We have lists of independent financial advisers for each major city, state and territory (except for Darwin / NT) which you can view at the links below.
- Adelaide and SA
- Brisbane and Queensland
- Canberra and ACT
- Hobart and Tasmania
- Melbourne and Victoria
- Perth and WA
- Sydney and NSW
Women’s super – closing the gap
Wednesday 23 August 2023 at 11:00 am AEST
We know women’s super balances tend to be lower than men’s. There are many reasons – broken working patterns, the gender pay gap, and that women are more likely to work less than full-time hours.
Whether you’re starting out, planning retirement, or have retired, this webinar will help you to take control of your super and put strategies in place to reduce the risk you’re left behind. We’ll cover everything from maximising your contributions to choosing appropriate investments and dealing with separation or divorce.
Q: I’m 69 years old with $404,000 in super, and my wife is 68 with $225,000. Both of us are in accumulation phase (no further contributions) with AustralianSuper and invested as 50/50 balanced & cash. When is the best time to withdraw and re-contribute to minimise future tax?
A: Timing is not critical when using a re-contribution strategy, except that you must be sure to have completed all the contributions you plan to make before turning 75 when further super contributions are not permitted.
Future growth on your contributions will form taxable components, so it is possible that completing the contributions earlier will mean more future growth and more taxable component, but the majority of your balance would remain tax-free.
Using bring forward each of you is permitted to contribute up to $330,000 in one financial year. It is also possible to contribute $110,000 this financial year (using the standard cap) and up to $330,000 next financial year (using bring forward).
You may also wish to consider the merits of commencing pensions with your super as investment earnings on super in the retirement phase are tax-free. This enhances the investment return of pensions versus accumulation.
AustralianSuper offers a simple free telephone advice service that may be able to discuss this in more detail with you.
Read more about the bring forward arrangement, the recontribution strategy, and converting your super into retirement income.
Not sure whether to prioritise repaying the mortgage or building your super balance? Review the important factors that affect the decision here.
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.
