first home buyers

First Home Buyers – Secure up to $12,000

The Australian Government is trying to make it easier for first home buyers to get into their own homes. The First Home Owners Grant (FHOG) and the Home Buyers Assistance Account (HBAA) collectively allow first-time buyers to secure up to $12,000 towards their first home. The grants can be used in conjunction with the HomeBuilder Scheme and the WA Home Construction Grant allowing applicants to secure an additional $45,000.

First Home Owners Grant (FHOG) 

The First Home Owners Grant (FHOG) is a once-off payment to assist first home buyers to get into their own home. Eligible Australians can receive up to $10,000 to buy or build their first home. The FHOG can be used in conjunction with the new grants, as well as with the stamp duty concessions.

Eligibility for the First Home Owners Grant:

  • Applicant must be an Australian citizen
  • Aged 18 years or older
  • Applicant must not have previously applied for the grant
  • The building of new properties or purchasing off-the-plan. In other words, established/off-the-plan properties are not eligible for the grant
  • The property value must be under $420,000

To be eligible for the FHOG, the property must be occupied as the applicant’s principal place of residence. Therefore, the applicant must reside at the property for at least 6 months commencing within 12 months of settlement or completion of the build. For a full list of conditions for the grant, please visit the WA Government website.

Home Buyers Assistance Account (HBAA) – up to $2,000

The Home Buyers Assistance Account is a $2,000 rebate available only to first home buyers. The HBAA is the reimbursement of settlement fees and legal costs involved with the purchase of such property.

Eligibility for the Home Buyers Assistance Account Grant: 

  • Applicant must be an Australian citizen
  • Aged 18 years or older
  • Only available for first home buyers
  • The value of the property must be under $400,000
  • A licensed real estate agent should assist in the purchase of the property
  • A lending institution should assist in securing the finance for the purchase
  • The dwelling must be established (or partially built) at the time of acceptance of the contract to purchase. A plan to build a dwelling will not be accepted.
  • Lodgement of applications should take place within the first 90 days after settlement of the contract to purchase

Similar to the First Home Owners Grant, the property must be occupied as the applicant’s principal place of residence. However, in this case, the applicant must reside at the property for at least 12 months. During this time the dwelling cannot be rented out.

Get in touch with our Mortgage Team

To find out if you are eligible for one or more of the current Government grants, please contact your Pacific Finance Broker via [email protected] or give us a call on (08) 9321 2120. To make it easier to understand all the Housing Grants currently available, the Pacific Team has consolidated the latest Federal and State Housing Grants into an eBook.

Download our Housing Grants eBook via the link below.

 

home construction grant

New Home Construction Grant (WA)

The Home Construction Grant allows eligible Australians to receive up to $20,000 for the construction of new homes on vacant lots of land. Anyone who has entered an off-the-plan contract can receive the grant. However, only single-tiered properties are eligible under this scheme. For instance, applicants purchasing multi-tiered strata and off-the-plan townhouses will be excluded from the grant.

The New Home Construction Grant is available in conjunction with the First Home Owners Grant (FHOG), the HomeBuilder Scheme, the stamp duty concessions, and other Federal grants. However, in saying this, you do not have to be a first home buyer to take advantage of the New Home Construction Grant.

Eligibility for the New Home Construction Grant: 

  • Applicant must be an Australian citizen
  • Aged 18 years or older
  • Applicants can reside in Australia or overseas
  • Applicable to owner-occupied properties and investment properties
  • Construction must commence within six months of the contract date
  • The entry of the contract to build should be between 4 June 2020 – 31 December 2020
  • Mixed used, commercial purposes or short stay accommodation are not eligible

Payments of the grant will only be made after the slab down phase. Similar to the First Home Owners Grant, the Construction Grant will be lodged via the banks to the Office of State Revenue (OSR) WA. Only one payment is available for each vacant lot of land. In other words, only a single application can be lodged regardless of the number of homes to be built. However, the same applicant can claim multiple grants on separate transactions. For a full list of conditions for the grant, please visit the WA Government website.

Get in touch with our Mortgage Team

To find out if you are eligible for one or more of the current Government grants, please contact your Pacific Finance Broker via [email protected] or give us a call on (08) 9321 2120. To make it easier to understand all the Housing Grants currently available, the Pacific Team has consolidated the latest Federal and State Housing Grants into an eBook.

Download our Housing Grants eBook via the link below.

