Superannuation is a good long-term savings vehicle, but it comes with restrictions on contributions and lack of access to money. Retirement savings may be supplemented by other tax-effective structures.
Author Archive | Neil Rogan
Putting money aside to pay for a child’s education requires a serious savings effort, and lack of access to superannuation rules it out as a tax-effective and flexible option. There is an alternative.
Superannuation remains the most tax-effective savings vehicle for most Australians, but the new limits on caps and amounts in pensions will encourage wealthier investors to consider alternatives.
Superannuation’s current tax benefits are far from certain given the government’s need for more revenue. Changes are likely to increase the competitiveness of investment bonds (sometimes called insurance bonds).