Benchmark your fund, Working for your SMSF, How SMSFs invest, Small business tax concessions, Age Pension increase, Estate planning.
Highlights of the March 2022 edition of the SuperGuide Premium newsletter include:
- SUPERCHAMP OR CHUMP? Recent reforms make it easier to see how your super fund measures up to the competition.
- WHEN WORKING FOR YOUR SMSF PAYS: Work you do for your SMSF is mostly for love, but in some cases you can be paid.
- SMSF INVESTMENT UPDATE: Research shows most SMSFs are not just well diversified but performing as well as big funds.
- SMALL BUSINESS RETIREMENT BOOST: The 15-year CGT exemption can help retiring businessowners supersize their nest-egg.
- MARK THE DATE! Age Pensioners will receive a small but welcome pay rise on March 20. We detail the new rates.
- MAKING A GRACEFUL EXIT: Having a well thought out estate plan can save your loved ones unnecessary grief, and tax.
SUPER NEWS
Super news for March 2022
Super changes from 1 July 2022, SMSF numbers and assets continue to rise, Super merger news, More equality in super called for, Government expects super funds to divest Russian investments, Levy to lead Quality of Advice Review, Majority of former Dixon clients to transfer to E&P.
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 FUNDS
How to benchmark your super fund
If you’re unhappy with your super fund’s performance, it’s getting easier to check how it stacks up against the best of the rest. We explain how.
Super fund fees and charges you need to know about
Super fund fees are complex and vary widely between funds and even between members of the same fund, so it’s worth learning what you’re paying for.
Is it time to change your super investment option?
Your current investment option plays a big role in determining the investment return your super receives each year. Maybe it’s time to take a closer look.
Risk profiling and your investment choice
We all want a decent return on our investments, but it’s important to understand how much risk you are prepared to tolerate along the way.
Case study: How to reduce tax on your TPD payments from super
If you suffer a total and permanent disability, making the most of any TPD insurance you have in super is crucial.
SMSFs
What work can I do for my SMSF and can I be paid?
There are strict rules governing paid work you can and can’t do for your SMSF. Getting it wrong can be costly.
Losing capacity: The issues for SMSF trustees and what you need to do
None of us likes to think about losing mental capacity, but failure to plan for the possibility can have a major impact on the running of your SMSF and its other members.
How do SMSFs invest?
SMSFs are often taken to task for relying too heavily on cash and Australian shares, but the picture is more nuanced if you scratch below the surface.
What SMSF trustees need to know about exempt current pension income (ECPI)
It’s worth getting your head around the ECPI rules, as they can provide tax benefits if your SMSF is paying a pension.
RETIREMENT PLANNING
How the 15-year small business CGT exemption can help boost your super
Small businessowners approaching retirement can take advantage of some valuable tax concessions when they sell up and then contribute the money into super.
How to get ready for retirement if you own a business
It can be easy to put off retirement planning when you are caught up in the demands of running your own business, but it pays to plan ahead if you want to make the most of all your hard work.
Who to turn to if you have a problem with your financial adviser
If you have problems with your financial adviser, it’s important to know who you can turn to for help in solving your complaint and the process you need to follow.
AGE PENSION
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.
How does your super affect the Age Pension?
The amount you and your partner have in super can have a big impact on your Age Pension entitlements. We explain how.
What are the Age Pension residency rules?
The Age Pension is highly prized, but your eligibility and the amount you receive will depend on your residency status among other things.
IN RETIREMENT
Have you got an exit plan? The importance of estate planning
Older Australians are wealthier than ever before, so careful estate planning is crucial if you want your super and other assets to be distributed in line with your wishes.
What is the DVA (Department of Veterans’ Affairs) Service Pension?
The Service Pension provided similar benefits to the Age Pension for veterans, their partners and widow(er)s, but the eligibility requirements are different, as you would expect.
Income support Q&As: How will super affect my disability support pension and other benefits
Sheena Stow-Smith from PensionHelp answers reader questions about how super affects disability support.