 

Secure up to $69,000 in housing grants

The HomeBuilder Scheme – up to $25,000

The Australian Federal Government has announced the new HomeBuilder Scheme to support the residential construction sector. Eligible Australian can receive up to $25,000 to assist in the construction or renovation of their homes. The HomeBuilder Grant is available in conjunction with the First Home Owners Grant (FHOG), the stamp duty concessions, and other Federal grants.

In saying this, you do not have to be a first home buyer to take advantage of the HomeBuilder Scheme. Investment properties do not qualify for the grant. Property owners who intend on building or renovating on their own (owner-builder), without the help of builders, will not be eligible for the grant.

Eligibility for the HomeBuilder Scheme Grant: 

  • Applicant must be an Australian citizen
  • Aged 18 years or older
  • Only applicable to owner-occupied properties
  • Off-the-plan apartments are also acceptable
  • Construction must commence within 3 months of the contract date
  • Taxable income must be below the following thresholds –
    • $125,000 per annum for individuals
    • $200,000 per annum for couples
New Homes
  •  The new home must be the applicant’s principal place of residence
  • The combined property and land value must not exceed $750,000
  • The land should be purchased before or after 4 June 2020
  • The contract to build must only be entered after 4 June 2020
  • Payments will only be made after the slab down phase
Renovations
  • The existing value of the property must be less than $1.5 million. To clarify, this is the pre-renovation value of the property and land
  • The value of the renovations must be between $150,000 – $750,000
  • Renovations must be substantial. In other words, the renovations must improve accessibility, safety or liveability of the property to qualify for the grant. Luxury renovations such as pools, tennis courts, spas, etc will not be part of the grant
  • Quotes will have to be provided in order to receive payment of the grant
Construction
  • The contracts must be entered between 4 June 2020 – 31 December 2020

The HomeBuilder Scheme is a tax-free grant which is only available for a limited time. Therefore, it is important that you act quickly to take advantage of the grant.


New Home Construction Grant (WA) – up to $20,000

The WA State Government has also announced the new Building Bonus. Eligible Australians can receive up to $20,000 for the construction of new homes on vacant lots of land. In addition, anyone who has entered an off-the-plan contract to purchase a new home can receive the grant. However, only single-tiered properties are eligible. Multi-tiered strata and off-the-plan townhouses are excluded from the grant.

The New Home Construction Grant is available in conjunction with the First Home Owners Grant (FHOG), the HomeBuilder Scheme, the stamp duty concessions, and other Federal grants. In saying this, you do not have to be a first home buyer to take advantage of the New Home Construction Grant.

Eligibility for the New Home Construction Grant: 

  • Applicant must be an Australian citizen
  • Aged 18 years or older
  • Applicants can reside in Australia or overseas
  • Applicable to owner-occupied properties and investment properties
  • Construction must commence within 6 months of the contract date
  • The building contract must be entered between 4 June 2020 – 31 December 2020
  • Mixed used, commercial purposes or short stay accommodation are not eligible

 

Payment of the grant will only be made after the slab down phase. The New Home Construction Grant will be lodged through the banks to the Office of State Revenue (OSR) WA, just like the First Home Owners Grant. It is important to note that the New Home Construction will only be paid for each vacant lot of land, regardless of how many homes will be built. However, multiple grants can be paid to the same applicant on separate transactions.


First Home Owners Grant (FHOG) – up to $10,000

The First Home Owners Grant (FHOG) is a once-off payment to encourage first home buyers to get into their own home. Eligible Australians can receive up to $10,000 to buy or build their first home. The FHOG can be used in conjunction with the new grants, as well as with the stamp duty concessions.

Eligibility for the First Home Owners Grant:

  • Applicant must be an Australian citizen
  • Aged 18 years or older
  • Applicant must not have previously applied for the grant
  • The building of new properties or purchasing off-the-plan. In other words, established/off-the-plan properties are not eligible for the grant
  • The property value must be under $420,000

To be eligible for the FHOG, the property must be occupied as the applicant’s principal place of residence. Therefore, the applicant must reside at the property for at least 6 months commencing within 12 months of settlement or completion of the build.


Home Buyers Assistance Account (HBAA) – up to $2,000

The Home Buyers Assistance Account is a $2,000 rebate available only to first home buyers. The HBAA is the reimbursement of settlement fees and legal costs involved with the purchase of such property.

