Super fees and returns, SMSFs and TBAR, Age Pension changes, Bring-forward rules, Reverse mortgages
Highlights of the June 2018 edition of the SuperGuide Premium newsletter include:
- SUPER FEES AND RETURNS CALCULATOR: The Productivity Commission have again highlighted the importance of fees in the returns equation, particularly when they are compounded for the long timeframe that superannuation is applied over. To help illustrate this we’ve designed a calculator that shows you the impact small percentages can make over time.
- SMSFs and TBAR: Another month, another acronym. The Transfer Balance Account Report is an important new administration requirement for SMSFs. Meg Heffron explains more about the TBAR and when it operates.
- AGE PENSION CHANGES: New assets and income thresholds apply from 1 July, which means more Australians may now be eligible for the Age Pension.
- BRING-FORWARD RULES: We’re in the middle of some complex transitional rules, so make sure you are fully up to speed if you have triggered the bring-forward rule in the last 2 financial years.
- REVERSE MORTGAGES: These may sound tempting when you are asset-rich but cash-poor, but reverse mortgages are surprisingly unpopular in Australia. Janine Mace explains how they work, what are the pros and cons, and the rules and impacts you need to consider.
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Industry consolidation is creating fewer, larger super funds as smaller or underperforming funds are urged to shape up or ship out.
The size of the self-managed super fund sector continues to grow in terms of members and assets, at the expense of all but industry super funds.
You might think a good return is all that matters when it comes to your super fund, but fees are critical. Read on to find how even small differences in fees can have a large impact on your final super balance.
Age Pension rates increased on 20 September 2023. This article also explains how the Age Pension works, and includes the latest Age Pension rates for residents, non-residents, and the transitional Age Pension.
It can be confusing to understand all the different types of super contributions. But it’s worth learning the main types and what each one offers you.
Making a personal contribution into your super can be a great way to boost your retirement nest egg and enjoy the tax-effective benefits of the super system.
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.
The Home Equity Access Scheme can be a great way to boost your retirement income by taking a loan from the government against the equity in your home.
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.