Based on the bagging that DIY super trustees have received in the media recently from government and certain sectors of the superannuation industry, you may be thinking that taking control of your retirement savings via a self-managed super fund (SMSF) is akin to a criminal act. Don’t be fooled by the bluster and bullying of certain players in the super industry worried about the billions
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Q: I am about to make a capital gain of about $200,000. My marginal tax rate is 30% and I am an employee and 43 years old. I want to contribute the equivalent
The Federal Government is giving away money to anyone who makes a non-concessional (after-tax) contribution to their super fund, and who earns less than
In recent years, when presenting to investment forums on DIY super, I often use the term
The ATO releases statistics on SMSFs every few months, and the latest statistics (representing SMSF activity up to the end of March 2009) highlight some
Q: I understand the three-year bring-forward rule that allows you to contribute up to $450,000 in after-tax contributions. My question is: What date does
In one of the more sneaky Budget tricks conjured by the Government, the non-concessional contributions cap has been cut by $15,000 for the 2009/2010
The investment managers and super funds have not yet signed off on the investment accounts for the 2008/2009 financial year (1 July 2008 to 30 June 2009),
In a surprise Budget announcement, the Federal Government has flagged that the Age Pension age is set to increase to 67 years of age from 2023. Currently,
Non-concessional contributions are more popularly known as after-tax contributions. You may even hear them called ‘undeducted’ contributions. Such
Anyone under the age of 65 can make super contributions without having to satisfy a work test. If you’re aged 65 or over, however, you’re subject to
In the May 2009 edition of SuperGuide, I promised you a list of what I believed to be the top ten problems with Australia’s super system. My motivation
Q: I wondered if a SMSF pension that was started at the relief rate of 2%, would it then have to increase to the 4% once the relief period expired, or
Q: I turned 60 this year and I have been sick since late last year, so I can’t get back to work and need to retire. I am wondering if you can
Many Australians are facing hard times but mortgage repayments and everyday living expenses continue even when you lose your job, or suffer illness or
Superannuation contributions can be divided into two types — concessional (before-tax) and non-concessional (after-tax). Each type of super contribution is subject to a contributions cap (see table below).
Q: Can you please advise the 2009/2010 cap on earnings for the maximum contributions base? A: The maximum superannuation contribution base for the 2009/10 year is $40,170 per quarter or $160,680 per
As a budding novelist, I love to read a good work of fiction, and on many levels, that’s an appropriate way to describe this latest Federal Budget – a fiction, or more precisely, an artifice. By treating
Contrary to pre-Budget announcements, the Government is not proceeding with the measure to include gross tax-free superannuation pension income in the adjusted taxable income test for the Commonwealth
Increase of $32.49 per week for single Age Pensioners, and $10.14 for couples (see article ‘
In what must be a Pinocchio moment (of which there are many – see this month’s
In the Federal Budget, the Government announced the extension of the drawdown relief provided for account-based pensions. What this means for individuals receiving superannuation income streams, is
The highlight of the 2009/2010 Federal Budget is a $32 weekly increase in the single Age Pension. From 20 September 2009, single pensioners can expect to see an extra $64.98 in their fortnightly Age
* Concessional contribution caps halved from July 2009 * Government co-contribution cut by a third from July 2009 Halving of concessional contributions cap The Government just couldn’t resist tinkering
Superannuation Concessional contribution cap cut to $25,000 from July 2009 Government co-contribution cut to $1000 from July 2009 ‘Lost’ account balances of less than $200 to be transferred
Q: I have worked in super for quite a few years, and have just stumbled on your website. It’s very informative, and will hopefully help consumers navigate our quagmire of a super system. Just one
I first wrote about the unfairness of Australia’s super system for most women in the Melbourne Age in July 2007. Incredibly, nothing has changed during the past two years. In the hope that those reviewing
The Superannuation Minister Nick Sherry has announced another review of the superannuation sector. He believes that after nearly 20 years of compulsory super that it’s time to re-examine the system. Senator
Unless you work in the superannuation industry, how the world of super works can be bamboozling (sometimes it can be confusing even when you know the industry well). This article, on the different types
I don’t normally suggest ‘easy money’ strategies. I’m often sceptical about the motives of the individuals suggesting such strategies, which means I don’t like being boxed in that same category.
And guess what! Unbelievably, this site, www.superguide.com.au, is the only INDEPENDENT website for consumers on superannuation in Australia.
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