Super performance for 2019-20, Year in review, Super contributions strategies, Super and tax, Managing your SMSF through a recession, Wellbeing and brain health in retirement
Highlights of the July 2020 edition of the SuperGuide Premium newsletter include:
- WHAT JUST HAPPENED? After a year punctuated by the worst pandemic in a century and the worst global recession in nearly as long, super fund returns finished the year… where they began. We chart super’s performance over the past month, year and over the long-term.
- PHEW! YOU MADE IT: It’s been a challenging year for SMSF trustees. We survey the year that was and how to steer your fund through a recession.
- BAND-AID SOLUTION FOR TPD INSURANCE IN SUPER: A temporary relaxation of tough eligibility tests for ill or injured people claiming on their TPD insurance in super is not good enough.
- DOES YOUR SUPER NEED A SHOT IN THE ARM? If your super looks a bit anaemic, making extra contributions is a smart move. Whether you are still working or recently retired, we outline your options.
- UNDERSTANDING SUPER CAN BE TAXING: If you find the taxation of super confusing, you’re not alone. We feel your pain, so we’ve put together a guide to help you make the most of the tax concessions on offer without breaking the rules.
- CHALLENGE YOUR BRAIN, FEEL THE GAIN: Retirement may be a chance to ease back but staying engaged and challenged is vitally important for brain health as we age. In this video interview, we explain how.
SUPER NEWS
Super news for July 2020
ATO clamping down on false claims, AFCA’s 80,000 complaints, MySuper Heatmap delivers for members, Robo-advice lagging in Australia, Australians pay closer attention to super.
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SUPER FUND PERFORMANCE FOR 2019-20
Best performing super funds: Growth category (61–80%)
The list of top 10 Growth funds in 2023 rounded up some of the usual suspects with a few newcomers, but over 10 years the top funds remain remarkably consistent.
Super fund performance over 31 calendar years (to December 2023)
Super funds surmounted a wall of worries in 2023 to post a return of almost 10%, thanks to buoyant global share markets.
Super fund performance: Monthly returns to March 2024
Super funds continued their positive run in March, with the median Growth fund up 1.9% over the month.
SUPER CONTRIBUTION STRATEGIES
What super contributions are best for me?
Growing your retirement savings needs the right mix of super contributions. Here’s some guidelines and case studies to help you think about what’s right for you.
What are the current work test rules for super contributions?
The rules for making super contributions after age 67 have been relaxed substantially, but you must still meet a work test for one type of contribution.
Making super contributions after 65: What are the rules?
Although the rules on making super contributions in your 60s and 70s have been relaxed, it can still be a bit confusing to know who is eligible and who’s not.
How to make super contributions after you’ve retired
Once you’re retired, making super contributions gets trickier. But it’s not impossible, so it’s worth learning which contributions remain available to you.
A super guide to the bring-forward rule
Using the bring-forward rule is a great way to put a larger contribution into your super account in a single year. Here’s what you need to know about the rules.
Super recontribution strategy: How it works
Withdrawing and recontributing money into your super can be a valuable way to improve your estate plan and equalise the super position of you and your spouse.
How carry-forward (catch-up) super contributions work
If you haven’t used all your concessional contributions cap in recent years you can use them to play catch-up and get a handy tax concession to sweeten the deal. We explain how.
How to boost your spouse’s balance and make the most of super caps
Couples who plan together succeed together. Learn how paying attention to your spouse’s super could maximise your opportunities.
What to do if you exceed your super contributions caps
Going over your annual limits for super contributions can cause problems and cost you money, so it’s important to know what to do if you have.
SUPER AND TAX
How superannuation is taxed: Super for beginners guide
Super is a very tax-effective vehicle for your retirement savings, but no-one said the taxation of super was simple. Here’s a quick overview of what you pay and when.
Your tax guide to accessing your super under age 60
If you’re eligible and thinking about tapping into your super before you turn 60, it’s worth checking the tax implications first. In some cases, you may be better holding off for a while.
Your tax guide to accessing your super over age 60
Once you turn 60 and start withdrawing your super, the tax advantages of the super system come into play.
SMSFs
2019-20 year in review
It was a year when it felt like an achievement just to make it to the other side.
Managing your SMSF through a recession
While fears of a looming recession may be receding, it’s still prudent for SMSF trustees to prepare for a period of slower economic growth.
TBAR: Transfer balance account reporting for SMSFs
Two important changes to the transfer balance account rules come into effect from 1 July 2023, including updated SMSF reporting obligations and further indexation to the general transfer balance cap.
IN RETIREMENT
Video: Wellbeing in retirement
Tracey Spicer talks to world-renowned positive psychology and wellbeing expert Sue Langley about ways to think about wellbeing in retirement.
Video: What is Personal Capital?
David Williams from My Longevity talks about the concept of Personal Capital and why it’s important retirees don’t overlook it.