Economic Snapshot – 2015 in Review

Economic Snapshot – 2015 in Review

What happened, Why & the Outlook for 2016

The start of share markets in 2015 replicated the start of 2014 with strong gains in the first quarter which drifted away through volatile movements over the remaining 8 months. Media focussed on a bad year for markets and investors but despite this returns in many diversified portfolios still managed to outperform cash and term deposits illustrating the benefits of long term investing and diversification.

Historically January tends to be a good month as we start a new year with investments, but 2016 has started differently with losses allegedly linked to the Chinese market and the incessant media commentary on China’s economic slowdown however the discipline of looking at economic fundamentals is the only long term way to invest with confidence and as at January 2016 the fundamentals are pretty good.
Although economic reports often focussed on the USA increasing rates and exiting the Quantitive Easing [QE] programme, the things that really changed 2015’s outlook turned out to be developments in the emerging markets, [notably OPEC and China] coupled with the fall in the price of oil which was a major shock to the global economy. This spearheaded the collapse of the Chinese equity market [from record highs] and then the depreciation of the Yuan provoked fears of spreading recession. These events introduced significant volatility.

Interestingly, the Australian economy actually had a better year than envisaged at the end of 2014. Business conditions improved, as did the labour market and arguably the change in Prime Minister helped improve the national mood. The expected depreciation of the A$ also contributed to stronger business conditions and noticeably helped international investments in portfolios. Nevertheless, the transition of growth outside and away from the resources sector remained slow and prospects of a budget surplus have been pushed out even further. From the perspective of overall wealth creation, the housing market performed very strongly in 2015, leading to the introduction of macro-prudential measures to cool speculative activity.

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20 reasons why you should look for a new business accountant

20 reasons why you should look for a new business accountant

by Christian Borkowski

Finding the right accountant to help out with your business’ financials is no easy task. While it’s easy to check their qualifications, it’s harder to know whether they’ll be the right ‘fit’ for your business. And just because an accountant is perfect for another business doesn’t mean it will be perfect for yours. It really depends on what you want out of the relationship.

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Welcome to our new website and blog

Welcome to our new website and blog

As you can see, it’s a whole new look for us at Prime Advisory and signals an exciting new chapter for us, and for you.

Why also for you? Well, we’ll be sharing with you hints, tips and strategies on a range of topics all focused on keeping you on track in your financial affairs. Our aim with the new blog is to publish educational (and, who knows, sometimes even inspiring!) articles to help you get clear on where you want to be financially and by when, and how to achieve your goals.

Make sure you’re subscribed to our email newsletter too, as we’ll let you know when we publish new articles to the blog.

You’ll notice that the site is mobile-responsive so you can read it just as easily on a smartphone or tablet as you can on a laptop or desktop computer.

Let us know if you have questions about anything on our site, or suggestions for topics you’d like to see in our future blog posts. Just get in touch via the CONTACT section on the site.

We’re looking forward to getting a conversation going where you share with us your thoughts, questions and current financial challenges, and we then write articles that will shed light on the topic and provide you with actionable hints and tips.

For those of you in business – let us know what’s lighting your fire in business currently: The new technologies and apps you’re using to manage and monitor your finances? New business models and ways of resourcing your business? Trends in marketing and new ways of promoting your business and attracting new customers?

Whatever it is in terms of achieving your financial & personal or business goals, we want to hear about it!  So, let’s get the conversation started…

Enter into the Comments below your answer to this question: “What is your No.1 business or personal financial challenge at the moment that, if successfully addressed, would make the biggest positive difference to your asset position, cash flow or stress levels? There’s no ‘right or wrong’ answer of course. Your comments will provide us with inspiration for our upcoming blog posts!  Ask away…

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Are you Fair Work compliant?

Are you Fair Work compliant?

Prime Advisory has partnered with Employsure, Australia’s leading workplace relations specialists, to host a free seminar to help you avoid the common issues faced by employers today.

1 in 4 Australian businesses have already dealt with an employment relations issue this year. Don’t let your business feed this statistic.

Discover everything you need to know about remaining Fair Work compliant.

Employsure understands how difficult it can be to navigate your legal responsibilities as an employer. This is where they can help. With some of the best advisers in the business, they will offer practical advice on all things workplace relations.

Take a step in the right direction and book your seat today. Only limited places available.

Topics Covered

Bullying and harassment
Managing leave
Performance management 
Termination 
Key employee entitlements 
Recent Fair Work Act changes

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SuperStream

SuperStream

Are you Compliant? 30 June Deadlines-Act NOW!
MySuper reforms have been introduced and we are now moving to the next phase of the Australian Government’s Stronger Super reforms, designed to strengthen our Superannuation industry, known as “SuperStream”. SuperStream represents the streamlining and standardisation of superannuation contributions made by employers. Employers and super funds will transition to sending and receiving super contributions electronically (eCommerce) in accordance with a consistent regulated Superannuation Data and Payment Standard (the Standard). The goal is to improve the efficiency of the superannuation system and improve the timeliness of processing contributions.
NOW is the time to take stock and plan

Your Obligations

For employers of 20 or more employees, transitions to SuperStream have occurred over the 2015 financial year. If you are an employers with 19 or fewer employees you will need to transition to an electronic means of making super contributions and member updates, which comply with the Standard, between 1 July 2015 and 30 June 2016.
If you are a business client using Xero or have an SMSF on Class, you may already find you are compliant.
For all employers, complying with the Superannuation Data and Payment Standard may mean providing your default and/or choice superannuation fund/s with additional information about your employees.
Need assistance? PrimeAccounting are here to discuss options.for your transistion to SuperStream. Call us now or email michelle@tpag.com.au for more details.
Click on the links below for more information regards SuperStream and registering with the ATO via their Small Business Superannuation Clearing House.

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