Market Volatility – The Order of the Day

Market Volatility – The Order of the Day

Market Volatility – The Order of the Day

Up 1% one day then down 3% the next day then up 2% then down 2% then flat for 3 days then down 2%. It is enough to make us jittery especially when this sort of VOLATILITY continues for a month or more.

Keeping it simple – Sometimes it is important to remember just like a lift in an office building:

“IT MUST GO DOWN BEFORE IT CAN GO BACK UP”

The lift cannot go up for ever (before it needs to go down again) – there is a limit to the top floor. A bit of philosophy – in our own makeup for one to be happy then this state of mind has to have been preceded by unhappy, or at least, not so happy.

A negative or positive must be (at some stage) preceded by one or the other. That is mathematics.

We ask ourselves what is around the corner. We don’t have a special ‘around the corner’ mirror (as per multi story shopping centre parking areas) to see ahead. It would be nice if we did. We could sit on the beach all day and invest with no jitters because we know what is going to happen.

Share markets over 20 to 30 plus years have provided returns of approximately 10% to 12% per annum (income and capital growth). It would be nice for this to be a fairly even steady say 1% a month, every month. But unfortunately, the market does not work that way and we get variations (sometimes extreme). This is the price we pay for trying to get a return well above inflation over the long term.

Nevertheless, we can invest (especially regularly to get the benefits of dollar cost averaging into the market) knowing that “things” will turn around (meaning perhaps less volatility) and returns from the share market (with a well-diversified portfolio) will revert to a mean over the long term.

RECESSION – LONG TERM BOND RATES ARE LOWER THAN SHORT TERM BOND RATES

There is a lot in the media about the INVERTED YIELD CURVES and the possibility of these leading to a US recession – again we cannot predict with absolute certainty however, with continued support from US monetary policy, US unemployment falling to record levels and limited growth in US public sector debt, there is little supporting indicators to suggest a recession is nearby.

In the immediate short-term, share markets will most likely continue to be volatile and could still fall further as US trade issues and economic growth uncertainties remain at the forefront of World News.

Moreover, the following points need to be kept in mind during these uncertain and volatile times:

  • While shares may have fallen in value, on average the dividends being paid from the overall market have not fallen. The income you are receiving from a diversified portfolio of shares remains much the same and very attractive versus fixed interest rates as well as franking credits that may apply.
  • Daily/Weekly/Monthly drop downs in markets are healthy and normal. This volatility is the price we pay for the higher long-term return from shares. Recent good growth since last year meant there was always going to be some pullback.
  • Selling shares or switching to a more defensive or conservative strategy after falls in the market just locks in a loss of capital. We should always have a long term investment view which has been well planned and not subject to the emotion resulting from volatility.
  • For retirees in particular (but even accumulators) with cash rates at very low rates, a large portion of our investments in this area will have an impact on “HOW LONG WILL MY CAPITAL LAST IN RETIREMENT”.
  • Try turning off the TV, the phone and not reading the newspaper as this makes you more oblivious to all the hype/noise – not practical and just kidding of course. They (THE MEDIA) don’t talk much about a market that does 3% in one or two days.

At Plus 1 Group, we are available at any time to discuss issues of this nature with due regard to your investments or financial planning generally.

Open Hours

Monday to Friday
8:00am to 5:00pm

Closed Public Holidays

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Shepparton, VIC 3630

T: (03) 5833 3000
F: (03) 5831 2988
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Market Insights – 26th of August 2019

Market Insights – 26th of August 2019

Market Insights

27th August 2019

Top Stocks

Market and Exchange Rates

Commodities

Major Market Announcements

  • NAB is facing hundreds of civil charges and a potential fine above $500 million over a scheme that led to bankers, as well as tailors and gym owners, making millions in commissions from potentially dodgy home loans.
  • The cost of irrigation water in the southern Murray-Darling Basin has skyrocketed by nearly 140 per cent in just 12 months, a new report by water consultancy Aither has found.
  • Australians should ‘get used to’ US-China trade war as superpowers tussle for supremacy. Turbulent financial markets and reduced influence is becoming the new reality as China flexes its financial muscles in Australia’s backyard.
  • Tech jobs are waiting for Australians but not enough people have the skills, companies say. Cochlear, Resmed, Atlassian, Freelancer, CSL, WiseTech Global, Rode Microphones, and the list goes on. All Australian, and all world leaders in their field.
  • Commonwealth Bank has renegotiated the sale of its CommInsure life insurance business to AIA for $2.375 billion, $150 million less than the original sale price.

