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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss whether owner-occupiers should withdraw from the property market, the effects of Tuesday blues on the ASX, upcoming super changes and more.

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Steve Waters, director of Right Property Group, chats about current property price movements and whether owner-occupiers are being priced out of the market.

RMIT’s senior lecturer of finance, Dr Angel Zhong, delves into the Tuesday blues effect and the implications for Aussie investors.

And lastly, tax and super guru Timothy Munro talks about upcoming super changes and shares his handy checklist ahead of tax time.

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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Are you being priced out of the market? Have you got the Tuesday blues? And are ...

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There is $17.5 billion in lost and unclaimed super across ...

Retirement

Preparing for the Medicare levy increase

By Killian Plastow

May 16 2017
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Retirement

Preparing for the Medicare levy increase

By Killian Plastow
May 16 2017

Australian’s hip pockets are set to take a hit in 2019 if the proposed increase to the Medicare levy outlined in the federal budget passes the Senate, according to State Street Global Advisors.

State Street, Global Advisors, Medicare levy, Scott Morrison, ScoMo, federal budget, budget 2017, Mark Wills,

Preparing for the Medicare levy increase

By Killian Plastow

May 16 2017
Share

Australian’s hip pockets are set to take a hit in 2019 if the proposed increase to the Medicare levy outlined in the federal budget passes the Senate, according to State Street Global Advisors.

The proposed 0.5 per cent levy increase was announced in the federal budget on 9 May and will mean people “have less money in their pockets” from 2019 onwards, State Street Global Advisors head of investment solutions group for the Asia-Pacific region, Mark Wills, says.

“This means less economic activity,” Mr Wills told Nestegg.com.au.

He expects the prospect of an increased Medicare levy will affect Australians in the same way many seasonal trends affect broader economic activity.

“Most seasonal patterns are grounded in some type of cash flow. Tax refunds and lodgements, dividend payments, annual bonuses, festivals and weather are all drivers of cash flows. In the short term, people impound these cash flows into their thinking,” Mr Wills said.

He added that the new levy is akin to “an inverted version of cuts to the aged pension”.

“Many planners tell their younger clients that the government wants to phase out the aged pension and this is discussed in the entire edifice of the superannuation system. If people start to think they’re not going to get the pension, if they want to provide for their future [they] will invest more in super.

“The Medicare levy rise does exactly the same thing. I will have less in the future to spend so I will make the adjustment now.”

Mr Wills said this behaviour is not only “totally rational” but practical and even necessary for many Australians given the current low-returning investment environment.

“Our forecasted returns for a multi-asset portfolio have been falling for several years and unfortunately so have realised returns,” he said.

“The income for retirees is now lower and to make their nest egg last, they can either reduce their spending or plan to run out of money.”

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