News

On our news page, you will find the latest financial news, valuable insights and new ideas, tips and tricks we've learnt over the years and other helpful educational pieces.

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A super time of year

By John Barton
With many self-managed superannuation funds (SMSFs) busy finalising their accounts for 2017-18, now is an ideal time of year for trustees to review their fund's portfolio and investment strategies in line with legal requirements and make the changes required to ensure their fund is compliant and on the right track for the coming year.

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MGD announces leadership appointment

Boutique Brisbane-based financial services firm MGD has announced the appointment of Senior Client Adviser, Stanley Feng, to the partnership of the firm, effective immediately.

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ATO car claims crackdown

By Ling Dias
As 30 June approaches, the Australian Taxation Office (ATO) is making it clear that they will be keeping a close eye on work-related car expenses as part of a broader focus on work-related expenses. This article serves as a reminder to taxpayers about what they can and cannot claim for when tax time comes to ensure no penalties are applied for failing to take reasonable care.

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Rotary Art Spectacular Opening Night

The Rotary Art Spectacular, Queensland's largest and most prestigious annual art exhibition, took place last month at Central Plaza One showcasing some of Australia's most exquisite art pieces. Once again, MGD was proud sponsor of the opening night.

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Property Industry Foundation’s 5th annual Charity Sailing Cup

On Friday 18 May, MGD Mad Jack was one of 40 yachts that partook in Property Industry Foundation Brisbane’s 5th annual Charity Sailing Cup at the Royal Queensland Yacht Squadron. The event was a huge success, raising $60,000 net for at-risk and homeless young people.

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Tackling insurance premium hikes

By Andrew Albury
If you’ve experienced a substantial increase in your personal risk insurance premiums in recent times, you’re not alone. Between 2010 and 2017, premiums rose a staggering 54.6%. Last year, they rose 4.84%, meaning the average cost of a family’s insurance policy will be approximately $200 more and likely to be much higher for professionals with significant levels of cover.

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Federal Budget 2018 – Super

Mr Scott Morrison, the Federal Treasurer, handed down his third Budget on 8 May 2018. Mr Morrison said the Budget is focused on further strengthening the economy to “guarantee the essentials Australians rely on” and “responsibly repair the budget”. The Budget contains a range of measures intended to ensure the integrity of the tax and superannuation system. The super highlights include:

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Federal Budget 2018 – Taxation

Mr Scott Morrison, the Federal Treasurer, handed down his third Budget on 8 May 2018. Mr Morrison said the Budget is focused on further strengthening the economy to “guarantee the essentials Australians rely on” and “responsibly repair the budget”. The tax highlights include...

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Federal Budget 2018 – Social Security

The 2018-19 Budget includes a big increase in the number of aged Care Home Care packages, to enable older people to receive increased services in their home rather than in residential aged care. It also includes a number of initiatives designed to encourage older people to remain engaged in the workforce, including changes aimed at older small business owners.

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An important note from MGD

By John Barton
For a long time, Governments of both persuasions have worked to improve the financial planning sector and the quality of financial advice available to Australians - from the Future of Financial Advice reforms that were introduced in 2013 to the Royal Commission that is currently playing out. We have and will always fully support any initiative that leads to better advice and enhanced outcomes for Australians.

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Tax and super planning for end of financial year

With 30 June 2018 rapidly approaching, now is the time to review your financial position and consider any tax or super strategies that could boost your retirement savings, maximise Government entitlements, avoid potential penalties and ultimately, reduce your tax payable.

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What I noticed during the Commonwealth Games

By John Barton
Like most people, I don’t watch a great deal of free-to-air TV anymore. However, this past couple of weeks, I did watch some of the Commonwealth Games and couldn’t help but notice the number of insurance advertisements still on the air. If those TV ads are still running – they must be working, right?

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Understanding Downsizer Contributions

By David Lloyd
In the May 2017 Federal Budget announcement, new legislation was introduced whereby those aged 65 and over will be able to contribute an additional $300,000 into their superannuation upon the sale of their primary residence. These payments are referred to as ‘downsizer’ contributions...

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Understanding The First Home Super Saver Scheme

By Alec Berry
With housing affordability becoming increasingly challenging, many first home buyers are trying to best manage their path to the goal of owning property. To assist with these efforts, starting on 1 July 2017 a new initiative was introduced for Australians looking at getting themselves into the property market.

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The last taboo

By John Barton
It wasn’t that long ago that most us considered religion, money, sex, politics and death pretty much off-limits when it came to polite conversation. They were no-go topics almost everywhere. Today, most of us talk fairly openly about all these subjects – all bar one that is. The exception for most of us is money!

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Making sure control of your SMSF falls into the right hands

By Andrew Albury
There are a number of important elements that, when planned, implemented and reviewed correctly and regularly, work together to make a self-managed superannuation fund (SMSF) operate successfully. One of the most critical, and often overlooked, of these, is succession planning.

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Smart money options for the New Year

By Alec Berry
The investment return outlook is relatively subdued for the next five years following a strong post-GFC rally. This means that now might be an ideal time to take advantage of alternative strategies available to you. So, before diving into 2018 and investing in riskier investments in the hope of gaining those higher returns, now is a good time to consider what other options you have on the table.

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