If you are unhappy with your super account’s investment return you may consider switching super funds. Depending on the reasons for your dissatisfaction, a simple way to boost your savings could be to move some, or all, of your existing super account balance into another investment option within your current super ... Read more
Retirement planning
Retirement planning covers topics such as how much superannuation is enough, taking a super pension, claiming the Age Pension, making superannuation contributions while receiving a pension from a super fund, estate planning and looking after your family.
Below are some of our key Retirement Planning articles:
Set out below are all SuperGuide articles referring to Retirement planning.
SMSF advice: Is your accountant still allowed to help your fund?
Being the trustee of a self-managed super fund can be a challenging task at times, and most people need a bit of help at certain stages when running a SMSF, particularly when a decision, or strategy, requires financial advice. Traditionally, many Australians have turned to their accountant for assistance, but ... Read more
Investment returns after retirement matter: Understanding the 10/30/60 Rule
When former Reserve Bank governor Glenn Stevens said ultra-low global interest rates were causing problems for people’s retirement planning, he wasn’t exaggerating. But few realise quite how big the problem is – especially for those already in retirement.Record low global interest rates and low investment returns ... Read more
Super pensions: choosing an investment option in retirement
Most people think all the hard work is over once they hit retirement, but decisions still need to be made about how to invest your hard-earned super savings.Although people often choose to take their super account balance and invest it themselves during their retirement, super funds are keen to help look after your ... Read more
Financial advice guide: What to expect when you talk to an adviser
Even when you decide you need help from a financial adviser, the process of actually receiving professional assistance with your finances may seem like a mysterious journey.Despite what you may think, financial advice is a two-way conversation. You need to do a bit of homework beforehand and give the financial ... Read more
Tax-deductible super contributions: Timing start of pension is essential
Q: I put money into my SMSF in June 2017 from a capital gain. I wasn’t able to tell the fund at that time what it was because my accountant hadn’t completed the figures so that notice was sent to them in August 2017. As I understood the rules, so long as the money was in the fund at June 2017, I could then withdraw any ... Read more
Seeking financial advice? A 5-step guide to obtaining expert help
Now that the July 2017 changes are in place, Australians must make super decisions with a new set of rules, especially in relation to super contributions and super pensions. Unfortunately, more complexity usually accompanies any superannuation reforms, driving many Australians to seek out financial advice.Note: For ... Read more
Tax-deductible super contributions: No longer need to meet 10% income test
Q: I work for myself but I also have a part-time job. I have been told that even though I receive SG from my part-time employer, I can also make tax-deductible super contributions. Is that true? And if it is true, how does it work?All Australians are eligible to make tax-deductible super contributions. A ... Read more
Concessional contributions: What form do I use to claim a tax deduction?
Q: I want to make a tax-deductible super contribution to my super fund, in this case, a SMSF, although I also have a super account with an industry fund. I am trying to find the official form for claiming this type of deduction. Could you lead me to a link where I could find a generic S290-170 notice of intent to ... Read more
Managing capital gains tax with super contributions
Q: I am about to make a capital gain of about $200,000 on an investment property I have owned for several years. My marginal tax rate is 32.5% and I am an employee, and 43 years old. I want to contribute the equivalent of the capital gain to my super (which is not a self-managed fund), so I can save some money for the ... Read more
Employees can now make tax-deductible super contributions (since July 2017)
Note: The option for employees to make tax-deductible super contributions became law on 29 November 2016, and took effect from 1 July 2017.As an employee, the general rule when making super contributions is, you can take advantage of the concessional (before-tax) contributions rules by salary sacrificing, or by ... Read more
Who can make tax-deductible super contributions?
Note: Since 1 July 2017, all eligible Australians under the age of 75 can claim tax deductions for personal super contributions, subject to the annual concessional contributions cap. Such a measure can assist Australians who may be partly self-employed and partly employed, or individuals who work for employers who ... Read more