Eligibility for the Home Buyers Assistance Account Grant: 

  • Applicant must be an Australian citizen
  • Aged 18 years or older
  • Only available for first home buyers
  • The value of the property must be under $400,000
  • A licensed real estate agent should assist in the purchase of the property
  • A lending institution should assist in securing the finance for the purchase
  • The dwelling must be established (or partially built) at the time of acceptance of the contract to purchase. A plan to build a dwelling will not be accepted.
  • Lodgement of applications should take place within the first 90 days after settlement of the contract to purchase

Similar to the First Home Owners Grant, the property must be occupied as the applicant’s principal place of residence. The applicant must reside at the property for at least 12 months. The dwelling cannot be rented out during this time.

Get in touch with our Mortgage Team

To find out if you are eligible for one or more of the current Government grants, please contact your Pacific Finance Broker via [email protected] or give us a call on (08) 9321 2120. To make it easier to understand all the Housing Grants currently available, the Pacific Team has consolidated the latest Federal and State Housing Grants into an eBook.

Download our Housing Grants eBook via the link below.

 

homebuilder program

The HomeBuilder Scheme

The Australian Federal Government has announced the new HomeBuilder Scheme to support the residential construction sector. As a result, eligible Australian can receive up to $25,000 to assist in the construction or renovation of their homes. The HomeBuilder Scheme is available in conjunction with the First Home Owners Grant (FHOG), the stamp duty concessions, and other Federal grants.

In saying this, you do not have to be a first home buyer to take advantage of the HomeBuilder Scheme. It is also important to note that the HomeBuilder Scheme will not apply to investment properties. In addition, property owners who intend on building or renovating on their own (owner-builder) without the help of builders will not be eligible for the grant.

Eligibility for the HomeBuilder Scheme

  • Applicant must be an Australian citizen
  • Applicant must be aged 18 years or older
  • Only applicable to owner-occupied properties. It should be noted that off-the-plan apartments are also acceptable.
  • Construction must commence within 3 months of the contract date
  • Taxable income must be below the following thresholds –
    • $125,000 per annum for individuals
    • $200,000 per annum for couples

The HomeBuilder Program requirements: 

 

New Homes

  • The new home must be the applicant’s principal place of residence
  • The combined property and land value must not exceed $750,000
  • The land should be purchased before or after 4 June 2020
  • The contract to build must only be entered after 4 June 2020
 

Renovations

  • The existing value of the property must be less than $1.5 million. To clarify, this is the pre-renovation value of the property and land
  • The value of the renovations must be between $150,000 – $750,000
  • Renovations must be substantial. In other words, the renovations must improve accessibility, safety or liveability of the property to qualify for the grant. Luxury renovations such as pools, tennis courts, spas, etc will not be part of the grant
 

Construction 

  • The contracts must be entered between 4 June 2020 – 31 December 2020

The HomeBuilder Scheme is a tax-free grant which is only available for a limited time. Therefore, it is important that you act quickly to take advantage of the grant. 

Get in touch with our Mortgage Team

For more information on the HomeBuilder Program, please contact your Pacific Finance Broker via [email protected] or give us a call on (08) 9321 2120. To make it easier to understand all the Housing Grants currently available, the Pacific Team has consolidated the latest Federal and State Housing Grants into an eBook.

Download our Housing Grants eBook via the link below.

EOFY Checklist

End of Financial Year Checklist

With the end of the financial year fast approaching, we’ve made a list of tasks to help keep you and your business prepared for the EOFY deadlines.

1. Perform inventory stocktake & update your asset register

Conduct inventory counts on all the business’ assets near 30 June. Make sure all records are adjusted before calculating the cost of sales and gross profit. In addition, it is important to review your business’ asset register (e.g. all vehicles – plant equipment or office equipment) in preparation for depreciation and capital gains tax calculations.

2. Take advantage of the instant asset write-offs (IAWO)

Make sure to speak to your Broker regarding the extended instant asset write-offs and take advantage of the concessions currently in place. Some of the important changes to notes in regards to the IAWO are:

  • The threshold has been increased to $150,000
  • Eligible businesses can immediately write-off multiple assets, as the $150,000 tax deductions are available per asset
  • New and used assets are eligible (the asset is installed/in use by 31 December 2020)

If you run out of time to finance the asset before the end of June, don’t worry! Your Broker can arrange to put the facility in place afterwards and refund you the cost. It is important to note that the IAWO has been extended until 31 December 2020.

