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According to chief market strategist at CMC Markets and host of The Artful Trader podcast Michael McCarthy, there are certain investor personality traits that seem to predict success in the share market.

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In this episode of the nestegg Podcast, Michael joins host Grace Ormsby to outline exactly what these characteristics are, the difference between high-risk and low-risk appetites, and how investors can apply different strategies depending on their own personality type.

Michael also explains how fear can be both helpful and a hindrance for confident decision-making, why failure is a crucial process for investors seeking growth, and where budding investors can begin educating themselves about the markets.

Thanks Matthew, for sharing your insights with the nestegg podcast team!

You can keep up to date with what CMC Markets are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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The tax cuts and cash boosters in the works for Australians

By Cameron Micallef · July 12 2019

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Earn

The tax cuts and cash boosters in the works for Australians

By Cameron Micallef
July 12 2019

Reading:

The tax cuts and cash boosters in the works for Australians

By Cameron Micallef · July 12 2019

Reading:

The effectiveness of the Morrison government’s income tax cuts has been called into question, but one tax expert has outlined some of the benefits for millions of Australians.

Speaking with nestegg, senior tax counsel with The Tax Institute, Bob Deutsch, believes the flatter tax brackets will be encouraging for Australian taxpayers.

“I fully endorse anything that is simplified as long as it’s not unfair. The Stage 3 changes, I think, are a very important simplification,” he said.

“The long bracket from $45,000 to $200,000, I think it very much addresses the aspiration desires of Australians,” said Mr Deutsch.

“Millions of Australians will be sitting in that bracket from $50,000 to $150,000. For them, any future pay increase once Stage 3 is in place will not push them into a higher bracket for a long time. I think that is really the key benefit to all of this,” continued Mr Deutsch.

Are the changes fair?

The argument against the Stage 3 tax cuts has been around someone on $46,000 will have to pay the same tax as someone who is making $199,000.

However, Mr Deutsch believes this is simply untrue.

“It’s true they are paying the same marginal rate on the next dollar,” he said.

“Overall, when you add up what happens taking into account all the brackets, the person on $190,000 will be paying significantly more tax,” said Mr Deutsch.

Is this system future-proofed?

The tax profession has long been calling for genuine tax reform to deal with the complexities of the Tax Act and the inefficiencies of some heftier taxes, like stamp duty on property purchases.

Though these changes from the Morrison government don’t necessarily constitute tax reform, they represent some of the tweaks the tax profession has been calling for.

“The system is still progressive even under Stage 3. If you look at the total tax paid at each level of $10,000. It is progressive in the sense that the overall tax rate increases as you go higher and higher.”

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.