The role of Summerhill Financial Services is to provide you with the discipline, structure and control to help you make the most of your income and assets for the future. The aim of financial advice is to determine:
Where are you now?
Where do you want to get to?
How we will help you get there.
The answers to these questions will be different for every individual and will be influenced by your stage in life; generally this broadly falls into three categories:
Summerhill Financial Services is proud to be an approved FPA Professional Practice – the symbol of professional financial planning in our community. As an FPA Professional Practice we comply with the highest ethical and professional standards set by the Financial Planning Association of Australia. We have met their strict and rigorous eligibility and ongoing commitment criteria, including having the adviser, Caroline Bell being a CERTIFIED FINANCIAL PLANNER® practitioner - the highest standard of achievement for financial planners in the world. Learn more about Caroline here.
Latest news and updates
The latest news and information from the Summerhill Financial Services Team
One of the announcements in the Budget was a proposal to means test the net medical expense tax offset. This offset is currently available to anyone who has unreimbursed medical expenses over $2,000 in a financial year, assessed as a family.
The proposals mean that the tax offset will no longer be available to anyone with adjusted taxable income over the Medicare Levy Surcharge threshold which is $84,000 for a single person or $168,000 for a couple or family. In addition, the offset will only be available for eligible medical expenses over $5,000 at the rate of 10% (down from 20%).
Eligible medical expenses include (but not limited to):
most aged care fees
doctor, dentist and optometrist fees
hospital fees
payment for therapeutic treatment administered at the direction of a doctor.
This change is proposed to take effect from 1 July 2012, so if possible, it would be advisable to bring forward any medical expenses if you are likely to exceed the current threshold of $2,000 in the current tax year.
Whether you are thinking about aged care for yourself, or for a parent or parents who may need aged care in the shorter term, the recent Government “Living Longer Living Better” plan will be relevant to you.
The plan was released on 20 April 2012 and was included in last week’s Budget and will potentially have significant implications for those considering moving into Aged Care in the next couple of years. Read the rest of this entry »
I was part of a Study Tour of China in late March, consisting of 15 investment professionals from Australia, the US, the UK and Lebanon to obtain a deeper understanding of China as an investment market. The article was written by a journalist who joined us on the tour which you may find of interest, and can be accessed here.
I am on a Study Tour in China this week, with the aim of increasing my understanding how China and its development is impacting investment markets in both Australia and around the world. We have a financial services journalist on tour with us, and although the article is targeted to advisers, you may be interested in an article written on some of his thoughts of the tour so far….Read the article here.
Legislation has been passed to reduce the private health insurance offset for higher income earners. This change will take effect from 1 July 2012 and may lead to some people reviewing their private health insurance. But as well as the offset reductions, the Medicare Levy surcharge has increased and so the impact of not holding hospital cover should be carefully considered. Read more to see how this may impact you. Read the rest of this entry »
De-facto couples who settled property disputes in the last three years or who entered into binding financial agreements may need to review their legal positions due to an oversight by legislators.
The Family Law Act sets out rules for property divisions and maintenance orders after a relationship breakdown this includes Court orders and Binding Financial Agreements. Until 2009, this Act only applied to married couples as de-facto couples were governed by the various State laws.
However, when the Family Law Act was changed in 2009 and most States transferred powers to the Commonwealth, Proclamations needed to be made to bring the changes into effect and allow the federal family courts to rule on these matters. Due to an oversight, these Proclamations were not made, leaving separated de-facto couples with uncertain legal positions. Read the rest of this entry »
With the number of hybrid securities being issued at the moment, the Australian Securities and Investments Commission (ASIC) has urged investors to exercise caution before investing in hybrid securities and unsecured notes.
Hybrid securities have features of both debt and equity, and have been issued by a number of major Australian corporations, including the big four banks. Given the ongoing volatility in equity markets, many investors are attracted to such investments, which they perceive as offering more reliable returns. Read the rest of this entry »
Wondering what Warren Buffet thinks about investing in bonds, gold and equities in the current climate? The article in the link below may be of interest which was in Fortune magazine over the weekend.
If you have UK pension benefits, or have transferred them in the past, proposed changes to UK law may make this harder to meet and impose greater reporting requirements on QROPS funds, particularly for self managed superannuation funds. Read the rest of this entry »
One of our clients has recently been published with a book titled ‘The Great Life Redesign’, with some content provided by Summerhill Financial Services. Continue reading for more information about this new book.
Life on today’s treadmill is fed by a daily infusion of bad news media stories and society’s expectations, yet the popularity and plethora of lifestyle programs and self-help books show we’re all wanting something more. Conditioned to struggle, we aren’t taught how to find contentment or appreciate what we have.
We’re more time poor and discontented than ever, working longer hours, taking fewer holidays and being reachable 24/7. Productivity is lower and absenteeism is higher than ever, we spend more time and money on commuting than ever before and our health and relationships are suffering.
In The Great Life Redesign, Caroline Cameron not only helps you identify how 21st-century living is impacting you, but what you can do to change your life for the better. Whether you need to make some minor changes to make instant improvements or undertake a major life renovation to realise your dreams, Caroline’s wealth of experience will help you get clear about what it is you want, how to plan for it, how to afford it and how to make it happen. It really is quite simple to achieve and The Great Life Redesign will help you reshape the life you have into one you’ll love.
With practical, easy-to-apply techniques, exercises, tools and tips – including your own life redesign blueprint & a Thrival Kit – plus more than 30 inspirational case studies, you’ll soon be well on your way to a great life. Featuring expert advice from Summerhill Financial Services very own Caroline Bell, you’ll also learn how to crunch the numbers, plan and afford your redesigned life.
Don’t settle for ‘good enough’ – you only have one life, so vow to make the most out of it.
To find out more, subscribe to the blog and get your own personally signed copy, go to www.greatliferedesign.com.au.
Summerhill Financial Services is proud to be an approved FPA Professional Practice – the symbol of professional financial planning in our community. As an FPA Professional Practice we comply with the highest ethical and professional standards set by the Financial Planning Association of Australia. We have met their strict and rigorous eligibility and ongoing commitment criteria, including having the adviser, Caroline Bell being a CERTIFIED FINANCIAL PLANNER® practitioner - the highest standard of achievement for financial planners in the world. 
