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On this episode of The nestegg Podcast, host Maja and three experts discuss the latest in equities, property investing and super.

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Steve Waters, director of Right Property Group, addresses the booming property market and why he believes stock is due to increase over the next couple of weeks. Steve gives his thoughts on the most buoyant markets and offers tips to those looking to enter the property game.

RMIT’s senior lecturer of finance, Dr Angel Zhong, talks about Musk’s incredible market influence and what’s happening to bitcoin. She also offers up her predictions for bitcoin’s future and touches on the GameStop saga, which has seen US lawmakers interrogate key players.

And lastly, tax and super guru Timothy Munro gives his thoughts on Your Future, Your Super reforms and whether the government should consider enabling Aussies to access their super savings to purchase a house.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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How Trump v Biden will impact your portfolio

By Cameron Micallef

July 16 2020
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Invest

How Trump v Biden will impact your portfolio

By Cameron Micallef
July 16 2020

Global investors are being advised to watch the next presidential election as the outcome could have an impact on portfolio construction and profitability of businesses.

How Trump v Biden will impact your portfolio

By Cameron Micallef

July 16 2020
Share

Global investors are being advised to watch the next presidential election as the outcome could have an impact on portfolio construction and profitability of businesses.

During a recent market update, Hamish Douglass, Magellan’s chairman, CIO and lead portfolio manager, explained how changes to corporate tax rates could impact global investors’ bottom line.

“One of the first things [Biden] will do is roll back some of the tax cuts that were put in place,” he said.

Mr Douglass highlighted that Mr Trump cut the corporate tax rate from 35 per cent to 21 per cent and changed the nature of international taxation for US companies.

“Biden said he will reverse that and increase the corporate tax rate to 28 per cent and he is going to change the nature of some of the taxation of US companies on a global basis.

“That is a negative for profitability, maybe an 8-10 per cent hit to profitability. It’s not enormous, it's not a collapse in markets, but it’s an impact,” Mr Douglass explained.

However, the fund manager explained that it is not as simple as winning the election, with Mr Biden needing to win “the trifecta” of Congress, the Senate and the White House to enforce mass changes.

“It’s not as simple if Biden beats Trump. At the moment, there’s about a 30 per cent chance in betting markets that Biden would take the trifecta,” Mr Douglass said.

“If they don’t win the trifecta, I would say there will be gridlock in Washington, and there won’t be a lot of legislative agenda, and that situation doesn’t bother us at all.”

Mr Douglass pointed out that even if tax reform was passed, its impact on businesses’ bottom line varies depending on sectors in the market.

“The nice thing about owning something like utilities is they get to pass it through, so it doesn’t really have any impact,” Mr Douglass said.

“Non-US businesses have a marginal impact on the tax they pay in the United States, but it’s not that big an issue.”

He also noted that much of the radical policy could be impacted due to needing a 60 per cent majority to pass as well as the state of the economy when the President takes office.

“How far they go ultimately in a recession environment, given it’s going to be a fiscal contraction at the time, will be interesting. But there will be some negativities around profitability,” Mr Douglass said.

Despite having an impact on the market, he noted that they are not panicking about a taxation change, highlighting it is unlikely to cause a market collapse.

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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.