Movements in official interest rates are determined by the RBA. Their objective is to ensure that price growth (inflation) remains low and
stable and it uses ‘monetary policy’ to do this.
Monetary policy involves either increasing the cost of money (interest rates) to slow the economy down, or lowering the cost of money to encourage spending which promotes economic growth.
Information in this document is based on current regulatory requirements and laws, as at 1 July 2020, which may be subject to change.
A testamentary trust is commonly used by estate planning lawyers to protect the assets and inheritance of the testator’s benefciaries from creditors, family law actions and providing flexibility in relation to the distribution of the estate.
There are limits on how much you can pay into your super fund each financial year without having to pay extra tax. These limits are called ‘contribution caps’.
