Client update – February 2017

It’s hard to believe it’s February already, with the nation back at work and kids back at school after the summer holidays.

Maiden Gully CFACasual cash quarter

This casual cash quarter we are recognising the hard work that our local firefighters do, especially during the warmer months. We will be supporting our local Lockwood and Maiden Gully Fire Brigades through casual cash donations.

 

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Economic Update:

All eyes were on the US in January, where newly installed President Trump hit the ground running. Markets took this as an encouraging sign that he would follow through on promised tax cuts and infrastructure spending. An encouraging start to the US company reporting season and higher oil prices also boosted confidence, until confusion surrounding immigration policy prompted a late sell off.

In Australia, local shares lost ground over the month despite continued strength in iron ore prices and tame inflation. The consumer price index (CPI) rose by a lower than expected 0.5% in the December quarter, taking the annual rate of inflation to 1.5% from 1.3% previously. This leaves the door open for a potential further rate cut by the Reserve Bank if inflation remains in check.

Also in this issue:

  • Home office deductions explanation
  • Wine Equalisation Tax Rebate changes summarised
  • Tips on how to get your business on track for 2017
  • Venture Financial Advisors raise the topic of education costs
  • What we’ve been up to in the community.

We hope you find this issue informative, should you wish to investigate any of these matters, we encourage you to contact our office.