Assignment Directions
\nAssignment marks: 95 | Analysis and referencing marks: 5 Whole marks: 100
\nWhole phrase restrict: 7,000 phrases
\nWeighting: 50%
\nYour assignment should be loaded into KapLearn by 11.30 pm AEST\/AEDT on the due date.
\nDiscuss with \u2018Time remaining\u2019 on the \u2018Assignment\u2019 web page in KapLearn to make sure you submit your assignment by the specified due date and time.
\nStudying outcomes (LO) mapping Marks
\nLO1 Analyse superannuation buildings and methods for numerous shopper conditions 25
\nLO2 Clarify the taxation implications of superannuation methods for contribution, withdrawal and insurance coverage at the fund stage 10
\nLO3 Analyse superannuation retirement earnings stream methods based on their advantages, tax implications and social safety remedy as they relate to totally different shopper conditions 10
\nLO4 Formulate methods to maximise superannuation advantages and purchasers\u2019 entitlements to social safety advantages and aged care 30
\nLO5 Talk about the benefits and drawbacks of fairness launch schemes as a supply of retirement earnings 5
\nLO6 Design superannuation methods in respect of divorce, chapter and dying advantages 5
\nLO7 Develop a compliant assertion of recommendation (SOA) 10
\nAnalysis and referencing 5
\nWhole marks 100
\nDoc classification: Confidential
\nAssignment particulars
\n\u2022 This assignment covers Matters 1 to 12 and accounts for 50% of your last grade.
\n\u2022 Marks will be awarded for analysis and referencing.
\n\u2022 Your total mark for this assignment will be rounded to the nearest complete quantity.
\n\u2022 Phrase restrict: Your response to the assignment duties should not exceed 7,000 phrases, excluding appendices. Marks will solely be awarded on your assignment response as much as the phrase restrict, plus 10% for the total assignment. Any materials written in extra of the restrict is not going to be eligible for marks consideration, so you will need to be not solely communicative but in addition concise and selective in the method of your responses. Numerical tables, calculations and reference lists aren’t included. For extra info on phrase counts and their rationale, go to Assessment Assignment Assessment Preparation Information.
\n\u2022 Assignment construction:
\n\u2013 Pattern Assertion of Recommendation: You might use the pattern case examine and pattern Assertion of Recommendation, as a information, to help you in formatting your SOA in a Phrase doc. Any use of templates, software program, merchandise really helpful, and impartial analysis will need to have in-text citations and be included in your reference record.
\n\u2013 You might seek advice from the broad construction of the pattern assertion of recommendation supplied in Subject eight Additional assets. It’s designed as an example minimal requirements for this assignment.
\n\u2013 High quality of recommendation and proposals: High quality of recommendation and proposals are to be in your individual phrases. Reference and cite all of your sources (inside the textual content of your reply) when quoting or utilizing materials from exterior sources. Embody a reference record at the finish of your assignment. \u2013 Please be sure to present a reference record that adheres to the Harvard referencing model.
\n\u2013 Disclosures and warnings: Disclosures and warnings are necessary. Charges should be disclosed precisely in each share and greenback phrases and adjust to ASIC regulatory pointers on disclosures. Discuss with the format contained in the pattern SOA positioned in \u2018Subject eight, Additional useful resource three\u2019.
\n\u2013 Product disclosure statements: When you reference a PDS or different prolonged hard-copy product doc in your SOA, you don’t want to bodily present that doc along with your SOA.
\n\u2013 Authorisation: You’re authorised to supply recommendation on all areas on which the purchasers have requested recommendation. Marks will be deducted for those who purposely prohibit your authorisation in response to an assignment.
\n\u2013 Appendices: Full workings should be proven for all calculations. The appendices part of the SOA should include these calculations, together with any supporting documentation, for instance assumptions; tax, money circulate and any social safety calculations; project ( help with nursing paper writing from experts with MSN & DNP degrees)ions; charts; and referencing. Be sure that your appendices are appropriately referenced in the physique of the plan and labelled appropriately. State all assumptions utilized in offering your reply.
