line of work. Over the years, we have helped people employed by Ansett (as the airline collapsed in 2001), Qantas Group, Cathay Pacific, Cathay Dragon, Qatar Airways, Emirates, Singapore Airlines, and Virgin Australia.

The unfolding COVID-19 pandemic has caused a great shift in the operating environment, with the aviation industry having been heavily affected by the broader economic impacts of the global health crisis. We know that for many, the broader crisis in aviation has led to specific and ongoing personal financial challenges. Through 2020, we helped many aviation professionals implement smart strategies to stay on track through stand-down. For others, we helped them transition to retirement or alternative career paths after a large number of industry redundancies.

How can we help you?

Achieving personal financial goals requires focus. We help our busy clients refine their goals and objectives, and propose strategies to meet them. We begin with a full assessment of your current position and with our experience and detailed financial modelling, we identify the most effective strategies for your financial success.

We also offer project management support with respect to investment strategy and implementation to help ensure your personal balance sheet is aligned to your goals and objectives at all times.

Tax management plays a critical role in your overall financial strategy as it ensures you get to keep more of what you earn, whether that is active or passive income or capital gains. Our taxation specialists can help you understand your tax obligations and employ the most appropriate strategies to reduce tax.

We have strong capabilities in complex tax matters, including business and entity related advice, self-managed superannuation funds, as well as international tax matters, particularly where Australian expats are planning on returning to Australia.

We have a deep understanding of Australian superannuation and factors specific to aviation, including using superannuation to hold life insurance, and the workings of foreign provident funds and Qantas Superannuation Defined Benefit Divisions. Leading up to and throughout retirement, you can potentially save Australian income tax and increase the longevity of your capital by employing specific superannuation strategies. We can advise you on strategies and products suited to your circumstances and goals that will enable you to build up capital sheltered in a tax-free environment when you retire.

Depending on your circumstances and how these have changed over the years, you may now have too little or too much life insurance and/ or are perhaps paying unnecessary premiums. Over the years, we have built a comprehensive understanding of loss of licence and disability benefits, enabling us to help you understand your need for insurance and the options available to you, and work with you to integrate insurances into your overall strategy to limit the financial impacts of medical disability.

A robust financial plan also considers the effective distribution of your assets upon your passing and we are able to facilitate estate planning document production with lawyers on your behalf, or refer you to one of our trusted referral relationships where there is some added complexity.

For those where it is appropriate, our advisers are able to project manage the financial aspects of your life while you are still employed or after you have retired. On this basis, you will have direct contact with your trusted wealth management adviser and team of support staff to assist you with queries, issues, or reassurance. Key benefits of this arrangement include;

  • Project management of your financial affairs,
  • Access to professional advisers to enhance decision-making, particularly through challenging periods,
  • Peace of mind that your finances are structured to meet your unique objectives, and
  • Increased time to do the things that are most important to you.

You MGD Wealth Team (International, Executive, and Aviation)

Richard Marsden

Director

International and Executive

Rachel Barlow

Senior Client Adviser

Wealth

Ronan Zille

Principal Adviser

Sydney

Alec Berry

Client Adviser

Executive and Aviation

Colin Yi

Client Adviser

Risk and Succession

You MGD Tax Team (International, Executive, and Aviation)

Charlie Vincent

Manager

Tax Advisory

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