Labor’s franking credits policy, How much super will you need?, SMSFs and insurance, Death benefits
Welcome to the October 2018 edition of the SuperGuide Premium newsletter. Highlights include:
- LABOR’S FRANKING CREDITS POLICY: Jim Bonham illustrates how the ALP’s policy will significantly reduce the income for not just SMSFs, but also low and middle income direct shareholders.
- HOW MUCH SUPER WILL YOU NEED? In a series of articles we examine the fundamental questions – when should you retire, how much will you be spending in retirement, and (therefore) how much super will you need? We also crunch the numbers on whether $1m is enough to retire on, and how much super you need to retire on $100,000 per year.
- SMSFS AND INSURANCE: All SMSFs need to consider insurance as part of their investment strategy. We present the rules, the benefits and some frequently asked questions.
- LIFE INSURANCE: Thanks to SuperRatings we can announce the 20 funds with the lowest fees for life / TPD insurance, and the 20 funds with the lowest fees for Income Protection insurance.
- DEATH BENEFITS: Death and taxes are a fact of life, and tax cannot be avoided even by dying. We cover the super death benefit rules in detail and present tax strategies you may wish to consider.
In this article, I dig into this subject in more detail, particularly for those who hold their shares directly in their own names, to show what the ALP proposal really means and how it would operate.Read more
Life expectancy is a complex topic, so we’ve put together a straightforward guide to help explain the key concepts – enabling you to plan your retirement with a bit more confidence.Read more
Planning for your retirement and working out how much you’ll need to enjoy a good standard of living after your working years can be a complex task, and one factor that needs to be considered is inflation.Read more
When you die, the tax man can be pretty quick to put his hand out to take his cut, and this also applies to the balance of your super account.Read more
WILL YOUR MONEY LAST AS LONG AS YOU? (UPDATED FIGURES)
We all have expectations about what our retirement will look like in terms of lifestyle, but how does retirement actually pan out for those living in retirement?Read more
The amount of super YOU need to retire will depend on your personal circumstances, financial resources both inside and outside super and your lifestyle. So before you set an arbitrary super target, block out the fearmongers and think about the big picture.Read more
The decision about when to retire is rarely made overnight. It’s a major life event and deserves careful thought and planning. Finances play a big part, but so do your health, your partner’s circumstances and whether you still enjoy your work or are itching to leave.Read more
The widely-reported ASFA Retirement standard suggests couples can enjoy a ‘comfortable lifestyle’ on just over $60,000 a year while singles can do the same on around $43,000. If that sounds less than comfortable to you, perhaps an income of $100,000 a year is closer to the mark.Read more
SuperGuide’s Super to income Reckoner can help you quickly and simply understand approximately how much retirement income your super savings might be able to generate.Read more
A million dollars is often bandied about as the gold standard of retirement savings. It certainly sounds like a lot of money, but is it enough to retire on not just comfortably but in style?Read more
Since 1 July 2017 there has been a $1.6 million limit on the amount you can transfer into a super account in pension phase. The question is, is this an arbitrary figure dreamed up by bureaucrats or is it enough for a dream retirement?Read more
Despite concerns that life insurance premiums inside superannuation are set to rise as a result of new legislation making insurance opt-in for members under 25, inactive accounts and balances below $6,000, there is little sign of this happening.Read more
Paying too much for Income Protection insurance inside your super fund can cost you dearly, eating into your retirement savings without necessarily improving your cover.Read more
You can receive a tax credit by buying shares in Australian companies that pay franked dividends. Dividends paid to shareholders by Australian resident companies are taxed under a system known as imputation.Read more
Re-contribution strategies are all about how to withdraw money from your super account and re-contributing it to save tax. Here’s a simple explanation and 10 points to consider before taking the plunge.Read more
An SMSF is a very attractive superannuation savings vehicle but it also comes with plenty of responsibility for anyone that signs up to being a trustee.Read more
In this article we will look at how life insurance inside super works, ideal cover, premiums, claims and taxes, and get the thoughts of an independent financial adviser on how life insurance in super can be effective for estate planning.Read more
SMSF trustees need to assess whether each member of their fund has an appropriate level of insurance. In this article we look at whether there are benefits having insurance inside your SMSF rather outside your super fund.Read more