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May 2007 Newsletter

Welcome to Lewis Financial's May 2007 Newsletter.

In this edition we turn our attention to the 2007 Federal Budget ,which was released earlier in the month, with an overview of the proposed changes to Taxation, Superannuation and Social Security Benefits.

We look at a commentary on the investment implications of the continued lowering of personal tax rates and, in particular, questions the benefits of gearing and residential property.

We have also included two related articles by AMP's Chief Economist, Dr Shane Oliver. The first article discusses the US economic downturn and the de-synchronisation of the world economies.

The second article discusses the outperformance of Australian Shares versus Global Shares in the past decade and analyses the question of whether it is time for investors to allocate a greater portion of their savings to global shares.

For a bit of variety, we have added a 'recipe' section to our Newsletter. This month's recipe is Cranberry & White Chocolate Biscuits. Enjoy.

We hope, as always, that you find the articles of interest. If you have any questions, please feel free to contact us.

Federal Budget 2007 – an overview

The 2007 Federal Budget was handed down on 8 May. Some of the proposals that may impact your financial plans are set out below.

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Living with lower tax rates

In contrast to previous years, the Treasurer’s Budget Statement this month contained little in the way of change that would have significant implications for investors.

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De-synchronised global growth – implications for investors

While the US economy has slowed sharply over the last year the rest of the world remains robust.

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Australian versus global shares – time to go more global?

There is a theoretical case for Australians to have a higher allocation to global shares on a very long term view and the recent out performance by Australian shares and the loss of their valuation advantage has made the case for global shares a bit stronger.

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Recipe - Cranberry & White Chocolate Biscuits

A delicious biscuit perfect for enjoying with company.

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