We are currently awaiting the finalisation by the ATO of two draft rulings concerning superannuation:SMSFR 2011/D1 on limited recourse borrowing arrangements (due 16 May 2012) TR 2011/D3 on superannuation income streams (due 26 April 2012)

Income protection insurance is worth considering for all working people. It can pay a proportion of your salary if you are temporarily unable to work because of sickness or injury. We have collected some industry statistics that outline the importance of protecting you and your family.

Australia recently reached a much-ignored economic milestone. At the end of June, the economy marked two decades without a recession.

The Education Tax Refund (ETR) helps with the cost of educating primary and secondary school children. Eligible parents, carers, legal guardians and independent students are able to get money back on education expenses. These include items like computers, educational software, textbooks and stationery. You may get 50% of your money back.

Over two-thirds of Australians made New Years resolutions and more than half of these will focus on finances. With saving more topping the agenda we have some helpful ways to ensure you achieve your 2012 resolution.So how do you set financial goals and stick to them?

Borrowing within your SMSF to purchase property is a strategy that has become a very popular way to boost your investment and achieve your retirement goal. With up to a third of SMSF strategies using gearing, the recent ATO draft rulings are set to make the strategy even more appealing.

The use of finance to leverage ones wealth is the oldest wealth secret of all. Emma Cunningham from Aventree Financial shares her top 10 secrets for Property Investors.

The concessional contribution cap is currently indexed each 1 July, in $5,000 increments. The Government has announced that they will pause this annual indexation until 1 July 2014. This means the standard cap for individuals under age 50 will remain at $25,000 for the 2013 and 2014 financial years, with a potential increase to $30,000 on 1 July 2014.

This month we would like to welcome our new Partner at KMW, Scott Amos.

The global financial crisis (GFC) has led to many retirees experiencing substantial declines in the value of their retirement savings. Members of self managed super funds (SMSFs) in pension phase, in particular, have been hard hit with many having to sell assets in times of market downturn and forced to realise capital losses in order to meet pension requirements. A strategy that is often overlooked is the use of an annuity as part of the SMSFs investment portfolio.

Turn invoices into instant cash Most businesses find cash flow a juggle at one time or another. If your company offers credit terms to your customers, then waiting on payments can put a considerable strain on your working capital. Fifo Capital provides quick, simply and effective finance solutions for small to medium sized businesses. Whether your requirement is $10,000 or $250,000+, they can assist you without the need of property security and in less than 24 hours.

Account based, allocated and market linked pensioners are currently allowed a 25% reduction in their required minimum payment amount. The Government has announced that draw-down relief will be extended for one year.

The festive season is just around the corner and Australians are expected to spend $23 billion this Christmas. It's quite easy to spend up big at Christmas, and overspending can wreak havoc on your finances as well as your stress levels.We've put together the 7 ways to save this Christmas season, so you can wake up on Boxing Day without a credit card hangover!

KMW will be closing from Thursday 22nd December and will re-open on Thursday 5th January. We wish all of our clients a wonderful Christmas. We look forward to working with you again in the new year.Look out for our Christmas card in the mail! Ruby Kent from Sherwood State Primary School won our Christmas card design competition with this wonderful entry.

Whilst most Australians insure their vehicle or home and contents, the one thing to pay for all of these items - their income - is not insured.

Emma Cunningham, Director of Aventree Financial will be sharing her knowledge in our November Boardroom Briefing Session.

ASIC has developed a directory of unlicensed overseas companies that are known to be scamming millions from everyday Australians. If you receive an unusual email or phone call from someone offering you a great investment opportunity or loan, be very wary as you dont want to be the next victim.

In October KMW will be participating in the Australian Red Cross "Big Cake Bake."

You may remember from our previous newsletter that the ATO has recently issued a controversial draft ruling regarding pensions, that if implemented will have potentially serious consequences for pension members and their beneficiaries. This draft ruling has continued to receive significant media attention yet it will be many months until any further guidance is received from the ATO.

In the recent events of global economies and markets, we have an update on the current situation and how it will affect you.

The ATO has recently issued a controversial draft ruling regarding pensions, that if implemented will have potentially serious consequences for pension members and their beneficiaries.