3. Comply with Single Touch Payroll (STP) and Superannuation obligations

Use STP to report annual wage payments, superannuation obligations and PAYG withholdings for the final pay period for June 2020. Remember, SGC payments made after the 14 June are not tax-deductible.

4. Prepare your EOFY financial statements

Above all, the documents that you should aim to finalise as soon as the new financial year begins are:

  • June 2020 balance sheet
  • The business’ FY 19/20 profit and loss statements.

In addition, it is advisable to finalise any management reports that the business uses regularly.

5. Lodge your final Business Activity Statements (BAS)

Reconcile the following before preparing your annual tax return:

  • GST
  • PAYG
  • FBT
  • Any other financial obligations

6. Make sure all other documents are in order

Just a reminder of the tax returns cut-offs:

  • Sole traders/Partnerships – 31 October 2020
  • Companies – 28 February 2021

Make sure you take advantage of all small business tax concessions. Click here to view the full list.

7. We recommend you always speak with your Accountant 

Good Accountants can add a lot of value to your business. If you’re not getting adequate support from your Accountant, talk to your Broker who will be able to offer alternatives.

 

For more information, please contact your Pacific Finance Broker via [email protected] or give us a call on (08) 9321 2120.

Economic Response To Coronavirus

The Coronavirus outbreak has had economic implications for several businesses around the world.

To support our local businesses during this economic downturn, the Australian Government has amended the eligibility for the instant asset write-off and is incentivising business investments for the next 15 months.

Instant Asset Write-Off (IAWO)

  • The IAWO threshold has increased to $150,000
  • Businesses with turnovers up to $500million are now eligible for the IAWO (until 30 June 2020)
  • Eligible businesses can immediately write-off multiple assets, as the $150,000 tax deduction is available per asset

Backing Business Investment (BBI)

  • Businesses with turnovers up to $500million are now eligible for the BBI
  • Applies to assets first used/installed by 30 June 2021, or assets acquired after the announcement
  • A deduction of 50% of the cost of eligible assets (with the current depreciation rules applicable to the balance of the asset’s purchase price)

The Governments Response To Coronavirus

The Government is trying to help the economy withstand and recover from the economic implications of the Coronavirus. Please read the Support For Business Investment Fact Sheet prepared by the Australian Government Treasury for more information.

Contact us today on 08 9321 2120 or send us an email – [email protected] so we can help you make the best of the current economic concessions.

Invoice Finance

Invoice Finance – A Quick Boost To Your Cashflow

Being in control of your business’ cashflow can be challenging. For instance, not having enough money in the business account each day to pay wages, suppliers, rent and any other financial commitments can be a stressful scenario and yet it is one which most business owners face at some point in time.

It becomes increasingly tricky if your revenue is seasonal or if the cash is tied up in unpaid customer invoices. Pacific Finance Australia can help you secure the necessary funds so that your business’ cashflow remains intact.

How does Invoice Financing work?

Pacific Finance Australia has access to panel of financiers that specialize in Invoice Financing. Invoice Financing also known as Debtor Finance, acts like a revolving line of credit. It ensures that every time you raise an invoice, you receive 80% of that invoice the very next day, without having to wait for the client to pay. When your customer pays the invoice, the funds will go to the financier and you will receive the remaining 20%, less interest and fees.

invoice finance

The benefits of Invoice Financing:

  • Be in control of your cashflow
    The lender pays you 80% of the invoice within 24-48 hours of it being raised. Therefore, day-to-day financial commitments become more manageable.
  • No additional security required
    Your invoice finance loan reduces as your clients pay the invoices. The unpaid invoices are provided as security; as a result no property security is required.
  • Easy access to additional funds
    The finance limit will grow with your business. You will have the ability to take out additional finance, as soon as another invoice is raised. Unlike a bank overdraft which is limited by the amount of equity in your property, invoice finance will grow with your business with no cap.
  • Flexibility with your finances
    You can choose whether you’d like to finance a single invoice or multiple. You even have the option to finance multiple invoices at once. There are a number of ways these can be arranged. You are best advised to speak to our  consultants as to what variation suits your business best.
  • A cost and time effective solution
    You will receive the remaining 20% of the funds when your client pays the invoice (minus the associated loan fees). The loan terms are flexible and are dependent on your business’ payback period – 30, 60 or 90 days.

