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Family trusts and SMSFs carry their own benefits and disadvantages in providing a way to transfer and manage your family’s wealth. By weighing up the points of difference, you can choose the most appropriate option for you.
When it comes to how the super death benefit is paid out, there are specific tax implications involved which affect the amount a nominated beneficiary will receive.
In a situation where super is paid out after an individual has passed, it is generally split up into two components; taxable and tax-free. The tax-free portion
As the end of financial year is fast approaching, it pays to start thinking about how you can grow your superannuation while seeking some tax breaks.
The spouse super tax offset allows higher earning taxpayers who contribute super for their non-working or low income earning partners... more
Right now, the entire world is vulnerable to cyber crime. It doesn't matter how small your business is, how much you have in your savings account or where you are located, hackers are targeting everyone who doesn't have their personal information on lock.
Cyber criminals are attacking Australia's superannuation funds - a small... more
The Australian superannuation system is a fantastic option for everyone, allowing you to set up for a comfortable retirement. In fact, it's one of the best retirement systems in the world. The 2016 Mercer Melbourne Global Pension Index has Australia ranking third out of 27 countries!
There are several ways Australians... more
The decision between living debt free and having sufficient savings for retirement is often a difficult one.
There are benefits to allocating money to both your super and your mortgage. Take your personal circumstances into consideration with the following pros and cons of each:
To retire comfortably, you should be doing everything you can while still in the workforce to make sure your superannuation is as fruitful as possible.
Consider the following:
Consolidate super into one account
Super account fees can eat away at your super balance, especially if you have numerous
Travelling overseas for an extended period of time is an exciting adventure. What isn’t so exciting is the prospect of breaking compliance laws in relation to your SMSF while enjoying your trip.
There are specific conditions that must be met to deem the self-managed super fund ATO compliant. They are as follows: