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.
FEATURES
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How long you can expect to live and what it means for your super
While none of us knows exactly how long we will live, you can narrow the possibilities with these life expectancy projections based on Australian numbers.
Super death benefits and tax explained
Your beneficiaries could end up paying more tax than necessary when they receive your superannuation death benefit if you don’t learn the rules that apply.
WILL YOUR MONEY LAST AS LONG AS YOU? (UPDATED FIGURES)
What is the cost of living in retirement in Australia?
One of the challenges of retirement planning is working out how much income you will need to live the good life. Here are some tips to get you started.
How much super do I need to retire?
Forget advice saying you need $1 million in super to retire. The amount you will need
depends on your personal circumstances and preferences, and may be less than you think.
What age should I retire?
There are no hard and fast rules around when you can retire, but there are practical issues to consider and money is just one of them.
CHEAPEST INSURANCE
Super funds with the lowest life and TPD insurance premiums
As the cost of living rises, life and TPD insurance premiums inside super have bucked the trend with little or no movement in 2023.
Super funds with the lowest income protection insurance premiums
Income protection premiums continued to increase at a significantly higher rate than death and TPD premiums in 2023, but the cost of cover varies widely.
SMSF Q&As
Franking credits and dividend income in your SMSF
While interest rates have lifted off their historic lows, franked dividends from shares are still a happy hunting ground for income-seeking investors.
Super recontribution strategy: How it works (including calculator)
Find out how a recontribution strategy can decrease tax for your beneficiaries and help you and your spouse share super balances more evenly.
SMSF investment rules: What every trustee should know
Penalties for SMSF breaches rose on 1 January 2023 so it’s now more important than ever to make sure your SMSF is doing the right thing.
Life insurance inside super: Choosing the right level of cover
Your guide to selecting an adequate and appropriate level of the right protection for your family.
SMSFs and insurance: Rules and considerations
Even if you have life insurance outside super or in a pre-existing fund, SMSF trustees are still required to consider their insurance strategy.