What you need to secure Invoice Finance:

  • ATO statements
  • Profit and loss balance sheet
  • Aged receivables and payables report
  • Full financial statements
  • List of existing business loans
  • Personal assets and liabilities of the Directors

Grow the business you want with Invoice Finance

Our Finance Specialists are experienced in helping businesses grow through both short-term and long-term business finance solutions, which can be tailored specifically to you. Let us help you give your business the cashflow injection it needs in the short-term, to assist in its growth over time.

Contact your Pacific Finance Broker today on 08 9321 2120 or email us at [email protected] for more cashflow solutions.

Insurance Premium Funding

Insurance Premium Funding – A Solution for SMEs

If you’re self-employed, you know the hassle and stress of paying your annual premiums for your business in one hit. You can avoid the stress of having to pay a large lump sum with our (IPF) Insurance Premium Funding solutions. Pacific Finance Australia can help you secure the necessary funds needed to cover these annual premiums, so that your business’ cashflow remains intact.

How does Insurance Premium Funding (IPF) work?

Pacific Finance Australia has access to a wide panel of lenders that you can choose from. The lender pays the premiums on your behalf, allowing you to pay the lender back in smaller instalments. By securing finance to pay off these upfront costs, you can spread the cost of your premium over the year. Help your business grow in the long run by taking advantage of our IPF solutions.

The Benefits of Insurance Premium Funding:

  • No hefty lump sums
    You can now pay the lender smaller and more manageable monthly repayments with fixed interest rates. As a result of this, budgeting and cash flow forecasting become much easier.
  • Be in control of your cash flow
    You can inject extra funds into other vital assets for your business, because you won’t be paying the premiums upfront.
  • Flexibility with your finances
    With access to multiple funding solutions and repayment structures, we can help you find the right fit for your unique financial requirements. Your repayments can be structured to fall within your revenue cycles, if the revenue of your business is seasonal. You may also be able to lock in the interest rate, allowing you to focus on your business without any unforeseen changes.
  • Tax benefits
    Any establishment fees, interest rates and/or other costs you may incur for funding your insurance premiums will be tax deductible.
  • Simplify your accounting
    You can also consolidate multiple insurance premiums under a single loan, resulting in a single monthly payment.

What you can expect with a Pacific Finance Broker

  • Access to one of Australia’s largest panel of lenders, including all the major banks as well boutique financiers.
  • The markets’ most competitive interest rates combined with multiple repayment options to suit your cashflow needs.
  • Cost-effective and flexible loan options that are specifically tailored for you.
  • No additional security requirements for the loan.
  • Finance Specialists that are experienced in helping businesses grow through both short-term and long-term business finance solutions.

Let us help you take your business to where it needs to be with an obligation free facility review of your business.

Contact your Pacific Finance Australia Broker today on 08 9321 2120 or send us an email – [email protected] for more information.

 

Contact us now for your free facility review

Catch Up Contributions

Catch Up Contributions

Carry-forward (catch-up) super contributions could be the answer for many Australians looking to boost the balance in their super account.

Catch up contributions are concessional (before tax) contributions made to your superfund.

From 1st July 2018, eligible individuals have been able to accumulate unused concessional contributions and carry them forward. From July 1, 2019, you can start making additional concessional contributions to cover those carried-forward amounts.

What are ‘carry-forward contributions’ or ‘catch up contributions’?

Carry-forward contributions allow super fund members to use any of their unused concessional contributions limit (or cap) on a rolling basis for five years.

This means if you don’t use the full amount of your concessional contribution cap ($25,000 in both 2018/2019 and 2019/2020), you can carry-forward the unused amount and take advantage of it up to five years later.

Am I eligible?

  • An annual cap of $25,000 applies to concessional contributions (applies in 2018/19 and may be indexed in future years).
  • Your total superfund balance on the previous June 30 must be less than $500,000 for you to be eligible for concessional catch-up contributions
  • If you’re aged between 65 and 74 you will need to meet the work test to make concessional contributions to your superfund (40 hours of paid work in any consecutive 30-day period that financial year).
  • You cannot make voluntary concessional contributions once you reach the age of 75.

Catch Up Contributions: A Case Study

Amy is a 57-year-old earning $100,000 a year.

In 2018/19, she makes total concessional superannuation contributions of $10,000 with a total super balance of less than $500,000 on June 30, 2019.

