EOFY tips, Federal Budget review, Super fund rankings, Member services explained, SMSFs prepare for SuperStream, Finding a suitable adviser
Highlights of the May 2021 edition of the SuperGuide Premium newsletter include:
- COUNTDOWN TO JUNE 30: It’s been a turbulent year and that extends to tax and super, so take extra care preparing for the end of the financial year.
- FEDERAL BUDGET CASH SPLASH: Budget highlights include tax cuts, super barriers removed for low-income workers and the over 60s, and aged care reforms.
- IS YOUR FUND A CHAMPION OR A NAG? If you’ve ever wondered how your super fund ranks in the performance stakes, the latest results are in.
- SPOTLIGHT ON MEMBER SERVICES: When it comes to choosing a super fund, it’s not all about headline returns. Member services can also add value.
- TIME TO DIVE INTO THE SUPERSTREAM: The deadline is fast approaching for SMSFs to SuperStreamline their data and payment standards
- HOW TO FIND A GREAT FINANCIAL ADVISER: A year of shutdowns and volatile markets has taught many of us the value of good advice. We help you find it.
HOW SUPER WORKS
Super news for May 2021
UniSuper set to open fund, AustralianSuper and Club Plus Super in merger talks, COVID-19 early access scheme primarily used to pay bills, Your Future Your Super changes, Government to regulate proxy advisers, New aged care help service, FSC focus on affordable and accessible advice
Super housekeeping tips for EOFY
The end of the financial year isn’t far away, so it’s time to get your super contributions and paperwork in order with these 10 top tips.
IN CASE YOU MISSED IT: 2021 FEDERAL BUDGET ANNOUNCEMENTS
2021 Federal Budget overview: Super, tax and aged care announcements
Removing SG’s $450 per month threshold and the work test, Enhancing the FHSSS, Downsizing and the Pension Loans Scheme.
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SUPER FUNDS
Member services: What separates the best super funds from the rest?
Member services have the potential to rev up your super returns, so check what’s on offer.
Super fund performance: Monthly returns to February 2024
Super funds continued their winning streak in February on positive economic news, despite concerns that markets appear fully valued.
Super and pension fund performance: Where does your fund rank?
Now updated to 30 September 2023. Have you ever looked at your super fund’s investment returns and wondered how your fund compares with similar funds? Is it a consistently high performer or an inveterate underachiever?
Super fund rankings
- All Growth category (96–100%)
- High Growth category (81–95%)
- Growth category (61–80%)
- Balanced category (41–60%)
- Conservative category (21–40%)
Pension fund rankings
- All Growth category (96–100%)
- High Growth category (81–95%)
- Growth category (61–80%)
- Balanced category (41–60%)
- Conservative category (21–40%)
SMSFs
Is your SMSF ready for SuperStream?
As the October deadline looms, SMSFs need to ensure they are ready and able to take rollovers via SuperStream.
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.
SMSFs: What are the lump sum withdrawal rules?
Withdrawing a big pot of money from your super can be tempting, but strict rules apply. And then there’s tax.
Estate planning and SMSFs: What it is and why it matters
Along with a valid Will, your SMSF is an essential part of your estate plan. From your personal wishes to tax and legal matters, there’s a lot to consider.
RETIREMENT PLANNING
How to find a super financial adviser
Good advice can make an enormous difference to your financial health and wellbeing, which is why it’s worth taking these steps to find the right financial adviser for your needs.
What are annuities, and how can they help in retirement?
For some people, annuities can be an easy way to convert some of your super into a guaranteed income stream to cover your basic expenses in retirement.