Transfer Balance Cap set to rise, Industry funds maintain their lead, COVID relief for SMSFs, Write your own retirement plan, Age Pension increase, New Age Pension eBook.
Highlights of the March 2021 edition of the SuperGuide Premium newsletter include:
- LIFTING THE LID ON THE TRANSFER BALANCE CAP. From 1 July you may be able to boost the amount in your super pension account. We show you how.
- INDUSTRY VS RETAIL SUPER FUNDS. After a challenging year, industry funds still lead on assets, satisfaction and performance.
- WRITE YOUR OWN RETIREMENT ROAD MAP. Retirement planning can seem complex, but it’s not rocket science if you follow these directions.
- COVID RELIEF FOR SMSF BORROWINGS. The tax office has provided guidance for SMSFs with limited recourse borrowings who took advantage of COVID relief.
- IS THAT ALL THERE IS? Age Pension rates and assets and income test limits will all rise in March, but not by much.
- NEW AGE PENSION EBOOK. If you are about to retire and think you may be eligible for the Age Pension, we’ve put everything you need to know in one easy-to-read guide.
HOW SUPER WORKS
Super news for March 2021
Super caps to rise, ASIC commences civil proceedings against REST and Statewide, APRA wants super funds to lift their game on insurance, QSuper and Sunsuper merger update, Toyota Super to merge into Equipsuper, Aware Super and VISSF discuss merger, Costs rise for retirees, Three strikes and you’re out for SMSF annual returns, AMP Capital offloads some investment management capabilities
Transfer balance cap (TBC) for super pensions: How it works
The TBC limits the amount you can transfer into a super pension. Find out how it works and how to take advantage of its pending increase.
How to take advantage of the increased Transfer Balance Cap (including calculator)
An increased Transfer Balance Cap creates opportunities to transfer more into the tax-free retirement phase and contribute more to super but beware the fine print!
Managing capital gains in your SMSF portfolio
Capital gains are an investment goal, but they leave you with a tax liability, so it’s worth checking some of the strategies for cutting your CGT bill.
SUPER FUNDS
Super fund fees: Do lower fees mean better net returns?
Fees are important, but they are not the only thing driving superannuation’s investment returns.
What are MySuper products, and which super funds have MySuper products?
Default MySuper funds have been undergoing a makeover in recent years, with performance under the microscope and fees falling.
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.
SMSFs
The lowdown on COVID-19 relief for SMSF borrowings
Answers to common questions from SMSF trustees about repayment relief for their LRBA loans.
SMSF investments: Using ETFs for diversification and more
They are easy to use, cheap and growing in number. So how are SMSFs using ETFs and what’s stopping more of them from following the trend?
Running multiple SMSFs: What are the pros and cons?
Deciding to run two or more SMSFs has both pros and cons, so you need to weigh them carefully and ensure it’s the right strategy for your personal situation.
RETIREMENT PLANNING
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8 warning signs of a bad financial adviser
The vast majority of financial advisers want the best for their clients, but sadly, some abuse their position for personal gain. Here’s what to watch out for.
What is the cost of living in retirement in Australia?
If retirement beckons, it’s time to work out how much income you think you will need to fund your desired retirement lifestyle. Here’s what you need to consider.
Lifetime estimator calculator
This calculator helps you estimate how long you might live, based on the latest Life Tables from the Australian Bureau of Statistics (ABS) and the Australian Government Actuary.
AGE PENSION INCREASES
Age Pension rates (March 2024 to September 2024)
Age Pension rates increase on 20 March 2024. 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.
Age Pension calculator (March 2024 update)
Our Age Pension calculator gives you an estimate of your potential Age Pension entitlements for the period 20 September 2023 to 19 March 2024.
Age Pension income test rules (from March 2024)
A common question for those nearing or in retirement is “How much can a pensioner earn before it affects the pension?”.
Age Pension assets test rules (from March 2024)
This article details the rules and limits of the Age Pension assets test (how much your savings and other assets are worth), which is one half of the means test (along with the income test) that determines how much Age Pension you could be eligible for.
NEW: Age Pension for beginners eBook
We produced this eBook as a comprehensive starting point for readers that need to understand the essentials about how the Age Pension works. We hope you find it useful.
This is the first eBook we have put together for SuperGuide Premium subscribers. We’d really like to know what you think and if you would like us to create more. Click here to give us your feedback.