\n\u2013 Use of software program: You might use monetary planning software program to help in modelling strategic choices for the purchasers and for getting ready the SOA. Please personalise the content material and be sure that it’s clear, concise and efficient and conforms to the structural pointers for an SOA contained inside
\nSubject eight and the pattern SOA. Your SOA doc should be formatted and introduced in an expert method that will be acceptable to supply to a shopper.
\nWhen you use software program, please be sure that you embody in the reference record the software program supplier title, software program model quantity, Licensee Identify and Licensee Quantity.
\n\u2013 Instance reference record
\ninsert software program title insert yr insert model quantity , Insert Licensee title and quantity ,
\ninsert title of software program supplier
\nXplan 2021 v12, ABCFinplanning lic: 123451, Iress Ltd.
\n\u2022 Mark allocations: Mark allocations are famous beside every a part of the SOA in the Standards-Primarily based Marking Information. Use these allocations to help along with your allocation of time and assets. The weightings point out the relative significance of every part.
\n\u2022 Marks will be deducted if content material supplied, equivalent to an adviser\u2019s title, apply title and licensee particulars, will not be correctly mirrored in the SOA. Don’t use your actual title or your employer\u2019s title. For this case examine, you’re a senior monetary planner and principal of All Out Monetary Planning, a boutique monetary planning apply licensed by ABC Monetary Options Pty Ltd (AFSL 222222).
\n\u2022 Discuss with the Standards-Primarily based Marking Information for pointers on what is predicted for every Question Assignment.
\n\u2022 State all assumptions utilized in offering your reply.
\nInsurance policies
\n\u2022 The general phrase restrict for the assignment is 7,000 phrases. Marks will solely be awarded for solutions as much as the phrase restrict (plus 10%) for the total assignment. Any materials written after this is not going to be counted in direction of your mark for that Question Assignment. Headings, quotes and references inside the physique of the reply are included in the phrase depend. Numerical tables, calculations, and reference lists aren’t included. For extra info on phrase counts and their rationale, go to Assessment Assignment Assessment Preparation Information.
\n\u2022 The Assessment Preparation Information comprises details about format and presentation, phrase limits, citations and referencing, collusion, plagiarism and different insurance policies, helpful assets, submitting your assignment and accessing your outcomes.
\n\u2022 Solutions are to be in your individual phrases. Reference and cite all of your sources (inside the textual content of your reply) when quoting or utilizing materials from exterior sources. Embody a reference record at the finish of your assignment.
\n\u2022 Comply with the Harvard referencing model as really helpful in Kaplan Australia: Harvard Referencing Information positioned on the \u2018Referencing and Analysis\u2019 web page in the \u2018Construct Your Abilities\u2019 hub in KapLearn.
\n\u2022 Requests for particular consideration or info pertaining to particular consideration written in the physique of the assignment is not going to be thought of by the assessor. Discuss with the
\n\u2018particular consideration\u2019 part of the Assessment Coverage on Kaplan\u2019s web site for extra info.
\nAssignment analysis and referencing (5 marks)
\nYour assignment should be introduced in a transparent and acceptable format, with all sources appropriately referenced and cited.
\nYou’re required to:
\n\u2022 construction a transparent response to every Question Assignment, utilizing headings if required
\n\u2022 guarantee tables or graphs are clearly labelled and readable
\n\u2022 clearly set out calculations or workings, the place they’re required
\n\u2022 adhere to the assignment phrase restrict
\n\u2022 comply with the Harvard referencing model as really helpful in Kaplan Australia: Harvard Referencing Information (out there from the \u2018Construct Your Abilities\u2019 hub in KapLearn) to quote sources all through your assignment, and supply a reference record at the finish.
\nStandards-Primarily based Marking Information for analysis and referencing
\nThe Standards-Primarily based Marking Information (CBMG) supplied at the finish of every Question Assignment is designed to help you to know what is predicted of you in every Question Assignment and to let you understand how your efficiency will be judged. It supplies recommendation about the standards utilized in the marking of the Question Assignment and what discriminates between a wonderful, passable and unsatisfactory reply.
\nThe under CBMG outlines the expectations for presentation and referencing on this assignment.
