Geopolitically the world appears to be sliding into greater uncertainty.
Are you so interested in the potential increase in the value of your home or the fluctuating value of your shares that you are forgetting about ‘how best to put food on the table’ from good long term income producing dividends? A serious medium to long term investor striving to become financially independent would prefer to rely on the income from dividends rather than the daily fluctuations in share prices.
We keep being bombarded by missives of uncertainty, volatility, slowing economic growth around the world and faltering levels of consumer confidence.
Changes by the ATO affecting the 2016 Individual Tax Return: New reporting rules for claiming new tax discount for individuals with income as sole traders, partners & beneficiaries New guidelines for claims for mobile/home phones, internet and electronic devices New ruling for landlords of units, flats, apartments claiming deductions for common property but crackdown on repairs & interest claims New rules streamlining car expense claims methods New reforms limit claims for key offsets – dependant spouse, zone and medical expenses Crackdown on work related and self-education claims Other changes relating to residency, dependant & invalid carer tax offset and Medicare levy concessions & exemptions
Generation Y, the up and comers, the millennials, those born in between 1981-’95 fall into this bracket.