Super end to 2020, Real cost of SMSFs, Investing under COVID, Your home and retirement planning, Reverse mortgages, Super rules for employers.
Highlights of the December 2020 edition of the SuperGuide Premium newsletter include:
- SUPER FUNDS FINISH STRONGLY. After a wild ride of a year, super funds are poised to end 2020 ahead by a nose.
- WHAT DOES IT COST TO RUN AN SMSF? It may be less than you think, depending on your balance, according to a new study.
- THE SEARCH FOR AN INVESTMENT CURE FOR COVID. With the US election over, investors focus on stocks geared to recovery.
- HOME MAKEOVER. The Retirement Income Review casts the family home as a pillar of retirement planning.
- UNLOCKING HOME EQUITY. There’s renewed interest in reverse mortgages to top up retirement income.
- SUPER GUIDE FOR EMPLOYERS. Choice of fund, tax breaks, salary sacrifice, redundancy, retirement – we’ve got you covered.
HOW SUPER WORKS
Rise in costs for retirees, APRA releases latest super statistics, Returns not the main driver for SMSF trustees, Financing ageing in place for older Australians, Financial advice boosts wealth and health
Super funds continued their winning streak in January, with the median Growth fund up 1% over the month.
UniSuper continued its award-winning run, winning Fund of the Year for the eighth time in a little over a decade at the recent SuperRatings awards night.
Our comprehensive superannuation glossary helps you break through the super jargon to understand everything in the A-Z of superannuation. Read more
Research shows SMSFs are cost-competitive at balances of $200,000, prompting ASIC to remove its previous guidance that a minimum balance of $500,000 is desirable.
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.
Take-up of six-member funds is small but growing due to the unique opportunities they can offer.
The family home is much more than a roof over your head in retirement. It’s also a potential source of income and aged care funding.
If you’re finding it difficult to make ends meet in retirement, one solution to free up some extra cash could be to take out a reverse mortgage.
No need to be bored or overwhelmed now that you have finished work. Make the most of your retirement with expert tips from Dr Jon Glass.
IN CASE YOU MISSED IT
See also our coverage of the Retirement Income Review.
SUPER GUIDE FOR EMPLOYERS (PART 2)
Getting the details right when it comes to paying employees’ super can be tricky, so use our 7-point checklist to ensure you meet your super obligations.
Working out termination and super payments for a departing employee can be confusing, but be careful not to provide them with financial advice.
A salary sacrifice arrangement with your employee needs to meet certain rules if you want to avoid problems with the ATO later on.
Tax deductions are a valuable sweetener for employers when making super contributions for their staff, but which payments can you claim?
As if employers don’t have enough to do, they also need to notify the ATO of any reportable employer super contributions they make for their employees.
When you make SG contributions, some of your employees won’t have a super fund, so it will be up to you choose a default super fund for them.
Most employees now have the right to choose their own super fund, but employers still aren’t off the hook when it comes to offering choice of super fund.
When selecting a default super fund for your employees it’s essential it offers a MySuper product. Otherwise, you could find yourself in trouble with the ATO.
Take this 10-question quiz to test your knowledge on the superannuation responsibilities for employers.