\n1. Analysis and referencing
\nGlorious Passable
\n\u2022 clear and acceptable assignment format and construction
\n\u2022 clear proof of impartial analysis and Assessment all through assignment
\n\u2022 acceptable use of referencing
\n\u2022 correct use of Harvard referencing model
\n\u2022 complete reference record supplied \u2022 ample assignment format and construction
\n\u2022 some proof of impartial analysis and Assessment
\n\u2022 acceptable use of referencing
\n\u2022 use of Harvard referencing model
\n\u2022 reference record supplied
\n(Vary: four\u20135 marks) (Vary: 2.5\u2013three.5 marks)
\n\u2022 compliant and clear presentation, and acceptable and clear wording to mirror all important components
\n\u2022 cowl sheet consists of full particulars of minimal necessities
\n\u2022 full distinct warnings and disclosures supplied
\n\u2022 clear, legitimate and compliant clarification of foundation for suggestions \u2022 compliant and acceptable wording to mirror all important components
\n\u2022 cowl sheet consists of ample particulars of minimal necessities
\n\u2022 ample warnings and disclosures supplied
\n\u2022 ample and compliant clarification of foundation for suggestions
\n(Vary: 7\u201310 marks) (Vary: 5.zero\u20136.5 marks)
\nUnsatisfactory
\n\u2022 poor assignment format and\/or construction
\n\u2022 assignment is considerably below or over the phrase restrict
\n\u2022 no demonstrated impartial analysis or Assessment
\n\u2022 no use of references
\n\u2022 referencing doesn’t use
\nHarvard referencing model
\n\u2022 no or insufficient reference record supplied
\n(Vary: 5 marks)
\n(Vary: zero\u20132.zero marks)
\n2. Compliance
\n\u2022 non-compliant and incorrect particulars and inadequate\/lacking important components
\n\u2022 no cowl sheet or it consists of insufficient particulars of minimal necessities
\n\u2022 few or no clear warnings or disclosures supplied
\n\u2022 inadequate or invalid clarification of foundation for suggestions
\n(Vary: 10 marks)
\n(Vary: zero\u2013four.5 marks)
\nthree. Government abstract\/ abstract of suggestions
\nGlorious Passable
\n\u2022 glorious and concise abstract
\n\u2022 concise inclusion and protection of important components pertinent to shopper SOA \u2022 ample abstract in size
\n\u2022 important components of shopper SOA coated
\n(Vary: 6.5\u2013eight marks) (Vary: four\u20136 marks)
\ncorrect, clear and full description of shopper\u2019s private particulars and current place clearly based mostly on most key legitimate components ample description of shopper\u2019s private particulars and current place sufficiently based mostly on many key legitimate components
\n\u2022 clearly matched to shopper\u2019s expectations
\n\u2022 clear, correct and reasonable identification of monetary goals clearly based mostly on shopper\u2019s monetary place \u2022 adequately matched to shopper\u2019s expectations
\n\u2022 ample believable identification of monetary goals adequately based mostly on shopper\u2019s monetary place
\n\u2022 logical, particular and clearly justifiable assumptions clearly based mostly on key components \u2022 ample and justifiable assumptions adequately based mostly on key components
\n(Vary: 10.5\u201313 marks) (Vary: 6.5\u201310 marks)
\n\u2022 logical recommendation on asset allocation which clearly aligns with shopper threat profile
\n\u2022 recommendation based mostly on comparability of present asset funding \u2022 ample recommendation on asset allocation which adequately aligns with shopper threat profile
\n\u2022 recommendation adequately based mostly on comparability of present asset funding
\n(Vary: four\u20135 marks) (Vary: 2.5\u2013three.5 marks)
\n\u2022 plan clearly meets shopper requests
\n\u2022 plan clearly addresses all objectives and goals or moderately explains why not
\n\u2022 post-implementation Assessment clearly connects to suggestions \u2022 plan clearly meets shopper requests
\n\u2022 plan addresses most objectives and goals and\/or gives some affordable explanations why not
\n\u2022 post-implementation Assessment principally connects to suggestions
\n(Vary: four\u20135 marks) (Vary: 2.5\u2013three.5 marks)
\n\u2022 abstract is wordy and never concise
\n\u2022 inadequately covers important components pertinent to shopper SOA
\n(Vary: eight marks)
\n(Vary: zero\u2013three.5 marks)
\nfour. Current place\/ details about shopper
\ninvalid, unclear or incomplete description of shopper\u2019s private particulars and current place insufficiently based mostly on key legitimate components
\n5. Monetary goals
\n\u2022 poorly matched to shopper\u2019s expectations
\n\u2022 invalid or incomplete identification of monetary goals inadequately based mostly on shopper\u2019s monetary place
\n6. Assumptions
\n\u2022 illogical, unclear assumptions with little or no foundation on key components
\n(Vary: 13 marks)
\n(Vary: zero\u20136 marks)
\n7. Threat profile and asset allocation
