Superannuation

To Access or Not to Access (Your Super Early)? That is the Question.

Amid the raft of measures announced by the Commonwealth Government last month, one of the more contentious was the decision to allow limited access to superannuation benefits to people who are ‘under-age.’ This change took effect from Monday of this week. Whether withdrawing makes sense in your case depends very much on your unique situation.

Estate Planning and Super

When it comes to estate planning, many people overlook their superannuation. This is risky, because superannuation does not necessarily form part of your estate. This means that your regular legal will may not address what happens to your super when you no longer need it.

Consolidating Super

Every year we make it a point to write at least one blog article on consolidating super. Consolidating super is where benefits held in two or more super and funds are rolled over into a single fund - either one of the existing funds or a new fund altogether. Over time, consolidating super can have a substantial impact on your retirement benefits.

Personal Super Contributions. Having your cake and eating it too.

Usually, to get a tax deduction, you need to spend money. And spending money makes you less wealthy. However, there is one kind of ‘expense’ that lets you have your financial cake and eat it too. Read on while we explain.

Co-Contributions. You Can Get Something for Nothing.

If you have a spare $1000, you might consider making an extra contribution to your super fund. If your income is otherwise low, the Commonwealth government will give you up to an extra $500.

What happens to your super when you don’t need it any more?

Superannuation benefits are not automatically subject to your will. That means the trustees may not send the money where you want it to go when you die. But there is a solution! Read on.

Splitting super contributions between you and your spouse.

'Super splitting' is not just a term for managing super when a couple separates. Couples who remain together can also split super between themselves. This opens up a raft of planning opportunities, which we explore in this week's article.

The Government is Giving Away Free Money!!!

Yes, it’s true. The government is giving away free money. There are a few catches, however, and they’re not going to give you a fortune. But if you qualify, this is a government perk that is well worth contemplating.

Personal super contributions – let’s hear it for the Tax Office!

As of 2017, almost all working Australians can make a personal superannuation contribution for which they claim a tax deduction. For most people, this provides an immediate positive return on their investment. This article explains how to make the most of personal superannuation contributions.

Opportunity Cost

There are two ways to think about the price of anything. The first is the number of dollars it would cost to purchase that thing. The second is to think about what else we could spend our money on. This is called ‘opportunity cost’ and it is always worth remembering when you make a purchase.