Silicon Valley Bank Collapse - little known bank becomes infamous
Perrier Ryan Financial Advisors • March 14, 2023
Collapse of 2 x US Banks sends shockwaves ... but no contagion risk for now
For more on the story, see our SVB March update, but essentially:
- US regional banks, Silicon Valley Bank (SVB) and Signature Bank collapse unexpectedly - sending shockwaves through markets reminiscent of the GFC
- Regulators, with the approval of US President Joe Biden, step in with emergency provisions to restore confidence in the financial system and to protect depositors' money
- Fears of contagion risk appear to have been successfully mitigated for now.
Importantly, we have established that no active global manager on our approved list or that features in your investment portfolios, has any direct exposure to SVB.
The rush toward end of financial year is on us - here are a couple of important things to consider at this time: Maximise your Super One key opportunity in your superannuation strategy is to make the most of your Concessional Contributions - but get them in before 23 June 2025 to ensure they're processed in time. Another valuable opportunity is the carry-forward contributions - remembering that unused cap amounts from the 2019-2020 FY will expire after 30 June 2025 - so this is your last chance to use them. Take Advantage of the $20,000 instant asset write-off before 30 June 2025 If you're a small business owner, now is the time to consider investing in new equipment or assets. The $20,000 instant asset write-off has been extended for the 2024–25 financial year — but it expires on 30 June 2025 and there is currently no confirmed extension beyond this date. This applies to assets that are first used or installed ready for use between 1 July 2024 and 30 June 2025. For more, see our attached information , or, call the office - 3391 7566
Calculating WFH Deductions - a summary
Did you know about the Scan function in Notes on your iPhone?
If ever you need to recover your Director ID number, here are some instructions to assist with that
Effective 7 March 2025, Perrier Ryan General Insurance portfolio was sold to Benjamin & Benjamin Insurance Group
TAX UPDATE: Temporary increase to the instant asset write off (IAWO) threshold extended to FY2025
