Superannuation

Age Pension entitlements Gifting and deprivation rules

 The Government’s Age Pension remains a vital source of income for many older Australians in retirement. For example, in June 2018, 2,477,861 million people aged 65 and over received at least a partial Age Pension; this represented 64.15% of the total number of older Australians (3,862,591 million)*^. Importantly, there are specific eligibility tests (age, residency, assets and income) that need to…
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Accessing Superannuation When Affected by the Bushfires

 Shartru – access to superannuation   With the devastating impacts, the Australian bushfires are wreaking on our physical environment thought must be given to those individuals and families who face the potential loss of regular income through employment or self-employment and those businesses which may face extended periods of closure, minimal trading and significant loss…
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Australia’s three-pillar retirement income system

 Depending on your personal circumstances, your retirement income may come from a variety of sources. For example, investments (inside and/or outside super) and social security entitlements, such as the Age Pension. These sources of retirement income are important to understand; especially if, for example, you envision yourself enjoying a particular type of lifestyle in retirement. Given this, in…
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SMSF Strategies

 Maximise super contributions Super members face the challenge of trying to maximise contributions into the concessionally-taxed super system while not falling into the potentially costly trap of overshooting their contribution caps. If you are in a position to contribute to contribution caps and you don’t, you have lost a tax-planning opportunity, If you don’t use…
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Top 5 Superannuation Mistakes

 1. Having multiple super funds Multiple funds means multiple fees and likely multiple insurance policies and premiums. The number one mistake we see is not having all of your super in the one fund. How can you keep track of performance & fees where you have two, three or even four funds? Number one super…
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The top 10 facts about account-based income streams

 As retirement moves closer into focus, you might start to give a thought towards the options available to you. Especially, in terms of utilising the accumulated wealth inside of super, to fund your retirement lifestyle. It’s important to understand that there are several options available to you; for example, depending on your personal circumstances, you can…
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Self-managed super funds (SMSFs): Sector insights

 When it comes to the sustainability of Australia’s retirement income system (in the context of an ageing society), a three-pillar approach has been pursued by the Government for the last few decades. This three-pillar approach comprises of the following: 1. The means-tested and publicly funded Age Pension; 2. Compulsory private savings through the Super Guarantee arrangements; and 3. Voluntary…
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Your total super balance and wealth accumulation

When it comes to accumulating wealth inside of super, it’s important to keep track of your total super balance (TSB). This is pertinent from not only a financial situation, goals and objectives perspective, but also the fact that your TSB can impact your capacity to use several wealth accumulation strategies. Your total super balance (TSB) and wealth…
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8 Myths of Superannuation

1. It is an investment not a tax structure A super fund is a trust which is subject to special rules on the taxation and preservation of your accumulated benefits; and can invest into a range of investments and asset classes. Regardless of age, your super is an investment where you can actively choose your…
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