Market Update

Australian shares recovered last week following a bruising start to August, registering the first gain since late July as risk aversion subsided around the world.

The S&P/ASX 200 rose 1.84 per cent for the week, or 117.6 points, to close at 6523.1, trimming the decline from the record high of 6875.5 set on July 30 to 5.4 per cent. On Friday, the S&P/ASX 200 finished 0.3 per cent higher.

Despite being the busiest week of the domestic corporate earnings season, it was once again global factors that dictated the broader market direction.

“The past week saw global share markets recover some of their recent losses, helped by hope for more trade talks, a temporary Huawei reprieve, good earnings reports from US retailers and more talk of fiscal stimulus in Germany and the US,” Shane Oliver, head of investment strategy and chief economist at AMP Capital, said in a note to clients.

“The positive global lead helped boost the Australian sharemarket for the week.”

By sector, the gains for the local market were led by information technology and energy which jumped 7 and 5.5 per cent respectively. Healthcare, A-REITs and consumer discretionary also posted gains of between 3.1 and 4.4 per cent. Financials – the largest sector by market cap – rose by a smaller 1.7 per cent.

Materials was an exception to the broader trend, sliding 2.5 per cent to close at a 14-week low.

Volatility – The Order of the Day

NON-FINANCIAL THINKING

Keeping it simple – Sometimes it is important to remember just like a lift in an office building:  

“IT MUST GO DOWN BEFORE IT CAN GO BACK UP”

The lift cannot go up for ever (before it needs to go down again) – there is a limit to the top floor. A bit of philosophy – in our own makeup for one to be happy then this state of mind has to have been preceded by unhappy, or at least, not so happy.

A negative or positive must be (at some stage) preceded by one or the other. That is mathematics.  

FINANCIAL THINKING

Up 1% one day then down 3% the next day then up 2% then down 2% then flat for 3 days then down 2%. It is enough to make us jittery especially when this sort of VOLATILITY continues for a month or more. We ask ourselves what is around the corner. We don’t have a special ‘around the corner’ mirror (as per multi story shopping centre parking areas) to see ahead. It would be nice if we did. We could sit on the beach all day and invest with no jitters because we know what is going to happen.

Share markets over 20 to 30 plus years have provided returns of approximately 10% to 12% per annum (income and capital growth). It would be nice for this to be a fairly even steady say 1% a month, every month. But unfortunately, the market does not work that way and we get variations (sometimes extreme). This is the price we pay for trying to get a return well above inflation over the long term.   

Nevertheless, we can invest (especially regularly to get the benefits of dollar cost averaging into the market) knowing that “things” will turn around (meaning perhaps less volatility) and returns from the share market (with a well-diversified portfolio) will revert to a mean over the long term.

There is no doubt tweets and the like from our Mr Trump on a range of world issues are not to be underestimated for some of the reasons of the increased volatility.  

RECESSION – LONG TERM BOND RATES ARE LOWER THAN SHORT TERM BOND RATES

There is a lot in the media about the INVERTED YIELD CURVES and the possibility of these leading to a US recession – again we cannot predict with absolute certainty however, with continued support from US monetary policy, US unemployment falling to record levels and limited growth in US public sector debt, there is little supporting indicators to suggest a recession is nearby.

In the immediate short-term, share markets will most likely continue to be volatile and could still fall further as US trade issues and economic growth uncertainties remain at the forefront of World News.

Moreover, the following points need to be kept in mind during these uncertain and volatile times:

  • While shares may have fallen in value, on average the dividends being paid from the overall market have not fallen. The income you are receiving from a diversified portfolio of shares remains much the same and very attractive versus fixed interest rates as well as franking credits that may apply.
  • Daily/Weekly/Monthly drop downs in markets are healthy and normal. This volatility is the price we pay for the higher long-term return from shares. Recent good growth since last year meant there was always going to be some pullback.
  • Selling shares or switching to a more defensive or conservative strategy after falls in the market just locks in a loss of capital. We should always have a long term investment view which has been well planned and not subject to the emotion resulting from volatility.
  • For retirees in particular (but even accumulators) with cash rates at very low rates, a large portion of our investments in this area will have an impact on “HOW LONG WILL MY CAPITAL LAST IN RETIREMENT”.
  • Try turning off the TV, the phone and not reading the newspaper as this makes you more oblivious to all the hype/noise – not practical and just kidding of course. They (THE MEDIA) don’t talk much about a market that does 3% in one or two days.

