2016 – An interesting year so far – much more to come!!!!

• Many of our clients do not have a “will” or a power of attorney in place.
• Many, particularly those in big super funds, have not completed a “binding death benefit nomination” form – this is a must, especially as you get older.
• Everything changes as you get older.
• No one likes gathering data for a tax return, and that includes businesses. For a business, knowledge is power – data allows decisions to be made. Lack of data or late data often leads to poor planning and failure.
• People in general do not like retrospective laws and changes to super rules, brought down in the 2016 Federal Budget, were very unpopular.
• People don’t like the idea of paying more to go to the doctor.
• Most people, in business and employment, try very hard to live within their means/income.Governments of late do not understand that concept.

Do not believe everything you read.

• The Australian Electoral Commission gave all voters the wrong information on how to vote. The “you must number” 1 to 6 or 1 12 etc on a senate paper vote was wrong. Wrong!!!!
• Informal vote numbers on 2 July will set new records.
• A new election should be held.
• The rest of 2016 will be economically volatile and politically turbulent.
• Much of what was proposed in the May 16 Budget may never come to pass.

Favourite quotes in my reading this year:

“To learn who rules over you, simply find out who you are not allowed to criticize”

Voltaire

“Socialism is great until you run out of other people’s money”

Margaret Thatcher

Happy New Year from the team at AVD CPA.