Superannuation

Understanding SMSF loans

Understanding SMSF loans

Loaning money from an SMSF to fund members or relatives is against the super laws and can result in large fines for trustees, so it’s important to know the rules and not use SMSF savings for anything other than retirement purposes. New ATO estimates show that, in 2020...

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New increased super contribution caps

New increased super contribution caps

As the end of the financial year approaches, some investors are considering the most effective ways to boost their super balance, especially with increased super contribution caps from 1 July. The concessional contributions cap, which is the maximum amount of...

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How will you use your super?

How will you use your super?

We spend decades watching our super balances grow but for those thinking about retirement in the next few years, it can be confusing to work out how best to use your super. Here are some of the considerations for the popular options. Easing into retirement You can...

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Catch up on super to boost retirement savings

Catch up on super to boost retirement savings

If you’ve had irregular or interrupted income in the past, you might have missed out on opportunities to contribute to super and boost your retirement savings. If you don’t fully utilise your concessional cap, and you’re eligible, you may be able to 'catch up' on...

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Tax and the super after-life

Tax and the super after-life

Many people assume there is no tax payable on super benefits received after someone passes away, but that’s not always the case. Whether or not tax is paid on a super death benefit depends on the beneficiary’s relationship with the deceased. Although some...

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5 ways to boost your super

5 ways to boost your super

Did you know it's likely you’ll spend up to two decades or more in retirement? It’s a long time, so will you be able to afford all the things you’ve thought of doing in retirement before your savings run out? By starting now and making small changes to how you...

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Boosting super with a lump sum

Boosting super with a lump sum

If you’re lucky enough to have received a windfall, perhaps an inheritance or a retrenchment payout, your first decision will be what to do with it. Assuming you have decided against a shopping splurge, finding the best place to invest a lump sum is all about the...

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Will these super changes affect you?

Will these super changes affect you?

As our superannuation balances grow larger, it makes more sense than ever to keep track of the many rules changes that have recently happened or are coming up soon. So, check out these latest changes in case they affect you. Super bonus for workers For employees, the...

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Get super ready for EOFY

Get super ready for EOFY

Superannuation has dominated recent headlines, with proposed changes announced by Treasurer Jim Chalmers. While the details of these changes still need to be released, it’s worthwhile turning our focus to superannuation balances as we approach the end of financial...

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Illegal early SMSF access on the radar

Illegal early SMSF access on the radar

Since the Albanese Government announced its intention to double the tax on investment earnings for super account balances over $3 million, there has been lots of talk about taking money out of self-managed superannuation funds (SMSFs) to avoid the tax hikes. As SMSF...

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Making the most of your super limits

Making the most of your super limits

Getting more money into superannuation is a proven way of building wealth to spend in retirement. Ongoing contributions from your employer over the course of your working life, and potentially extra contributions made by you, can make a huge difference to your super...

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Mortgage vs Super

Mortgage vs Super

With interest rates on the rise and investment returns increasingly volatile, Australians with cash to spare may be wondering how to make the most of it. If you have a mortgage, should you make extra repayments or would you be better off in the long run boosting your...

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