\n\u2022 poor recommendation on asset allocation with little or no alignment with shopper threat profile
\n\u2022 recommendation inadequately and insufficiently based mostly on comparability of present asset funding
\n(Vary: 5 marks)
\n(Vary: zero\u20132.zero marks)
\neight. Plan thought by and meets objectives
\n\u2022 plan doesn’t meet all shopper requests
\n\u2022 plan doesn’t tackle all objectives and goals nor moderately explains why not
\n\u2022 post-implementation Assessment doesn’t or solely
\npartially connects to suggestions
\n(Vary: 5 marks)
\n(Vary: zero\u20132.zero marks)
\n9. High quality of recommendation and
\nsuggestions
\nGlorious Passable
\n\u2022 high-quality recommendation supplied, particularly related to shopper questions inside the SOA
\n\u2022 recommendation clearly and skilfully integrates particular details about shopper scenario and consideration of key points
\n\u2022 logical, strategic and totally reasoned plan which clearly considers
\nresults of
\nsuggestions
\n\u2022 plan clearly aligns with shopper objectives \u2022 ample high quality recommendation supplied which applies to shopper questions inside the SOA
\n\u2022 recommendation adequately applies details about shopper scenario and a few consideration of key points
\n\u2022 adequately reasoned plan which sufficiently considers results of suggestions
\n\u2022 plan adequately aligns with shopper objectives
\n(Vary: 30\u201340 marks) (Vary: 20.zero\u201329.5 marks)
\n\u2022 complete clarification of the want and justification for service
\n\u2022 implementation schedule, together with all related steps
\n\u2022 complete notice about sustaining the SOA
\n\u2022 all charges and prices disclosed absolutely
\n\u2022 acceptable authority to proceed with all related info
\n\u2022 all acceptable warnings included \u2022 ample clarification of the want and justification for service
\n\u2022 implementation schedule, some steps included
\n\u2022 ample notice about sustaining the SOA
\n\u2022 some charges and prices disclosed absolutely
\n\u2022 ample authority to proceed with some related info
\n\u2022 some acceptable warnings
\n(Vary: three\u2013four marks) (Vary: 2\u20132.5 marks)
\n\u2022 poor recommendation supplied with little or no relevance to
\nshopper questions inside the SOA
\n\u2022 recommendation has little or no software to details about shopper scenario and\/or consideration of key points
\n\u2022 poorly thought by plan which inadequately considers results of suggestions
\n\u2022 plan has little or no clear alignment with shopper objectives
\n(Vary: 40 marks)
\n(Vary: zero\u201319.5 marks)
\n10. Ongoing service and Assessment
\n\u2022 insufficient\/no clarification of the want and justification for service
\n\u2022 implementation schedule with minimal\/no steps included
\n\u2022 insufficient\/no notice about sustaining the SOA
\n\u2022 no charges and prices disclosed absolutely
\n\u2022 insufficient authority to proceed
\n\u2022 minimal\/no acceptable warnings
\n(Vary: four marks)
\n(Vary: zero\u20131.5 marks)
\n11. Total SOA construction and
\npresentation of
\nSOA
\nGlorious Passable
\n\u2022 SOA is logical, simple to comply with and effectively structured, and would be understood and valued by the shopper
\n\u2022 important sections
\n(e.g. cowl sheet, desk of contents and many others.) are included
\n\u2022 materials inside sections is evident and full
\n\u2022 any tables or diagrams are clear and straightforward to know
\n\u2022 any supporting materials is important to understanding the plan and referenced inside the plan \u2022 SOA in all fairness effectively structured and would be helpful to the shopper. Some points missing clear communication
\n\u2022 important sections
\n(e.g. cowl sheet, desk of contents and many others.) are principally included
\n\u2022 materials inside sections is usually ample and full
\n\u2022 any tables or diagrams are clear and straightforward to know with minor errors
\n\u2022 any supporting materials is helpful to understanding the plan and referenced inside the plan
\n(Vary: 7\u201310 marks) (Vary: 5\u20136.5 marks)
\n\u2022 SOA is poorly structured and would be complicated to
\nthe shopper. Missing in its communication of vital points
\n\u2022 important sections
\n(e.g. cowl sheet, desk of contents and many others.) aren’t included
\n\u2022 materials inside sections is insufficient and incomplete
\n\u2022 any tables or diagrams are incomplete, unclear and complicated
\n\u2022 any supporting materials is incomplete, irrelevant or incorrect with little or no right referencing
\n(Vary: 10 marks)
\n(Vary: zero\u2013four.5 marks)
\nAssignment background
\nThe assignment for FPC003 consists of 1 (1) case examine. You’re to analyse the quantitative and qualitative info supplied about purchasers Paul and Sandra McCann and produce an announcement of recommendation (SOA). The SOA should tackle the McCanns\u2019 objectives and goals and incorporate the responses to varied questions they’ve posed to you as their adviser.