This means that in 2019/20, she has the ability to make concessional contributions of up to $40,000 into her superannuation fund. Of that, $25,000 is her annual concessional cap and $15,000 is her unused amount from 2018/19, which has been carried forward.

The full $40,000 will be taxed at up to 15% in her superannuation fund.

General advice warning

Pacific Wealth Solutions Pty Ltd ACN 606 717 980 is a Corporate Authorised Representative of NEO Financial Solutions Pty Ltd AFSL 385845 | ABN 64 141 607 098. The advice contained within this document does not consider any person’s particular objectives, needs or financial situation. Before making a decision regarding the acquisition or disposal of a Financial Product, persons should assess whether the advice is appropriate to their objectives, needs or financial situation. Persons may wish to make their assessment themselves or seek the help of an adviser. No responsibility is taken for persons acting on the information within this document. Persons doing so, do so at their own risk. Before acquiring a financial product, a person should obtain a Product Disclosure Statement (PDS) relation to that product and consider the contents of the PDS before making a decision about whether to acquire the product. 

Bring-Forward Rule

The Bring-Forward Rule

Have you ever wondered how to contribute large amounts of savings into Super?

Preparing for retirement can be a challenging time and one of those challenges is maximising superannuation balances and getting more money into your super account up until retirement.

One way of achieving this goal is by using the bring-forward rule.

What is the Bring-Forward Rule?

The bring forward rule quite simply refers to non-concessional contributions which are advanced contributions from a three-year period which are contributed in a shorter time frame.

Since 1 July 2017, the annual non-concessional (after tax) contributions cap is $100,000. The bring-forward rules allow you (if you meet all the eligibility criteria), to make non-concessional contributions of up to three times the annual contributions cap in a single year (3 x $100,000 = $300,000 in 2018/2019 or 2019/2020).

This may help you maximise your superannuation balance into retirement.

What do I need to know?

  • Non-concessional contributions are made into your super account from your after-tax income. These contributions are not taxed in your super fund, but the associated investment earnings are taxed at 15%.
  • To make any non-concessional contributions at all, your total superannuation balance must be less than $1.6 million on 30 June of the previous financial year to the one in which you want to make the contribution.
  • If you want to start making a bring-forward contribution in a particular financial year, you must not have already triggered a bring-forward arrangement in the previous two years.
  • If you are aged under 65, you can make non-concessional contributions up to the annual cap ($100,000 in 2018/2019 or 2019/2020) and use the bring-forward rules. You are not required to be working.
  • If you are aged 65 to 74, you can make non-concessional contributions up to the annual contributions cap only if you meet the requirements of the work test (be ‘gainfully employed’ for at least 40 hours in 30 consecutive days during the same financial year in which the contribution is made). You cannot, however, use the bring-forward rules unless you were 64 for some part of the financial year in which you trigger a bring-forward arrangement

How does a Bring-Forward Arrangement work?

Michael is aged 50 and his total superannuation balance is currently $320,000, but he would like to boost his retirement savings in the years before his planned retirement at 65.

Michael decides to sell an investment property he owns and make a non-concessional contribution into his super account of $300,000 from the proceeds of the sale in August 2018.

As Michael has exceeded his normal annual non-concessional contributions cap of $100,000, he automatically triggers the bring-forward rules by making this large contribution. As he has triggered a bring-forward arrangement, Michael can make no further non-concessional contribution in 2019/2020 or 2020/2021 if he wishes to use up his full $300,000 three-year cap.

In 2021/2022, Michael’s non-concessional contributions cap will reset, and he can make further non-concessional contributions up to the normal annual contributions cap.

General advice warning

Pacific Wealth Solutions Pty Ltd ACN 606 717 980 is a Corporate Authorised Representative of NEO Financial Solutions Pty Ltd AFSL 385845 | ABN 64 141 607 098. The advice contained within this document does not consider any person’s particular objectives, needs or financial situation. Before making a decision regarding the acquisition or disposal of a Financial Product, persons should assess whether the advice is appropriate to their objectives, needs or financial situation. Persons may wish to make their assessment themselves or seek the help of an adviser. No responsibility is taken for persons acting on the information within this document. Persons doing so, do so at their own risk. Before acquiring a financial product, a person should obtain a Product Disclosure Statement (PDS) relation to that product and consider the contents of the PDS before making a decision about whether to acquire the product.