At Plus1, we are available at any time to discuss issues of this nature with due regard to your investments or financial planning generally.

All Ordinaries (XAO) 5 Day Chart

Disclaimer: The advice provided is general advice only. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this advice you should consider the appropriateness of the advice, having regard to your own objectives, financial situation and needs. Where quoted, past performance is not indicative of future performance.

Open Hours

Monday to Friday
8:00am to 5:00pm

Closed Public Holidays

Plus 1 Group logo

If you need to get us documents quickly, access remote support, or the MYOB Portal click the button above.

Contact Us

27 Welsford Street
Shepparton, VIC 3630

T: (03) 5833 3000
F: (03) 5831 2988
Email Us

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Sentinel Wealth Unit Trust T/As Plus 1 Wealth Advisors (ABN:11 408 695 672) is an Authorised Representative of Sentinel Wealth Managers Pty Ltd
(ABN: 73 108 328 294) AFS Licence 322211 | Financial Services Guide

Market Insights – 26th of August 2019

Market Insights – 19th of August 2019

Market Insights

19th August 2019

Top Stocks

Market and Exchange Rates

Commodities

Major Market Announcements

– U.S. stocks rebounded on Friday as an ebbing bond rally and news of potential German economic stimulus brought buyers back to the equities market, closing the book on a tumultuous week.

– Treasurer Josh Frydenberg has revealed an “implementation road map” around the 54 recommendations from the financial services royal commission that called for Government action.

– Calls for greater regulation of ‘buy now, pay later’ services like Afterpay and Zip Pay. Popular “buy now, pay later” services like Afterpay and Zip Pay have been the subject of more than 250 complaints to the Australian Financial Complaints Authority in the eight months to the end of June.

– Seven West Media chief executive Tim Worner has unexpectedly resigned, with chairman Kerry Stokes declaring “now is the time for change”.

– Telstra has offloaded its 49 per cent stake in a newly established property trust to a consortium led by Charter Hall for $700 million.

– Hearing implant maker Cochlear has boosted its dividend after reporting a 13 per cent increase in full-year profit to $277 million.

– On Wednesday the 14th of August in the US something not seen since 2007 shocked investors around the world. The yield curve between US Treasury 2 year and 10 year bonds inverted.

This means the historical expectation of investors demanding higher yields for longer term holdings had shattered, albeit briefly, as the curve, or spread between short- and long-term interest rates, flattened again.

By the end of the trading day in New York, the Dow Jones Industrial Average (DJIA) had fallen 800 points, or 3%. The carnage followed to the ASX where early Thursday morning trading saw a drop of 154 points, around 2.3%. Frightened investors looking for advice are deluged with varying opinions on the impact of an inverted yield curve over time, with some citing its accuracy in predicting recessions and others heralding it as a “BUY” signal.

Market Update

The Australian share market has finished nearly flat as declines in the energy and mining sectors outweighed gains by the big banks.

The S&P-ASX 200 index closed Friday down 2.6 points to 6405.5, while the all ordinaries was down 4.9 points to 6485.9.

The 178 points, or 2.7 per cent, loss for the week was the ASX200’s second-worst for the year – exceeded only by last week’s 184-point loss.

“Should nothing change in a fortnight this will be the worst month since October of last year,” said CommSec market analyst Steven Daghlian.

The financial sector was the biggest gainer, up 0.7 per cent, with Commonwealth Bank up 1.0 per cent to $75.12Westpac up 0.8 per cent to $27.82ANZ up 0.6 per cent to $26.39 and NAB up 0.9 per cent to $27.03.

The heavyweight mining sector fell 0.7 per cent, with BHP falling 0.6 per cent to $36.17 and Rio Tinto down one per cent to $84.72 while Fortescue Metals gained 2.1 per cent to $7.66.

Australia’s biggest gold miner, Newcrest, was down 1.4 per cent to $36.26 despite announcing it had made $US561 million ($A826m) in full-year profit, its best results since 2012.

Newcrest’s Cadia gold mine 250km west of Sydney had record production at record low cost, and it now has the lowest production cost of any major gold mine, Mr Daghlian said.

