Technical Basis – Oct 2008

Matthew Esler – General Manager of Strategy & Technical Services
Bill Faraj – Technical Services Manager
Reda Daher – Technical Services Analyst
Justin Labruna – Technical Services Analyst

Welcome to Technical Basis, Midwinter’s financial planning strategy and technical newsletter provided to subscribers of Midwinter’s Reasonable Basis, back2basis & Transition Manager financial advice systems

ASICs announcement to the Parliamentary Committee that they will again be undertaking a Shadow Shopping Super Advice Survey should certainly have sent shockwaves through the financial advice industry this month, and will no doubt lead to some anxious times for financial advisers and dealer group Compliance Managers (not to mention Financial Officers!).

As testament to our unrivalled support of both IFAs and dealer groups, Midwinter are responding to ASICs announcement by offering all financial advisers who have not yet trialled Midwinter’s Reasonable Basis FREE access to the end of November 2008.

If you have friends or colleagues who you think would like free access to the end of November, feel free to forward this link – Midwinter Free Access. Follow the instructions and call 1300 882 938 for your access code.

This month’s Tech Q&A Case Study – Replacing non-deductible debt with deductible debt looks at enhancing wealth through the implementation of an effective debt replacement strategy (debt recycling).

This month’s Technical Article – Optimising your Transition to Retirement Strategy made easy provides advisers with the complete guide to the opportunities and myths surrounding implementing a Transition to Retirement strategy. It specifically highlights that this is a strategy applicable to virtually all clients who are aged 55 and still working. The Transitions module within Reasonable Basis and back2basis systems is the most comprehensive and efficient TTR strategy optimiser in the industry. Advisers using Transitions in both system produce an optimised TTR strategy outcome as either an SOA insert or Limited SOA including comprehensive Retirement GAP Analysis within three minutes per client.

This month’s TechNews – Recontribution Strategy vs Anti-Detriment Payments highlights the positive and negative effects of implementing a recontribution strategy both from an income tax perspective up to age 60 and from an estate planning perspective.

The Law reform section includes What’s Law & What’s Pending – two very handy summary documents keeping you abreast of the latest legislation and regulatory developments affecting all forms of financial planning and advice.

This month’s Tax News contains important information relating to general ATO information, tax determinations and rulings that are of relevance to financial advisers.

If you would like Midwinter’s Technical team to provide clarity on a particular subject please email your requests directly to myself at mesler@midwinter.com.au .