Key points You can access super via a Transition to Retirement Income Stream (TRIS) without retiring. TRIS allows part-time work while drawing income from super. Tax benefits vary based on age and preservation status. Reducing your hours at work may be appealing but how do you maintain your income to make the most of more […]
With the new financial year underway, two major changes to superannuation are likely to impact many retirees to some extent
Key points A Self-Managed Super Fund (SMSF) offers Australians greater control and flexibility over their retirement investments, including property and shares. SMSFs are best suited for individuals who are financially engaged, goal-oriented, and willing to take on trustee responsibilities. While SMSFs can be cost-effective and empowering, they require dedication and a clear understanding of long-term […]
Key points Choosing between an individual or corporate trustee is a foundational decision when setting up a self-managed superannuation fund (SMSF). Corporate trustees offer streamlined administration and continuity, especially in succession planning and compliance. Individual trustees may be simpler and cheaper to establish but can pose challenges in managing changes to membership or legal obligations. […]
Key points Super death benefits are divided into tax-free and taxable components, with the tax-free portion including after-tax contributions and the taxable portion comprising employer and deductible contributions plus earnings. Tax outcomes depend on the beneficiary’s relationship to the deceased, their age, and whether the benefit is paid as a lump sum or income stream. […]
Middle market businesses continue to pull more than their share of economic weight in the Australian economy over the last 12 months as the economic landscape continued to shift and pivot in a fluid financial system.
We understand that the recent proposal to impose an additional tax on superannuation balances greater than $3m may be causing you concern and questioning whether you should be doing anything with your super.
In February 2023, the Government announced an intention to pursue an increase in the tax rate applying to superannuation earnings on member balances over $3m.
As of mid 2020, more than 1.1 million people have chosen to take the plunge and become a SMSF member. Self-Managed Super Funds (SMSF) are often utilised by individuals as a way of taking control of their superannuation investment. The SMSF sector holds just over a quarter of Australia’s total superannuation assets. An impressive number, especially given […]
To entice more parents into the workforce, address labour market concerns and reflect modern family and work requirements, the Federal Government confirmed plans to scale up the paid parental leave scheme in the October Budget.
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