Many investors in large funds plan to open their own SMSFs, while trustees of SMSFs are considering the large funds. It’s highly contestable while asset allocations are also changing.
Tag Archives | superannuation
Do people who have worked hard all their lives really have an ‘entitlement’ to an age pension? Somewhere along the line, has any government made a solemn promise to Australian retirees?
Understanding the new work test exemption rules may enable individuals to maximise their contributions to super and thus their tax effective retirement savings.
Super is reducing reliance on the age pension for the majority of people entering retirement. Most newly-retired Australians are not accessing the age pension at all, and only 25% of 66-year-olds are drawing a full age pension.
Watch the exact timing of super contributions to create a tax deduction, especially this year, and anyone with a pension that reverts to another person on death has particular timing issues to address.
Three weeks to go before the EOFY is still enough time to comply with the rules and make the most of superannuation and income tax opportunities. Here’s a quick checklist.
The extra 15% Division 293 tax slips easily under the radar, and most people do not realise how it is calculated and how the proposed Labor policy might now capture them.
Rarely do we go into an election with such contrasting policies from the major parties, and no more so than in superannuation. The nation’s decision on 18 May will have a big impact on retirement savings.
In the 2019/2020 Federal Budget, the Government made few changes to superannuation rules to assist retirement planning.
From 1 July 2020, Australians aged 65 and 66 will be able to make voluntary superannuation contributions, both concessional and non-concessional, without meeting the Work Test.
Sections of the superannuation industry presented a wishlist to Government for the 2019 Budget. How many changes made it into Josh Frydenberg’s document? None of the significant ones.
Amazingly, SMSF pensioners invested in Australian shares will be much worse off under the Labor franking policy than in the ‘bad old days’ when their pensions were taxed.
Many commentators are assuming all industry and retail funds can utilise their franking credit refunds, but a case-by-case check is required. Plus hard words from a cranky reader.
The Labor franking credit proposal creates a group of people who count franking credits as taxable income, and another group that doesn’t. A basic principle of tax should be horizontal equity between investment structures.
It sounds arcane but it could be costly. For the first time, about 44,000 individuals will receive their first Division 293 notice early in 2019, and it will surprise many.
Where once it was difficult to differentiate between the superannuation policies of the two major political parties, the 2019 Federal Election will deliver some stark choices for voters.