The energy sector was down 0.9 per cent as a whole, with Oil Search down 3.7 per cent to $6.31 after Papua New Guinea officials said reopened negotiations with Oil Search’s joint venture partner Total SA on sharing natural gas revenues could end “disastrously”.

oOh!media shares plunged 27.5 per cent to a five-year low of $2.93 after the outdoor advertiser blamed poor media advertising spend for a cut to its full- year earnings guidance.

Whitehaven Coal fell 5.3 per cent to $3.2 after announcing its full-year profit was up 0.6 per cent to $527.9 million.

Credit Corp gained 13.3 per cent to a three-week high of $27.27 after buying fellow debt collector Baycorp Holdings from Encore Capital Group for $65 million.

Domain Holdings rose 2.1 per cent to $2.93 after the domain.com.au owner’s underlying profit increased 59 per cent to $37.4 million.

Rebel Sports owner Super Retail Group rose 7.9 per cent to $9.75 after broker upgrades following Thursday’s earnings results.

Furniture retailer Nick Scali rose 2.2 per cent to $6.54 after reporting a 2.8 per cent rise in full-year profit, to $42.1 million.

Star Entertainment Group rose 5.9 per cent to $3.79 after announcing statutory profit was up 33.7 per cent to $198 million, in part because gamblers had been unlucky at the tables.

The Aussie dollar is buying 67.83 US cents, unchanged from Thursday.

Looking forward, it will be busy next week, with numerous companies reporting earnings including BHP, A2 Milk, Origin Energy and Qantas.

Active and Passive Investing Combinations  

Whether you are using an active, passive or combination approach a focus should be on keeping costs low.

A combination of Managed Funds, Direct Equities and Exchange Traded Funds can create a competitive investment solution.

Actively managed investments offer an opportunity for out-performance, but they can also bring greater relative risk and unpredictability.

CORE-SATELLITE APPROACH

One way to best manage this is with a “core-satellite” strategy which employs indexing as the “core” of a portfolio and actively managed funds as “satellites” This idea recognises the strengths of index and active fund management and combines the best aspects of both approaches.

The indexed core provides a risk-controlled, low-cost way to capture market returns over the long term, while the actively managed satellite provides an appointment for potential market out performance.  

Active approach

Index approach

Seeks to outperform the market

Seeks market return

Higher costs

Lower costs

Higher manager risk

Lower manager risk

Shorter-term focus

Longer-term focus

Lower potential tax-efficiency

Higher potential tax efficiency

The Core-satellite methodology combines the benefits of index funds – lower cost, broader diversification, tax efficiency and lower volatility – with actively managed ‘satellites’ offering potential to outperform the market. Satellites should be chosen that display low levels of correlation in regard to excess return. Satellites provide diversification and complementary risk and return characteristics to a portfolio.

Points to consider;
There is no guarantee that a combined active/passive approach will be less risky than an all-active or all-index approach and will achieve comparable returns.

Whether you choose active or passive funds, you should consider funds that have low overall costs to increase the probability of long-term success. Costs directly detract from investment returns.

All Ordinaries (XAO) 5 Day Chart

Disclaimer: The advice provided is general advice only. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this advice you should consider the appropriateness of the advice, having regard to your own objectives, financial situation and needs. Where quoted, past performance is not indicative of future performance.

Open Hours

Monday to Friday
8:00am to 5:00pm

Closed Public Holidays

Plus 1 Group logo

If you need to get us documents quickly, access remote support, or the MYOB Portal click the button above.

Contact Us

27 Welsford Street
Shepparton, VIC 3630

T: (03) 5833 3000
F: (03) 5831 2988
Email Us

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Professional Standards Legislation logo
Platinum Xero Partner
MYOB logo
Quickbooks logo

Sentinel Wealth Unit Trust T/As Plus 1 Wealth Advisors (ABN:11 408 695 672) is an Authorised Representative of Sentinel Wealth Managers Pty Ltd
(ABN: 73 108 328 294) AFS Licence 322211 | Financial Services Guide

Market Insights – 26th of August 2019

Market Insights – 12th of August 2019

Market Insights

12th August 2019

Top Stocks

Market and Exchange Rates

Commodities

Major Market Announcements

– U.S. stocks fell on Friday following renewed jitters over the U.S.-China trade war, capping a week of trading that saw big swings and high volume.

