Introducing Eleanor Coleman, Financial Planning Specialist HK, CoreLogic HVI, Chart Packs, Lauren’s and Cameron Dec Property Report, RBA Decision and more.
We are excited to introduce Eleanor Coleman, a financial planning specialist based in Hong Kong. Eleanor Coleman is the Partner and Founder of the Financial Empowerment Group, a St. James’s Place Asia partner, and the owner of the “Man is Not a Plan” series. Her mission is to help women feel in control of their money and empowered by their investments so that they can feel confident about their financial future.
To read Eleanor’s Bio, click on the link below.
Here is some great advise from the latest St. James’s Place WeekWatch
“Most people are aware that income tax is charged at 0%, 20%, 40% or 45%, depending on how much you earn. The rates are slightly different in Scotland, but a 60% tax band doesn’t seem to exist – on paper. However, higher-rate taxpayers beware.
If there’s one word to describe the UK tax system, it’s ‘complicated’. Regulations, as we saw in the Autumn Budget, can change frequently and even if you’re more informed than most, it’s easy to misinterpret the rules – and end up walking into a 60% tax trap without realising.
They call it ‘stealth tax’. A 60% rate of income tax isn’t publicised in any HMRC guidelines because it’s an unofficial effective rate of Income Tax.
Once you’re earning £100,000 or more, the £12,570 personal allowance slowly reduces or tapers off. The personal allowance is the amount of income you can earn each year without paying Income Tax. Currently, the allowance tapers down at a rate of £1 for every £2 you earn above £100,000.
In real terms, this means that for every £100 of income between £100,000 and £125,140, £40 is deducted in Income Tax, while another £20 is lost by the tapering of the personal allowance. You will also pay Employee National insurance at 2% on the income. This amounts to a 60% tax rate, plus National Insurance. Once you’re earning £125,140 or more, you don’t get any personal allowance at all. It feels like a double jeopardy.
One of the quickest and simplest ways to bring your taxable income below the threshold is to pay more into your pension before tax year-end. This is a win-win, since you reduce your tax bill and boost your retirement fund at the same time.
If you’re just over one of the tax bands, topping up your pension can reduce the amount of tax you pay in a number of ways. Since any contribution you make reduces your taxable income, it might be worth paying in as much as you can afford.
You can pay a maximum of £60,000 into your pension each year, before you lose government tax relief on your contributions, with carry forward also potentially available.
The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.
The levels and bases of taxation, and reliefs from taxation, can change at any time and are generally dependent on individual circumstances.”
Thank you, Tim Lawless, CoreLogic Australia’s Executive Research Director for Asia Pacific, for sharing CoreLogic's National Home Value Index (HVI) with our community.
Over the past month, the HVI rose only 0.1% in the last month of spring, the slowest increase since January 2023. We experienced 22nd months of growth, but it may end soon. Mr Lawless noted that Melbourne and Sydney are seeing a downturn, and mid-sized capitals are also slowing down. In Melbourne, housing values fell 0.4% last month and are down 2.3% over the past year. For Sydney, the peak likely occurred in August, with values levelling off in September and dropping 0.2% in October and November.
Sydney - 0.2% Median Dwelling Value (MDV) - $1,196,809
Melbourne - 0.4% MDV - $776,949
Brisbane +0.6% MDV - $886,540
Adelaide +0.8% MDV - $813,716
Perth +1.1% MDV - $808,090
Hobart -0.1% MDV - $654,339
Darwin +0.2% MDV - $496,860
Canberra +0.1% MDV - $851,731
To read the full update with links to the HVI and Chart Packs and to Watch the December Update on YouTube, click on the link below.
Cameron Porter from Porters House Buyers Agency shared his insights on the Australian Property market and gave updates regarding the following;
Recent RBA decision to hold interest rates at 4.35%.
Self-managed Super Fund Growth and Opportunities.
Property Market breakdown in each capital city
Rental Markets and Yields
Available housing stock.
Lauren Staley, Director of Infolio Property Advisors our Melbourne Property Specialist, shared her insights of the year as it was in Melbourne and urged her clients to look for potential opportunities, especially in the Luxury Home Market, for savvy buyers in Melbourne’s subdued market. Here is a snippet from her update below:
“The Melbourne property market remains sluggish, with no interest rate cut on Cup Day, high listing numbers, and subdued property values. However, this creates a window of opportunity, especially for premium home buyers and strategic investors.”
To read Lauren’s blog, click on the link below.
Stay tuned for our 2025 event announcements in Hong Kong and Singapore.
The information contained is general information only and does not consider your personal objectives, financial situation and needs. We strongly recommend that you do not act on any information provided in this website without individual advice from your trusted advisor. You should also obtain a copy of and consider the Product Disclosure Statement for all financial products before making any decision.
The Expatriate always tries to make sure all information is accurate. However, when reading our website, please always consider our Disclaimer policy.
