Note: This article includes the remuneration data and related party transactions for major industry super funds (Cbus, HESTA, AustralianSuper and CareSuper). We update this article periodically when additional super funds disclose the salary packages of executives or trustee directors. If you have … [Read more...]
Merely thinking about your super means you're straddling the first major hurdle that most Australians face when planning (or not) for their retirement and looking into your future. As an employee, you have your employer helping you with your retirement plans by making compulsory super … [Read more...]
1. Is there a minimum age for a DIY super fund member? Q: My son is 16 years and just started work full-time working in administration. Can he become a trustee and member of my DIY fund? An individual under the age of 18 can be a member of a SMSF, but he can’t be a trustee. Trustees of super … [Read more...]
Q: I am a small business owner in the incubus stage. I have just submitted my taxes for the first time in 3 years as the struggle to keep a small business alive has left me working to live. I am looking at a substantial tax payment and I am wondering if I can cash my super to pay off this … [Read more...]
Q: I am in partnership in a franchise business that needs some financial input at this time. We have been struggling since the beginning of the recent financial crisis, and have fallen behind on rent and we are just managing to keep up with service providers. I would like to withdraw my … [Read more...]
Q: Six months ago, my wife and I started a self-managed super fund. We pay a flat fee to have it administered on our behalf. All the assets in the fund at this stage are my rollovers. I am also in the PSS (a public sector fund) and my wife has a small amount in an industry fund, where she … [Read more...]
Q: I am looking at setting up a DIY super fund whereby I take over from a wrap provider, saving about $5000 in fees. Is there a ready-made program I can buy now, or how would you plan for this? Any books or articles that would assist? Choosing to run your own super fund is not just a cost … [Read more...]