– The Western Australian Government has been left walking a fine line in navigating the state’s economic reliance on China in the midst of a trade war and rising security tensions between the superpower and the United States. China has been WA’s largest trading partner for the past 13 years, with half of the state’s exports going there. WA exports more goods to China than all the other states and territories combined. On the flip side, Chinese visitors were also WA’s largest spenders in 2018.

– Subway has said it could terminate franchisees that do not pay staff properly after it emerged the US sandwich giant is under investigation by the Fair Work Ombudsman over underpayment of local employees.

– Wage and unemployment numbers set to pressure RBA to cut interest rates again: Reserve Bank governor Philip Lowe’s thesis that the “economy may have reached a gentle turning point” looks like getting a brutal reality check. Two of the RBA’s greatest irritants — unemployment and wage growth — are updated this week; and if forecasts are correct, they are likely to exhibit a turn for the worse. The consensus view of market economists is the unemployment rate will tick up again, this time to 5.3 per cent.

Market Update

The Australian share market has finished with modest gains to close out its worst week since November.

The benchmark S&P/ASX200 index closed Friday up 16.3 points, or 0.25 per cent, to 6,584.4 points, while the broader All Ordinaries finished up 21.1 points, or 0.32 per cent, to 6,663.4 points.

For the week, the ASX200 ended down 184 points, making for its worst week since 191-point loss in mid-November.

“I think the market’s still very nervous with anything that pops up on trade,” said X-change co-founder and director Nick Twidale, referring to the tension between the US and China.

The tech sector was the only one to move more than a percentage point, posting an overall gain of 1.3 per cent.

Afterpay rose 6.1 per cent to $24.17 after the buy-now, pay-later company said it now had more than two million US customers, up from 1.5 million in early June.

Wealth management software company Praemium was up 13.3 per cent, Wisetech Global rose 2.7 per cent and Altium was up two per cent.

James Hardie was the biggest ASX200 gainer, up 13.7 per cent to an 11-month high of $21.62 after the building materials company said it expected to make more profit this year than analysts had forecast.

AMP shot up 11.6 per cent to a three-week high of $1.93 after the fallen banking and wealth giant completed a $650 million capital raising to fund its three-year turnaround.

The big banks were mostly up, with Commonwealth gaining 0.6 per cent to $79.42Westpac up 0.5 per cent to $28.21 and ANZ up 0.7 per cent to $27.

NAB was the outlier, declining 0.3 per cent to $27.65.

The mining sector was mixed despite a rise in the price of iron ore, with BHP down a single cent to $37.29Rio Tinto down 0.9 per cent to $87.69 but South32 up 1.8 per cent to $2.88.

Brisbane-headquartered Argentinian lithium producer Orocobre was up 10.3 per cent to $3.01 after ground was broken on a lithium hydroxide plant in Japan it holds a 75 per cent stake in.

Goldminers were mostly down after several days of strong gains, even as the price of the precious metal stayed firm above $US1,500 an ounce.

Newcrest fell 0.6 per cent, Northern Star was down 2.4 per cent and Saracen dipped 2.6 per cent.

News Corp was up 1.3 per cent to $19.90 after the media company said it had achieved a $US228 million ($A423 million) full-year profit.

REA Group was up 5.6 per cent to $96.64 after announcing underlying profit rose 5.5 per cent to $295.5 million.

The Aussie dollar rose for a fourth straight day, buying 68.16 US cents, from 67.68 US cents on Thursday.

Looking forward, Mr Twidale said he expected trade issues to dominate next week, with attention focused on the fixing rate for China’s yuan.

A number of companies will be reporting earnings including; CSL, JH Hi-Fi, Challenger, Vicinity Centres, Evolution Mining, Orora and Pact Group.

Investing in an unprecedented Low Interest Rate Environment  

RBA Cash Rates – Ridiculously High and now Ridiculously Low

As most of us would be aware there was a further reduction in the RBA Cash Rate in the month of July 2019 now down to 1% per annum. For the older folk we will remember very high cash rates in fact the rate in January 1990 was 17.50% albeit higher inflation was relevant in that era so the power of one’s purchasing dollar changed quickly.

The following graph depicts where interest rates have gone (mainly south) in the past 29 years since January 1990.

In the current economic environment, looking for good yields or higher interest rates is extremely difficult.

