Leo Wealth Pty Ltd

Leo Wealth Pty Ltd Helping by educating, giving great advice, and having a laugh on the way

https://linktr.ee/LeoWealth

Meetings outside of standard business hours, on weekends, and/or at a location of your choosing can be arranged, with advanced notice.

Can you believe it’s almost Christmas again? Where did that year go?! While It’s been a trying year for many with the co...
03/12/2024

Can you believe it’s almost Christmas again? Where did that year go?! While It’s been a trying year for many with the cost of living crisis and high interest rates, I have 5 tips below that can help ease the financial stress that comes with the silly season. 🎅

1. Limit Spending
2. Do a Secret Santa
3. Shop for Bargains
4. Plan Ahead
5. Look up Budget Recipes

Swipe ➡️ for these explained! 🎁

The silly season can be stressful, but hopefully with the right planning and budgeting it can be still be a great occasion for everyone; including the organiser! 🎄

Congratulations on your selection boys, excellent work!
22/03/2024

Congratulations on your selection boys, excellent work!

Bringing back this classic. Did you know you can check the status of your financial adviser? Whether they're active, sus...
04/03/2024

Bringing back this classic. Did you know you can check the status of your financial adviser? Whether they're active, suspended, banned, or were ever an adviser in the first place...

The fiasco highlighted the importance of knowing who is advising you and taking care of your finances. Financial advisers are required to provide you with: their personal adviser number and their licensee's (AFSL) number.

MoneySmart via ASIC has a public adviser register where you can lookup:
• Adviser's name, number, and status;
• Adviser's current and previous appointments;
• Adviser's qualifications, training, and areas of advice that we're able to advise on;
Adviser's memberships to professional bodies; and
• Any disciplinary actions or failures to meet CPD requirements against them.

Easy to access via a Google search for the register, you can find out all you need to confirm whether your adviser is who they say they are. When entrusting your financial future with someone, ensure they're qualified to do so!

Speak to us, today! 🦁

The latest AWOTE figures have been confirmed, resulting in an increase to the superannuation contribution caps, commenci...
22/02/2024

The latest AWOTE figures have been confirmed, resulting in an increase to the superannuation contribution caps, commencing 1 July 2024. The concessional contribution cap will increase from $27,500 to $30,000 and the non-concessional contribution cap from $110,000 to $120,000.

The three year bring forward limits will also increase from $330,000 to $360,000; unless they are triggered prior to 30 June 2024. If they are, then the $330,000 limit will still apply.

The $1.9m total super balance limit is not adjusted by AWOTE, so it has not changed. Therefore, lower sub-limits will apply as these are based on the contribution limit. The following table reflects the changes to occur, compared to now.

I have previously written an article on my site about the difference between concessional and non-concessional contributions; and how each can be adapted into a personalised financial strategy. Reach out to gain a further understanding of how to implement these to improve your long-term financial well-being.

The project that started and stalled! 🏗'Central Coast Quarter' in Gosford and 20 other active construction sites were pa...
16/02/2024

The project that started and stalled! 🏗

'Central Coast Quarter' in Gosford and 20 other active construction sites were paused last week following St Hilliers Contracting going into voluntary administration. This is obviously very concerning for the company and it's employees; but also for the buyers of off-the-plan apartments who may be fretting about their property deposits.

For typical off-the-plan apartment and townhouse builds, a 10% deposit is paid on contract exchange, and then the 90% balance is paid on settlement. So buyers (and prospective future off-the-plan purchasers) may be asking themselves: "So what happens to my money?!"

NSW Fair Trading brought in new protections and statutory remedies for contracts signed on and after 1 December 2019. One key safeguard included: "Deposit monies and any instalments paid under an off the plan contract must be held by the stakeholder (usually the real estate agent) in a trust or controlled money account during the contract period. This money cannot be released to the vendor before settlement, meaning that deposit and instalment monies are protected in the event of the developer's insolvency."

Whilst this does not mean that purchasers will end up with an apartment as planned, it does provide protection to ensure their hard earned deposits aren't lost! Gosford Erina Business Chamber (GEBC) has noted they will make contact with the administrators to ensure they are aware of the significance of this project in Gosford, and are confident there will be a solution.

Are you considering buying off-the-plan? Reach out to Leo Wealth to discuss the advantages and risks of purchasing in this manner and find a solution that works best for YOU!

Late to the party on this one 🏆But Tuesday's are the new Monday's, right? 😅
12/02/2024

Late to the party on this one 🏆

But Tuesday's are the new Monday's, right? 😅

The RBA is shaking things up by reducing their interest rate call meetings from 11 times a year down to 8 times in 2024....
05/02/2024

The RBA is shaking things up by reducing their interest rate call meetings from 11 times a year down to 8 times in 2024. However, instead of only meeting on a Tuesday morning, these meetings will now span across two days. At 2.30pm (Sydney time) tomorrow we should know whether rates will be hiked, cut, or remain paused at 4.35% via announcement. This will then be followed by a 3.30pm press conference with RBA governor Michele Bullock.

