LOOSE CHANGE
Sydney Morning Herald
Wednesday March 30, 2011
More superannuation?The government's settlement of the terms of the Mining Resource Rent Tax with the mining industry clears the way for it to legislate for the promised increase in the superannuation guarantee, says the Association of Superannuation Funds of Australia. The government always said the mining tax was needed to help fund its planned increase in the super guarantee charge from 9 per cent to 12 per cent in the next decade.Rescue agreementInvestors in the failed property investor Fincorp Investments have reached a compensation agreement with Fincorp trustees Sandhurst Trustees. Under the deal negotiated on behalf of the investors by lawyers Slater & Gordon, both secured and unsecured Fincorp note holders will be eligible for payment. When Fincorp was wound up, secured note holders received 55 cents in the dollar but unsecured note holders received nothing.Vote of confidenceFinancial institutions in Europe and Asia remain bullish on Asian shares and bonds, with more than half indicating they will increase their investment in the region in the next three years, a Fidelity International survey has found. The survey found a majority of Asian and European institutions plan to increase their allocations to Asian shares and bonds in the next three years a vote of confidence in the Asian growth story, Fidelity says.Commercial property way to goSmall investors should consider investing in commercial property, a private client adviser with Hewison Private Wealth, Chris Morcom, says. Rental yields for quality commercial property are now as high as 8 per cent a year compared with the 2 per cent to 3 per cent yields of residential property. Small investors can access commercial property though syndicated funds and listed real estate investment trusts.
© 2011 Sydney Morning Herald