In this environment we have a tendency to look for HIGHER YIELD by way of perhaps:

  • Property Trusts
  • Mortgage Backed Securities

where income is advertised as say 4% to 6% per annum.

Extra care needs to be taken in chasing these yields. The questions we must ask ourselves is:

  • Why is the interest rate higher than say a term deposit of 1.50% to 2.50% at present
  • What assets are actually backing the investment?
  • What are the risks associated with investment?
  • Will I put my capital at risk or is that Okay?

Some of us who have been around for a while will remember the corporate collapses of:

  • Pyramid Building Society
  • Banksia Investments
  • And the like

All of who offered higher yield but with CAPITAL PROTECTION ISSUES.

Whilst some exposure to a diversified investment portfolio may include some of these types of investments, this may be appropriate for some investors but it is clearly not for everyone and certainly not for all of our savings.

A STRONG REMINDER ON THE SIMPLISTIC:

  • LOW RISK – LOW RETURN
  • MEDIUM RISK – MEDIUM RETURN
  • HIGH RISK- HIGH RETURN

You cannot get blood out of a stone and similarly in today’s economic environment you cannot get a HIGH YIELD without delving into some sort of risk associated with one’s quest for that higher yield.

Should I Look to Shares for More Yield

Let’s get it out of the way first – of course there is additional RISK IN REDUCTION of THE CAPITAL VALUES of MONIES YOU HOLD IN SHARES as compared to virtually no risk in term deposits and cash based accounts.

However, having due regard to average dividend yields of 3% to 5% per annum  (depending on companies chosen within a portfolio of shares)  and an appropriate management of specific company risk (by a diversified portfolio of shares) then this higher income option maybe a good alternative option or at least a combined cash account/term deposit/share based investment portfolio.

As per usual one’s preferred not just income needs but timeframe and your overall investment portfolio needs to be considered along with personal preferences in trying to get more yield/income. This is especially the case if the need for more income is for lifestyle needs.

Alternatively, it may be necessary to draw on some of the growth experienced in shares to provide for lifestyle needs. This is food for thought and also something not easily obtained in residential investment property as you just cannot sell the laundry (so to speak) to get some capital drawdown for supporting lifestyle needs.

Heaven help us if the RBA Cash Rate ever got to zero and similarly commensurate fixed interest returns as well then for 100% fixed interest investors drawing on capital maybe the only option left to live our chosen lifestyle. .

At Plus 1 Group we are available at any time to discuss issues of this nature with due regard to your investments or financial planning generally.

All Ordinaries (XAO) 5 Day Chart

Disclaimer: The advice provided is general advice only. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on this advice you should consider the appropriateness of the advice, having regard to your own objectives, financial situation and needs. Where quoted, past performance is not indicative of future performance.

Open Hours

Monday to Friday
8:00am to 5:00pm

Closed Public Holidays

Plus 1 Group logo

If you need to get us documents quickly, access remote support, or the MYOB Portal click the button above.

Contact Us

27 Welsford Street
Shepparton, VIC 3630

T: (03) 5833 3000
F: (03) 5831 2988
Email Us

CPA Logo
Professional Standards Legislation logo
Platinum Xero Partner
MYOB logo
Quickbooks logo

Sentinel Wealth Unit Trust T/As Plus 1 Wealth Advisors (ABN:11 408 695 672) is an Authorised Representative of Sentinel Wealth Managers Pty Ltd
(ABN: 73 108 328 294) AFS Licence 322211 | Financial Services Guide

Fuel Tax Credits Update

Fuel Tax Credits Update

Fuel Tax Credits Update

The fuel tax credit rates below have changed, effective 5 August 2019. Different fuel tax credit rates will need to be claimed for fuel acquired before and after August 4.

Fuel purchased for on-road use in eligible heavy vehicles
New rate: 16.0 cents per litre (previously 15.8 c per litre).

Fuel purchased for powering auxiliary equipment
New rate: 41.8 cents per litre (previously 41.6 c per litre).

For fuel tax credit rates lists please click here.
For the ATO fuel tax credit calculators please click here.

Please call our office should you have any queries.

Open Hours

Monday to Friday
8:00am to 5:00pm

Closed Public Holidays

plus-1-logo

If you need to get us documents quickly, access remote support, or the MYOB Portal click the button above.

Contact Us

27 Welsford Street
Shepparton, VIC 3630

T: (03) 5833 3000
F: (03) 5831 2988
Email Us