\nDiscuss with Subject eight and the pattern SOA in the on-line assets for steerage on the construction and format of your SOA.
\nYou’re required to deal with all the questions and key retirement points raised by the shopper under.
\nReadability and conciseness in the articulation of your responses are vital, with any explanations to be simply understood by the purchasers.
\nMarks are awarded for assignment analysis and referencing.
\nPlease notice that you need to reference your SOA, for referencing directions seek advice from your Assignment Particulars part.
\nAssignment questions
\nScope of recommendation
\nYour activity is to:
\n1. Look at the purchasers\u2019 acknowledged objectives and goals for every of the following questions, points they’ve raised and, after Assessment, take into account acceptable responses.
\nThe questions and points raised by the purchasers are vital in the improvement of acceptable methods you consider the purchasers should be contemplating. These inquiries to which the purchasers require a selected response should be addressed in your SOA. All objectives, points and instructions raised by the purchasers type the agreed scope of your recommendation to the McCann household.
\n2. Full an SOA that includes, in a coordinated and communicative approach, the methods the purchasers should be adopting and appropriate responses to every of the questions the purchasers need you to deal with. Your SOA should additionally conform to the content material and construction of an SOA and its element components as described in Subject eight and the pattern SOA, which may be present in the on-line assets for Subject eight.
\nThe next questions and points raised by Paul and Sandra are designed as prompts that can Help you take into account the key points. Numerous assumptions are required. These assumptions should be integrated into your responses and the SOA.
\nKey retirement points
\n\u2022 After they retire, when Paul reaches age 62, they estimate they’ll require $65,000 per yr in right now\u2019s , excluding the value of holidays each second yr estimated at $15,000. They need your recommendation as as to if that is reasonable and achievable, and what methods they should be enterprise now to attain this vital monetary aim, and why.
\nThey’ve observed that their superannuation funds supply retirement earnings streams in the type of account-based pensions. They want to know the way they work and whether or not they’re one thing to think about in retirement.
\nIn addressing these key retirement points, the McCann household have additionally raised the following associated questions and points which they need you to deal with in your written recommendation:
\n\u2022 Should they be trying to set up an SMSF and what are the professionals and cons of doing so? How may an SMSF help them in accumulating wealth for his or her retirement, significantly in the event that they needed to buy extra property? What can an SMSF try this their present funds can not?
\n\u2022 What’s your view of Paul and Sandra persevering with to spend money on residential property, coupled with unfavourable gearing, to construct wealth for retirement? Moreover, what choices should they be contemplating with their residential funding properties given their poor efficiency?
\nWhat are the professionals and cons of buying a Perth property to stay in in comparison with renting? Do you’ve gotten a view as to what they should do?
\nPaul and Sandra have heard that there would be no capital features tax (CGT) in the event that they hire out the household house for a brief interval, and they want you to clarify the present guidelines about this.
\n\u2022 Paul and Sandra aren’t conscious of superannuation beneficiary nominations and haven’t nominated any beneficiaries to their superannuation. What are they and what should they do about them, if something?
