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
Super news for December 2020
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
Read moreSuper fund performance: Monthly returns to July 2021
Super funds continued their positive run into the new financial year, with the median Growth fund (61-80% growth assets) up 1.1% in July.
Read moreSuper funds of the year awards: Best super funds for 2021
Chant West held their Super Fund Awards on May 26th 2021.
Read moreSuperannuation Glossary
Our comprehensive superannuation glossary helps you break through the super jargon to understand everything in the A-Z of superannuation. Read more
SMSFs
What does it cost to run an SMSF?
A new report concludes that managing your own superannuation fund could cost less than you think.
Read moreHow much super do you need to set up an SMSF?
SMSFs can cost a bit to set up, but the latest research shows they quickly become cost effective to run.
Read moreVideo: How do SMSF costs compare with retail and industry funds?
John Maroney, CEO of the SMSF Association provides further insight into Rice Warner’s recent report into the average costs of SMSFs, including the impact of property on costs, plus tips for SMSF trustees on reducing costs and finding suitable providers.
Read moreWhat you need to know about six member SMSFs
Legislation is soon expected to pass that will enable larger SMSFs. Are you thinking about adding members? Let us know in our poll.
Read moreUS election plays second fiddle to COVID
Despite the derision US president Donald Trump attracts, there are pluses and minuses to his departure from the White House next January for local superannuation investors.
Read moreRETIREMENT PLANNING
Your home: The foundation of retirement planning
The Great Australian Dream of home ownership is about more than a roof over your head, it has a big role to play in retirement planning.
Read moreHome ownership and super are far more entwined than you might think
When the government’s Retirement Income Review examined superannuation, the Age Pension and voluntary savings, home ownership had a surprisingly important role.
Read moreReverse mortgages: What are they and how do they work?
If your super account is not as big as you would like when you retire, one solution could be to look to your home as a way to generate some extra money – and that doesn’t necessarily mean you need to become an Airbnb host.
Read moreVideo: Home equity release for retirees
Tracey Spicer talks to Dr Sarah Sinclair from RMIT about home equity release products for retirees, such as reverse mortgages and the Pension Loans Scheme.
Read moreChange your mindset: Ways to deal with boredom in retirement
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.
Read moreIN CASE YOU MISSED IT
See also our coverage of the Retirement Income Review.
SUPER GUIDE FOR EMPLOYERS (PART 2)
Checklist for employers: 7 tips to help you master your super responsibilities
Forgetting about regularly paying your employees’ super is easy, so here’s 7 checklists to help ensure you master your super responsibilities.
Read moreHow redundancy and retirement impact your employees’ super
Working out termination and super payments for a departing employee can be confusing, but be careful not to provide them with financial advice.
Read moreHow to create effective salary sacrifice arrangements with your employees
A salary sacrifice arrangement with your employee needs to meet certain rules if you want to avoid problems with the ATO later on.
Read moreClaiming a tax deduction for your employees’ super: What are the rules?
Tax deductions are a valuable sweetener when you make super contributions for your employees, but which payments can you claim on your annual tax bill?
Read moreHow do reportable employer super contributions (RESC) work?
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.
Read moreChoosing a default fund for your 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.
Read moreWhat are the rules when offering choice of super fund to a new employee?
Most new employees have the right to choose their own super fund, but employers need to be aware of the important rules and deadlines governing this process.
Read moreMySuper funds: Everything an employer needs to know
Employers need to choose a default super fund that’s a MySuper fund, but what exactly are they and how do they work?
Read moreQuiz: Employer super responsibilities
Take this 10-question quiz to test your knowledge on the superannuation responsibilities for employers.
Read more