Todd is committed to providing personalised financial guidance to his clients. With nine years of experience in the financial planning profession, Todd brings a wealth of knowledge and expertise to help individuals and families navigate their financial journey. Todd’s approach to financial planning is rooted in empathy, understanding, and collaboration. He believes in taking the […]
Key points If an SMSF member loses mental capacity, the fund risks becoming non-compliant unless swift action is taken to remove them as trustee or director. Establishing an Enduring Power of Attorney (EPOA) for each SMSF member ensures continuity by allowing a trusted person to act on their behalf. Appointing a corporate trustee instead of […]
Key points Stage 3 tax cuts from 1 July 2024 reduce income tax rates and raise thresholds, delivering savings for all taxpayers. Redirecting your tax cut into super is a tax-effective way to grow retirement savings. Super contribution caps have increased, offering more room for concessional and carry-forward contributions. What will you do with your […]
Key points SMSFs offer flexibility to invest in property, collectables, and private assets not typically available in industry funds. Strategies like deferred contributions and downsizer payments help optimise tax and boost super balances. Equalising member balances and managing death benefits improves long-term tax efficiency and estate planning outcomes. There are many ways to maximise your […]
Super contribution limits Due to indexation arrangements, superannuation contribution limits are set to increase from 1 July 2024. Please refer to the information below for further details. Concessional and non-concessional contribution limits The concessional contribution limit will increase from $27,500 to $30,000 from 1 July 2024. As the non-concessional contribution limit is set at four […]
The Government continuously make changes to superannuation rules which makes it necessary to review an individual’s superannuation setup each year. Below is an overview of some of the key areas that should be considered prior to 30 June 2024. Contributions What are the types of contributions? Superannuation contributions fall into two main categories: concessional and […]
Key points SMSFs offer greater control over investments, allowing business owners to align their super with personal interests and business needs. Owning commercial property through an SMSF and leasing it back to the business can improve asset control and reduce rental costs. SMSFs provide flexibility in estate planning, enabling trustees to direct benefits and minimise disputes […]
Key points SMSFs can be cost-effective starting from $100,000, not just for large balances. Pooling funds from up to six members boosts cost efficiency. SMSFs offer flexibility but require time, expertise, and trustee responsibility. There is still a misconception among owners of small to medium businesses (SME) that self managed superannuation funds (SMSF) are only […]
Key points From 1 July 2024, concessional caps rise to $30,000 and non-concessional caps to $120,000, boosting super contribution potential. Bring-forward provisions allow up to $360,000 in non-concessional contributions over three years, depending on your Total Superannuation Balance. Thresholds for bring-forward eligibility are lowering, making it harder for some to qualify based on their super […]
Key points Act early to protect income, assets, and retirement plans during divorce. Business and company assets may be affected by divorce decisions. Ensure smooth financial transitions to the right people at the right time Getting a divorce has a big impact on household incomes and wealth in the short term and the long term, […]
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