July 2020 newsletter

The cover is much harder to claim if you’re unemployed, casual or part-time, because of the ‘activities of daily living’ test.

Tracey Spicer talks to Natasha Janssens about some of the challenges that women face in building their super, and what to think about if you’re considering taking out some of your super due to COVID-19.

Ross Clare from ASFA talks to Tracey Spicer about how the pandemic has impacted superannuation and the broader economy.

Discover the investment performance for 12 different asset classes over various timeframes. For all asset classes there is data for 1, 3, 5, 7 and 10 financial years, and for most asset classes there is also data over 15 financial years.

In this article we report median super fund performance for 1, 3, 5, 7, 10 and 15 years, up to 30 June 2020 and across five different investment options.

Super funds rose for the third straight month in June, making a 6.5% comeback from the COVID cliff the previous quarter. By the end of the financial year, most funds ended up near where they started with some funds managing a modest positive return. All in all, that’s a good outcome from one of the most turbulent financial years in the past century.

Making super contributions once you reach age 67 is more difficult as you need to meet the requirements of a work test. Here’s a simple guide to understanding the rules and how they affect you.

Once you get to your late 60s, the rules change when it comes to making personal contributions into your super account. Here’s a simple guide to who is eligible and who’s not.

Once you’re in retirement, making super contributions gets a lot trickier. But it’s not impossible if you understand the rules and are willing to use different types of contributions.

The bring-forward rule represents an important opportunity to put more money into your super account in a particular year if you receive an inheritance or are getting close to retirement. Here’s a simple guide to how it works.

Re-contribution strategies are all about how to withdraw money from your super account and re-contributing it to save tax. Here’s a simple explanation and 10 points to consider before taking the plunge.

If you feel like you’ve missed the boat when it comes to building your retirement savings, it could be time to use an often-overlooked contribution opportunity.

Topping up your spouse’s super account can be an easy way to build the nest egg you have to share during your retirement. Here are two easy ways to boost your spouse’s super balance.

Exceeding your annual super contributions cap can leave you with a big tax bill. So here’s a simple explainer of the process you’re likely to face.

Although you can retire and access your super if you’re under age 60, the tax man is going to want his cut, so ensure you understand the rules before acting.

Knowing how much tax you’ll pay when you withdraw your super savings is important and the rules change once you reach age 60.

Many trustees have never had to run a self-managed super fund through a recession. So to survive this period, experts recommend avoiding selling when markets are at their nadir, focusing on fundamentals and looking for opportunities to acquire well-priced quality businesses.

Transfer balance account reports notify the ATO of any changes to trustees’ transfer balance accounts and, depending on the circumstances of the trustee, may need to be lodged with the ATO 28 days after the end of a quarter. That means another TBAR lodgement date is fast approaching – 28 July 2020 – which makes it a good time to review when, how and why SMSF members may need to lodge these reports.

Tracey Spicer talks to clinical psychologist Deanna Pitchford about ways that retirees can look after their brain health.

David Williams from My Longevity talks about the concept of Personal Capital and why it’s important retirees don’t overlook it.