With consumer prices only rising 0.6% over the December quarter, and having retreated to 4.1% for the year to December, it would be reasonable for interest rates to remain on hold at this stage. This is in line with thinking of many senior economists and the major banks.

Banks are predicting interest rate cuts will occur later in the year, with CBA estimating a rate as low as 3.60% in December 2024. My own personal view is that we're likely to see a cut or two later in the year, but much more conservative in the speed at which cuts occur, compared to how quickly they rose. I think with continued lowering CPI we may see 4.00% by the end of the year, which is more in line with NAB's prediction of 4.10%.

What are your thoughts on tomorrow's rate decision and for the year ahead?

📈 GUIDED PORTFOLIOS 📈 What are they? Think of them like a managed fund or ETF, except that you have direct ownership, t...
31/01/2024

📈 GUIDED PORTFOLIOS 📈

What are they? Think of them like a managed fund or ETF, except that you have direct ownership, transparency, and choice over the underlying investments. Via our licensee, Leo Wealth is able to offer 5 different GPs which form a suitable strategy for a variety of our clients.

Are you:
• Looking for a diversified or concentrated exposure to Australian equities?
• Wanting transparency and control over your SMSF investments that you just can't get with managed funds?
• Retiring and looking to access income-yielding companies as part of your Growth exposure?
• Receiving an inheritance or windfall and feeling unsure about how to invest your funds?
• Wanting to be guided in your investment decisions, whilst gaining an understanding of the investment decisions along the way?

A Guided Portfolio could be for you. For more information, check out the link in bio, and get in touch with Leo Wealth! We're always happy to help 😊

The government has proposed changes to the currently legislated Stage 3 tax cuts, which are expected to come into effect...
25/01/2024

The government has proposed changes to the currently legislated Stage 3 tax cuts, which are expected to come into effect from the 1st July, 2024. The three key changes are:
● Reducing the 19% tax rate to 16%;
● Reinstating the 37% tax bracket (otherwise legislated to be removed from 1 July), but increase the income band to which it applies; and
● Decreasing the lower threshold of the 45% tax bracket.

We've compared the proposed changes against the legislated Stage 3 tax cuts, noting a preferable outcome for lower to middle income-earners, and retaining a higher tax payable for high income-earners... This definitely highlights the importance of quality tax advice and strategic planning for middle to high earners to maximise their outcome.

What are your thoughts on the proposed changes?

#2025

📆 2024 - the year to get back into social media!Follow and watch this space for refreshed content and staying up-to-date...
25/01/2024

📆 2024 - the year to get back into social media!
Follow and watch this space for refreshed content and staying up-to-date with all things financial. Get in contact to see how Leo Wealth can help secure your future 🌟

I've been too busy to create any meaningful content lately, so here's a as we roll into the weekend instead 😅 ...
05/08/2022

I've been too busy to create any meaningful content lately, so here's a as we roll into the weekend instead 😅

IS YOUR TERM DEPOSIT CURRENT? If you entered a term deposit earlier in the year, it may be worth comparing your current ...
15/07/2022

IS YOUR TERM DEPOSIT CURRENT?

If you entered a term deposit earlier in the year, it may be worth comparing your current rate and remaining term against what's available at the moment. The rising interest rate environment may present an opportunity to better your outcome.

Here's a quick case study: This week I spoke with a potential client about their existing investments. As part of their portfolio they said they had entered a 12 month term deposit in February at 0.80%pa. So they're now 5 months in.
Right now, new term deposits are being offered at 2.50%pa for 6 months or 3.25%pa for 12 months by one of my product providers. I spoke with the client's bank, and we worked out that to break their existing term deposit, we would be penalised 25% of the interest accrued and it would take 31 days to release funds (whilst continuing to accrue interest). We immediately made the request to break the current TD. Here's why:

Let's use $100,000. If they completed the current term deposit at 0.80% over the full 12 months, they would receive $800.
If they terminate their deposit now, they wait 31 days for their capital to be returned. That will be about the 6 month mark, so they will receive $300 ($400 less the 25% penalty). They will immediately reinvest the $100k in a new 6 month deposit at 2.45%pa. Completing this new term they will be paid $1,225. Add back the $300 and that's $1,525 instead of the original $800.

We will almost DOUBLE what they were expecting to receive by simply ensuring their investment remains current. We haven't extended their settlement time frame, nor have we put their capital at any further risk. We simply used our knowledge to balance the outcomes and make the right decision based on their situation and the opportunities available.

This is the type of attention to detail that you can expect from Leo Wealth. Get in touch to see whether your current term deposit or cash-based investment adds up!



NOTE: The above is a case study only, it is not a recommendation. Check T&Cs and speak with a professional!

Address

Suite 15, 2 Ilya Avenue
Erina, NSW
2250

Opening Hours

Monday 8:45am - 5:30pm
Tuesday 8:45am - 5:30pm
Wednesday 8:45am - 5:30pm
Thursday 8:45am - 5:30pm
Friday 8:45am - 5:30pm

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