When you’re in the thick of raising a family – balancing work, school runs, and sleepless nights – estate planning probably isn’t top of your to-do list. But here’s the thing: if you have kids, a mortgage, or even just a bit of superannuation, having a solid estate plan in place is one of the…
Ever noticed your super balance going up and down, even when you haven’t made any changes? It’s not just about fees, contributions, or insurance premiums – it’s also about how your super fund calculates investment earnings. Super funds use one of two methods to allocate investment earnings: unit pricing or crediting rates. While industry super…
Division 293 tax is an additional tax on concessional superannuation contributions for high-income earners in Australia. It is applied at a rate of 15% on certain super contributions when an individual’s combined income and concessional contributions exceed $250,000 in a financial year. This tax effectively reduces the tax concession available to higher-income individuals, ensuring a…
Superannuation is one of the most significant investments many Australians will make. The stakes are even higher for those managing their retirement savings through a self-managed super fund (SMSF). While it can be tempting to adopt a “set and forget” approach, seeking ongoing professional advice is essential for maximising the potential of your super and…
The halfway point of the financial year is an excellent time to take stock of your superannuation. With six months of income and contributions already in place, you have enough data to assess your progress and make any necessary adjustments before the end of the financial year. Here’s why a mid-year super check is important…
The festive season is a time of joy and giving, but it can also bring financial stress. With the added pressure of bills and buying presents, some SMSF (Self-Managed Super Fund) members may consider accessing their superannuation early to ease the strain. While this might seem like a quick fix, dipping into your SMSF outside…
Insurance within superannuation is a valuable option that many Australians use to help protect their financial security. While there are clear benefits, it’s important to consider both the pros and cons to decide whether holding insurance within superannuation is the right choice for you. What Is Insurance within Superannuation? Insurance within superannuation is typically offered…
Over the past five years, more than 150,000 Australians have dipped into their retirement savings early to cover medical expenses, raising concerns about the financial impact this may have later on. While the Australian Tax Office’s (ATO) compassionate release of superannuation scheme offers much-needed financial relief for those dealing with severe medical conditions, it also…
Superannuation is one of the best ways to save for retirement, but it’s not without its risks—especially if you’re between 40 and 60 and starting to think about winding down your working life. From market volatility to outliving your savings, potential bumps can affect your retirement plans. Understanding these risks now can help you make…
If you’re a contractor, freelancer, or self-employed, you’re probably already juggling multiple responsibilities, from managing clients to keeping track of your income. One area that often gets overlooked is superannuation, but it’s crucial to think about your future. Even though you may not have an employer making regular super contributions on your behalf, you can…