\n\u2022 Paul has requested your recommendation on an acceptable superannuation fund that may settle for his rollover advantages, and employer and voluntary contributions. He additionally needs to know what he should do along with his redundancy bundle.
\n\u2022 Sandra needs to construct her superannuation for retirement after listening to on the native radio about the significance of saving for retirement. When she begins her new job, she want to make investments extra in superannuation and would love you to advise her on how a lot she should contribute. Should she proceed to make use of CareSuper as her principal superannuation fund?
\n\u2022 In regard to Paul\u2019s and Sandra\u2019s life insurance coverage preparations, they need you to deal with their exact insurance coverage methods wants at a later time. Nevertheless, as they’ve insurance policies each inside and out of doors superannuation, what are the points they should be conscious of with every choice? Is it extra advantageous to include all the insurance policies they want by their superannuation funds?
\nFlorence\u2019s aged care necessities
\n\u2022 Florence (Sandra\u2019s mom) has granted Sandra enduring energy of legal professional. You met Florence when she accompanied Paul and Sandra to the first appointment. You have got established that Florence is glad for Sandra to behave on her behalf.
\nPaul, Sandra and Florence need your recommendation on aged care and Florence\u2019s money circulate when she strikes to the aged care facility. They want to know the way the charge would be calculated, the implications for her age pension and the way she should fund the refundable lodging deposit. In addition they wish to know roughly how a lot age pension Florence will get as soon as she enters the facility.
\nCase examine: Paul and Sandra McCann
\nYou’re a monetary adviser and principal of All Out Monetary Planning, a boutique monetary planning apply licensed by ABC Monetary Options Pty Ltd (AFSL 222222).
\nYou first met Paul and Sandra McCann two months in the past once they had been referred to you by an present shopper. At that assembly you accomplished a knowledge assortment type and the purchasers supplied you with copies of the following:
\n\u2022 present superannuation assertion for each companions
\n\u2022 tax return for the earlier monetary yr (2020\/21) for every of them
\n\u2022 financial institution assertion of loans and financial savings.
\nThe purchasers have requested that you simply put together an announcement of recommendation (SOA) which addresses their objectives and goals and every of the questions they’ve raised as outlined in the following \u2018Scope of recommendation\u2019.
\nThey’ve confirmed that the following info collected by a complete reality discover is correct and nonetheless related.
\nPrivate particulars
\nHousehold title McCann McCann
\nGiven title Paul Sandra
\nMarital standing Married
\nDwelling tackle 1 Baker Ave, Wollongong NSW 2500
\nContact quantity 0416 000 001 0416 000 002
\nPresent age 53 51
\nWell being Good Good
\nSmoker Stopped smoking 18 months in the past No
\nAnticipated retirement age 62 When Paul retires
\nDependant particulars
\nIdentify Jackson Maddison
\nAge 15 13
\nRemarks Nonetheless at college Nonetheless at college As soon as the kids have accomplished their education, Paul and Sandra will proceed to Help them, if wanted, as much as $10,000 per yr every, as much as age 24
\nEmployment particulars
\nPaul Present place as a senior threat and security engineer at BlueScope Metal, Wollongong, NSW, ending in two weeks\u2019 time.
\nCommences new place as website engineer at Desert Port Company, WA, in two months\u2019 time.
\nSandra Keep-at-home mum or dad at present however has accepted a part-time place with a publishing firm in Perth, Ebook Press, and can begin in three months\u2019 time.
\nBackground
\nPaul and Sandra have been married for over 25 years. Paul has at all times been the primary earnings earner as Sandra selected to depart her job as a librarian some years in the past to be the main carer for his or her kids.
\nPaul has been working as an engineer at BlueScope Metal for the final 26 years and has just lately been provided a voluntary redundancy as a part of a serious restructure. His complete redundancy profit will be $175,000 after tax.
\nThankfully, he was provided an ongoing contract as website engineer for Desert Port Company in
\nWestern Australia, with the identical complete bundle that he’s on now ($195,000 plus superannuation of 10%), which he has accepted. The household will quickly transfer to Perth and Paul will begin his new function in about two months\u2019 time.
\nSandra is wanting ahead to returning to the workforce and has discovered a part-time function in Perth with a publishing firm, Ebook Press Pty Ltd. She confirmed she is going to begin her new job in about three months\u2019 time and can earn $52,000 p.a. plus superannuation of 10%.
