There is a wave of activity at present dealing with how Australian retirees manage their savings IN retirement, including the advice they should be receiving. Some, like the Royal Commission, are grabbing headlines, while others such as FASEA's proposed requirements for advisers, and the development...
Minimising Tax - using timing As the financial year moves to an end, whatever expenditure is incurred in June is considered part of that financial year and is reflected on the tax return – in this case the 2018 tax return. Where the expenditure is tax deductible,...
There is nothing quite like a deadline to turn good intentions into strategic actions. So it is important not to let the financial year pass without giving some thought to a number of tax-effective super strategies, while, at the same time, taking the opportunity to...
Few SMSF trustees are taking advantage of the ability to make personal deductible contributions to their super fund because they remain unaware of the change in legislation allowing them to do so. “When we speak to people they’re still very surprised that they can do that,...
Judy and Grantley Selth believe their testamentary trust strategy will make it more transparent and equitable for all beneficiaries. Wills are being contested in courts, typically by family members fighting over how parents' estates should be divided between siblings. Disputes over potentially trillions of dollars worth of savings, investments and...
Australians put off thinking about superannuation because they are more focused on near-term goals, but breaking that barrier of disengagement is crucial to ensure a comfortable retirement, says Melinda Howes, general manager of superannuation at BT Financial Group. “Because we’ve got a compulsory system, people just...
For many people, their superannuation is their biggest asset when they retire – and often when they die as well. Despite this, there are still a number of misunderstandings about what steps need to be taken to manage and direct super, as part of estate planning,...
Personal deductible contribution deadline looming The removal of the 10% 'maximum earnings' test as an employee means that 2017/18 is the first year that more clients than ever may be eligible to make personal deductible contributions. Obviously, one of the first things that a client must do...
Get the new financial year underway with a positive plan. Steven Korner a financial planner with Omniwealth details how you can get off to a good start for the 2018-19 financial year. Eliminate personal debt Australia has some of the highest personal debt levels in the world and...
The Australian Securities and Investments Commission (ASIC) have completed their review into the quality of advice in setting up and running a self-managed superannuation fund (SMSF). The reportExternal Link identifies a number of practical tips that advice providers can use to improve the quality of...