Tax on super withdrawals, Switching funds, Latest heatmap, 2023 SMSF calendar, Reversionary pensions explained, Nominating beneficiaries, Aged care costs
Highlights of the December 2022 edition of the SuperGuide newsletter include:
- SUPER TAX FOR THE AGES: When it comes to the tax you pay on withdrawals from your super fund, 60 is the golden age.
- CHANGE FOR THE BETTER: If you are thinking of switching super funds, follow these five steps for a seamless transition.
- 6 FUNDS EXIT AFTER LATEST HEATMAP: As more MySuper funds feel the heat, the good news is fees are falling.
- PLANNING FOR SUCCESS: Download our 2023 SMSF calendar to get on the front foot for the year ahead.
- PENSION WITH A LIFE AFTER DEATH: Reversionary pensions are a no fuss solution to passing on your super pension when you die.
- DEATH BENEFIT NOMINATIONS COMPARED: To ensure the best outcome for your super beneficiaries, we weigh up the options.
- COST OF AGED CARE: Fees are on the rise, but support is available for those who need it.
HOW SUPER WORKS
If you’re eligible and thinking about tapping into your super before you turn 60, it’s worth checking the tax implications first. In some cases, you may be better holding off for a while. Read more.
If you’re eligible and thinking about tapping into your super before you turn 60, it’s worth checking the tax implications first. In some cases, you may be better holding off for a while. Read more.
Once you turn 60 and start withdrawing your super, the tax advantages of the super system come into play. Read more.
Once you turn 60 and start withdrawing your super, the tax advantages of the super system come into play. Read more.
Your pot of retirement savings in super may actually be divided into several smaller pots, some of which can be withdrawn sooner than others. Read more.
Your pot of retirement savings in super may actually be divided into several smaller pots, some of which can be withdrawn sooner than others. Read more.
Downsizer eligibility age lowered from 1 January, TWUSUPER and Mine Super enter merger talks, Bank-owned super funds required to disclose dividends, ASIC issues updated guidance on SMSFs, Retirement costs rise with inflation, Total superannuation assets fall, HNW investor numbers ease as assets grow, 57% pass rate for November financial adviser exam. Read more.
Downsizer eligibility age lowered from 1 January, TWUSUPER and Mine Super enter merger talks, Bank-owned super funds required to disclose dividends, ASIC issues updated guidance on SMSFs, Retirement costs rise with inflation, Total superannuation assets fall, HNW investor numbers ease as assets grow, 57% pass rate for November financial adviser exam. Read more.
SUPER FUNDS
If you’re unhappy with your current super fund and ready to jump ship, following these steps will ensure the transfer process goes smoothly. Read more.
If you’re unhappy with your current super fund and ready to jump ship, following these steps will ensure the transfer process goes smoothly. Read more.
APRA’s blowtorch, in the form of its MySuper Heatmap, appears to be working, with fewer funds underperforming or exiting the industry in 2022. Read more.
APRA’s blowtorch, in the form of its MySuper Heatmap, appears to be working, with fewer funds underperforming or exiting the industry in 2022. Read more.
Super funds overcame Trump’s tariff turmoil in April to finish in positive territory, reaffirming the importance of sitting tight and ignoring the short-term market “noise”. Read more.
Super funds overcame Trump’s tariff turmoil in April to finish in positive territory, reaffirming the importance of sitting tight and ignoring the short-term market “noise”. Read more.
Indexing is an increasingly popular investment strategy and many super funds offer it as an investment option, but how does it work and what are the benefits? Read more.
Indexing is an increasingly popular investment strategy and many super funds offer it as an investment option, but how does it work and what are the benefits? Read more.
SMSFs
Forewarned is forearmed, as they say, so why not download our 2025 SMSF calendar to ensure you don’t miss any crucial dates, deadlines or opportunities in the year ahead. Read more.
Forewarned is forearmed, as they say, so why not download our 2025 SMSF calendar to ensure you don’t miss any crucial dates, deadlines or opportunities in the year ahead. Read more.
As the name suggests, the savings you accumulate in super are meant to be for one purpose only. Straying from that purpose can be costly. Read more.
As the name suggests, the savings you accumulate in super are meant to be for one purpose only. Straying from that purpose can be costly. Read more.
It’s a debate that never entirely goes away, but there’s a growing body of research that indicates you may not need as much to start your own super fund as previously thought. Read more.
It’s a debate that never entirely goes away, but there’s a growing body of research that indicates you may not need as much to start your own super fund as previously thought. Read more.
Cost may not be the main factor when deciding whether to start your own super fund, but you need to know what the costs might be in your time as… Read more.
Cost may not be the main factor when deciding whether to start your own super fund, but you need to know what the costs might be in your time as… Read more.
RETIREMENT PLANNING
If you want your partner to continue receiving your super pension when you die, a reversionary pension can make the process easy for them at what can be a difficult… Read more.
If you want your partner to continue receiving your super pension when you die, a reversionary pension can make the process easy for them at what can be a difficult… Read more.
There are two ways you can use the sale proceeds from a business to boost your super, and the CGT retirement exemption is one of them. Read more.
There are two ways you can use the sale proceeds from a business to boost your super, and the CGT retirement exemption is one of them. Read more.
There’s a lot to think about in the run-up to retirement, from where your income will come from to where you’ll live, but answering these questions should help you prepare. Read more.
There’s a lot to think about in the run-up to retirement, from where your income will come from to where you’ll live, but answering these questions should help you prepare. Read more.
While none of us knows exactly how long we will live, you can narrow the possibilities with these life expectancy projections based on Australian numbers. Read more.
While none of us knows exactly how long we will live, you can narrow the possibilities with these life expectancy projections based on Australian numbers. Read more.
IN RETIREMENT
To ensure your super ends up in the right hands when you die, these examples highlight how even the best laid plans can sometimes have unintended consequences. Read more.
To ensure your super ends up in the right hands when you die, these examples highlight how even the best laid plans can sometimes have unintended consequences. Read more.
Inheriting your spouse’s super in retirement needs careful planning to ensure you make the most of the tax-free pension phase without exceeding your limit. Read more.
Inheriting your spouse’s super in retirement needs careful planning to ensure you make the most of the tax-free pension phase without exceeding your limit. Read more.
When you retire there’s more than one way to withdraw income from your super; we explain your options. Read more.
When you retire there’s more than one way to withdraw income from your super; we explain your options. Read more.
If you or a loved one are considering moving into residential aged care, it’s important to understand your funding options and what they will cost. Read more.
If you or a loved one are considering moving into residential aged care, it’s important to understand your funding options and what they will cost. Read more.
Important: All information on SuperGuide is general in nature only and does not take into account your personal objectives, financial situation or needs. You should consider whether any information on SuperGuide is appropriate to you before acting on it. If SuperGuide refers to a financial product you should obtain the relevant product disclosure statement (PDS) or seek personal financial advice before making any investment decisions.