\nPaul and Sandra plan to hire initially at an estimated value of $650 per week. They’ve approached an agent to buy a property in Perth as they would favor to personal a property slightly than hire.
\nPaul will fly-in fly-out (FIFO) to the Pilbara area. He’s required to work for 10 days after which has six days off. The corporate will bear all his flying and residing bills in the Pilbara area.
\nThe household house in Wollongong will be rented out at an anticipated gross rental of $600 per week.
\nAngle to investing \u2014 threat profile
\nFollowing the completion of a complete threat tolerance questionnaire and subsequent discussions with you, Paul and Sandra have agreed along with your conclusion that Paul is a \u2018development\u2019 profile investor and Sandra a \u2018balanced\u2019 profile investor.
\nProperty and liabilities
\nPaul Sandra Joint Mortgage
\nSt.George Financial institution on-line account $150,000
\nSt.George Financial institution financial savings account $eight,000
\nColonial First State Index Australian Share Fund $31,000
\nBlueScope Metal superannuation fund (balanced profile) $370,000
\nCareSuper Business Fund \u2014 conservative balanced choice $43,000
\nIndustrial property \u2014 Brisbane $445,000 $340,000
\nFunding property \u2014 Gold Coast: Unit 1 $155,000 $135,000
\nFunding property \u2014 Gold Coast: Unit 2 $245,000 $205,000
\nWollongong \u2014 household house $685,000 $217,000
\nAutomobile $25,000
\nDwelling contents (insured worth) $65,000
\nEstimated annual gross earnings particulars
\nPaul Sandra
\nGross wage earnings $195,000 $52,000
\nGross rental earnings** $53,400 $15,600
\nCuriosity earnings^ $2,500 $2,500
\nManaged fund earnings## $1,550
\nWhole $250,900 $71,650
\n** Rental earnings of four \u00d7 properties together with Wollongong house.
\n^ Curiosity earnings from on-line financial savings account.
\n## 5% earnings excluding absolutely franked credit.
\nAnnual bills \u2014 joint
\nAnnual hire $33,800 Anticipated hire in Perth (annualised)
\nAnnual residing $42,000
\nHolidays $10,000
\nDeductible outgoings (i.e. curiosity) $44,000 four \u00d7 rental properties together with household house to be rented (interest-only repayments)
\nKids\u2019s training $20,000
\nLife insurance coverage (held exterior tremendous) $5,200
\nMotorized vehicle prices $three,000
\nWhole $158,000
\nPaul\u2019s redundancy
\nPaul has suggested that the after-tax $175,000 redundancy cost will be added to the joint on-line financial savings account as above when he finishes.
\nPaul\u2019s superannuation
\nPaul\u2019s superannuation is with the BlueScope Metal Employer Fund. Its present worth is $370,000 (tax-free element is $22,000 and taxed element is $348,000).
\nSandra\u2019s superannuation
\nSandra has a smaller superannuation steadiness of $43,000 in CareSuper Business Fund \u2014 conservative balanced choice (all taxed element). These advantages had been rolled over to CareSuper when she gave up work. She has not made any additional contributions.
\nFunding properties
\nThe funding properties had been bought over an 18-month interval throughout 2014 and 2015.
\nEach residential funding models on the Gold Coast at the moment are valued under their unique buy worth together with prices. Authentic buy worth plus prices of the properties are as follows:
\n\u2022 Gold Coast (unit 1): $159,000
\n\u2022 Gold Coast (unit 2): $268,000
\n\u2022 Brisbane industrial property: $385,000
\n\u2022 Wollongong household house: $310,000.
\nPaul has learn some books on constructing wealth by property investments and has attended a number of funding seminars which have really helpful unfavourable gearing into property. He was instructed his property investments may double in seven to 10 years, however he’s very involved now that each his Gold Coast models are valued under their buy worth. He’s unsure about what to do with these properties, although he finds that total, after unfavourable gearing is calculated, he will get a tax benefit.
\nPaul mentioned he’s taken with exploring the institution of a self-managed superannuation fund (SMSF) as he has learn you may borrow by an SMSF to purchase property.
