To help pay for the public health system which we call Medicare, you’re required to pay a 2 percent Medicare levy as part of your income tax. While the low-income tax offset can reduce your individual tax liability, sadly it does not reduce the Medicare levy per se, which can make it that little bit harder to get ahead with your savings.
Market Update 3 January 2020
Economic Outlook 2020
Ongoing geopolitical tensions, overshadowed by the US-China trade war and Brexit, are expected to stunt global economic growth in 2020. Weaker global growth will have a flow-on to investment markets, fuelling further periodic bouts of volatility, and investors should factor in the likelihood of subdued returns.