Last month, TTO Chartered Accountants welcomed back Patsy Karapas from Midsec Financial Advisors, to present the opening TTO Talks of 2019. Patsy shared her knowledge on the Best Investment Ideas for 2019 & Labor Party Tax Proposals.
With Patsy’s extensive experience in the financial services industry, and having the opportunity to work alongside some of most renowned advisers in the industry, her expertise on investment and tax proposals is very valuable.
Throughout Patsy’s 25 years in the industry, she has learnt to appreciate that each individual and family has a unique personal situation and set of values when it comes to their definition of success, wealth and financial freedom.
Midsec Financial Advisors are the largest non-bank financial planning firm in Adelaide, specialising in investment, self-managed superfunds and risk insurance and hold a wealth of experience in the industry.
Patsy was joined by David Tonellato throughout the presentation, to share his insight on the Labor Party Tax Proposals, providing guests with an understanding of these proposals if a Labor government is voted in.
A snapshot of the insight offered by Patsy and David included:
Our Best Ideas:
- Spend your Risk Budget
- Tilt towards Asia – all international markets are reasonably priced but Asia is where the most growth is going to be
- Some Rental Assets are cheap
- Banks will be banks
- Capital Light Businesses
- There has been much talk recently about housing affordability – property prices were exuberant, but not so much now
- In some markets they may continue to get cheaper
- A housing collapse isn’t likely; this is due to population growth and rising wages, meaning that banks will start lending and interest rates will stay low
- It is quite a good time for young people to enter the housing market – but they may need some help
Labor’s Proposed Tax Policies:
- Excess franking credits will no longer be refunded
- Capital Gains Tax deduction to reduce from 50% to 25%
- Negative Gearing – limited to new housing only
- Trust distributions will be taxed at a minimum of 30%
- More changes to Superannuation
- Talk of slightly higher tax cuts for middle income earners
- There will be Grandfathering – ie no retrospective tax changes
Our third TTO Talks was a successful evening, providing our guests with practical information about the year ahead, and some foresight into their finances if Labor is elected into the 2019 National Election. At TTO Chartered Accountants, we value our people above all else; clients, partners and staff, and look forward to expanding our network and continuing our TTO Talks series in 2019.
If you have any queries in relation to anything covered in the presentation please do not hesitate to contact David or Ray on 08 8211 9426 or email@example.com.