As Senior Editor at Business News, Mark Beyer has a wide-ranging brief to research, analyse and report on the issues, trends and personalities affecting the business community in Western Australia. Mark has 35 years' career experience, primarily in business journalism. He joined Business News in 2002 and previously worked for The Australian Financial Review and The West Australian, and also has public relations and corporate affairs experience. Before becoming a journalist, he was an economist with the Commonwealth Treasury in Canberra.
THE rapid growth of master funds has been one of the defining trends in financial services during the past decade.Wrap accounts, which provide essentially the same service, also have attracted keen support in recent years.
THE practice of salary packaging has continued to be surprisingly popular, despite the introduction of the fringe benefits tax in the mid 1980s.The FBT has greatly reduced the scope for packaging but has certainly not ended the practice.
The cheapest option is to prepare the will yourself. Do-it-yourself kits with instructions and sample wills can be bought from newsagents or via web sites like www.legalwills.com.au for between $25 and $40.
AUSTRALIA’S superannuation funds have just produced their lowest annual returns for the past 10 years. And for the first time in a decade, inflation (6 per cent per annum) was higher than the median return.