\nPaul\u2019s and Sandra\u2019s insurances
\nPaul and Sandra have clearly acknowledged that though they’ll require a Assessment of their life insurance coverage necessities, they are not looking for you to deal with this space in your SOA. They need you to deal with this individually, at a later time.
\nNevertheless, they do need you to deal with some preliminary questions they’ve regarding the possession and workings of life insurance coverage insurance policies.
\nTheir respective superannuation statements present that Paul and Sandra have fundamental life and complete and everlasting incapacity (TPD) cowl. They’ve mentioned they each maintain different life insurance coverage insurance policies exterior of the insurance policies of their superannuation funds.
\nProperty planning
\nEach Paul and Sandra have easy wills that had been drawn up once they purchased the household house in Wollongong 15 years in the past. They go away all the things in particular person names to one another of their wills. They don’t have powers of legal professional, nor have they accomplished beneficiary nomination elections with their respective superannuation funds.
\nPaul and Sandra\u2019s retirement plans
\nPaul plans to work for at the very least an additional 9 years and hopefully construct sufficient wealth to then retire. Sandra plans to retire at the identical time as Paul.
\nAfter they retire, they’ve estimated, given no debt, they’ll want $65,000 per yr in right now\u2019s , excluding main holidays, which they plan to take each second yr at a value of $15,000 in right now\u2019s . Their want at this stage is to retire in Wollongong or close to the south coast of New South Wales.
\nSandra\u2019s mom Florence \u2014 aged care concerns
\nPaul and Sandra additionally talked about that Sandra\u2019s mom, Florence, aged 78, who resides of their granny flat (non-homeowner) in Wollongong has, due to sickness, been just lately assessed by an aged care staff who has granted approval for her to maneuver into an aged care facility.
\nFlorence\u2019s solely funding is $380,000 in money and time period deposits together with her financial institution. She receives a component age pension. Paul, Sandra and Florence have chosen a church-operated facility in Wollongong which
\nFlorence feels snug with. It has a broadcast worth for a refundable lodging deposit of $240,000 (which she can pay in full upon entry utilizing her money\/time period deposit funds). They consider that she will stay comfortably on an earnings of $22,000 per yr.
\nSandra\u2019s sister, who lives close to Wollongong, will be in a position to present Help to Florence whereas Paul and Sandra live in Perth.
\nAble to submit?
\nI’ve added my Scholar No. and phrase depend to my assignment.
\n\u2022 I’ve saved the file to be uploaded as: StudentNo_FPC003_AS_v11A1.
\n\u2022 My assignment is inside the phrase restrict and adheres to the pointers in the Assessment Preparation Information.
\n\u2022 My assignment file dimension is not any bigger than 20 MB.
\n\u2022 If tables had been required, they’re seen as textual content, not as hyperlinks or photos.
\n\u2022 I’ve proven all workings and calculations as instructed.
\n\u2022 I’ve referenced and cited all supply supplies utilizing the Harvard referencing model and, included a reference record at the finish of my assignment.
\n\u2022 I’ve submitted my assignment as one (1) Phrase file or PDF file as per the directions in KapLearn.<\/p>\n
——–<\/p>\n
Assignment Directions
\nAssignment marks: 95 | Analysis and referencing marks: 5 Whole marks: 100
\nWhole phrase restrict: 7,000 phrases<\/p>\n
Weighting: 50%<\/p>\n
Your assignment should be loaded into KapLearn by 11.30 pm AEST\/AEDT on the due date.<\/p>\n
Discuss with \u2018Time remaining\u2019 on the \u2018Assignment\u2019 web page in KapLearn to make sure you submit your assignment by the specified due date and time.<\/p>\n
Studying outcomes (LO) mapping Marks<\/p>\n
LO1 Analyse superannuation buildings and methods for numerous shopper conditions 25<\/p>\n
LO2 Clarify the taxation implications of superannuation methods for contribution, withdrawal and insurance coverage at the fund stage 10<\/p>\n
LO3 Analyse superannuation retirement earnings stream methods based on their advantages, tax implications and social safety remedy as they relate to totally different shopper conditions 10<\/p>\n
LO4 Formulate methods to maximise superannuation advantages and<\/p>\n","protected":false},"excerpt":{"rendered":"
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