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Home / SuperGuide newsletters / December 2020 newsletter

December 2020 newsletter

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

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Super fund performance: Monthly returns to January 2021

Super funds continued their positive run in January despite challenging conditions on global markets.

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Super funds of the year awards: Best super funds for 2020/21

Money Magazine announced its superannuation Best of the Best Awards 2021 on December 3, 2020 based on research by Rainmaker.

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Superannuation 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.

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How 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.

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Video: Reactions to the Rice Warner report on SMSF costs

Tracey Spicer talks to John Maroney, CEO of the SMSF Association, and Meg Heffron from Heffron about Rice Warner’s 2020 report on SMSF costs.

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What 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.

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US 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.

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RETIREMENT 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.

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Home 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.

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Reverse 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 more

Video: 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 more

Change 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 more

IN 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 a checklist to help ensure you master your super responsibilities.

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How redundancy and retirement impact your employees’ super

Determining termination and super payments when employee’s leave can be confusing, learn how you can successfully navigate this process.

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How to create an effective salary sacrifice arrangement with your employees

Salary sacrifice arrangements need to meet the rules if you want them to be deemed effective, which is essential if to avoid problems with the ATO.

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Claiming 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?

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How do reportable employer super contributions (RESC) work?

A year-end task for employers is to notify the ATO of any reportable employer super contributions (RESC) for employees. Find out what RESC are and what you need to do.

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Choosing a default fund for your employees

Choosing a default super fund for your employees is an important decision. Know the rules and your obligations so you can choose the right super fund.

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What 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.

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MySuper 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 more

Quiz: Employer super responsibilities

Take this 10-question quiz to test your knowledge on the superannuation responsibilities for employers.

Read more

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How super works
Super for beginners
Super rules
Employers guide to super
Super contributions
Super and tax
Accessing super
Super news
Women and super
Super tips and strategies
How-to guides
Super quizzes
Superannuation Q&As
Superannuation glossary
Super funds
Best performing super funds
Super fund rankings
Best performing pension funds
Pension fund rankings
Super fund average returns
Super investing strategies
Comparing super funds
Choosing a super fund
Choosing an investment option
Super fund fees
Insurance and super
Super fund profiles
SMSFs
SMSFs for beginners
SMSF administration
SMSF checklists
SMSF compliance
SMSF investing
SMSF pensions
SMSF strategies
SMSF Q&As
Plan your retirement
Retirement planning for beginners
When should I retire?
How long will I live?
How much super do I need?
Will I get the Age Pension?
How much will I spend in retirement?
Financial advice
Retiring overseas
Preparing for retirement
Retirement planning strategies
Retirement calculators and reckoners
In retirement
Income in retirement
Super lump sums
Super pensions
Age Pension
Working in retirement
Life in retirement
Senior concessions and services
Aged care
Estate planning
Super death benefits
Compare super funds

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Important: Disclaimer

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.

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About SuperGuide

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Superguide Pty Ltd ATF Superguide Unit Trust as a Corporate Authorised Representative (CAR) is a Corporate Authorised Representative of Independent Financial Advisers Australia, AFSL 464629

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