Along with this raft of legislative change, the Australian Securities and Investments Commission (ASIC) has also introduced new licensing requirements for accountants who work with and advise Self Managed Superannuation Fund (SMSF) Trustees. Only approx. 10% of accountants have complied with these changes to date.
As such if you, as many, consider your accountant would be your 1st port of call for Financial Advice, they will likely advise you, they are unable to provide the information you require & should consult a qualified Financial Adviser / Planner.
This is general advice only and you should seek expert financial advice from a qualified financial adviser before acting on any of the information covered in these topics.
There are many positives moving forward for investors in the Australian sharemarket.
Over the last 100 years, the Australian sharemarket has provided on average 10% plus returns. This ranks as one of the best of any developed countries in the world and this status is likely to continue for a number of reasons:
- Australia has a growing population and solid demographic profile. This will drive long term growth in the demand for goods and services.
- Australian state capitals consistently rank amongst the most liveable cities in the world.
- Australia has a stable democratically elected government.
- Australia has a highly regarded compulsory education system.
- Australia has an independent central bank, and a federal government in a relatively strong financial position.
- The taxation system, in the main, encourages innovation, while protecting the most needy members of society.
- Australia is resource rich and conveniently located near some of the fastest growing economies in the world.
“Expect problems, and eat them for breakfast.” – Alfred A Montapert.