Any Australian considering making super contributions since July 2017 needs to be mindful that the annual concessional (before-tax) contributions cap is much lower than previous financial years. Since 1 July 2017, the annual concessional contributions cap has dropped to $25,000, which is a lot lower than the current ... Read more
Superannuation strategies
Superannuation strategies can be any super-related action that can help an individual grow his or her benefit. Such action can include strategies that boost your super, processes on choosing investments or investment options, steps to compare super funds, age-based superannuation guides, ways to minimise income tax via super contributions and other super and tax strategies.
The following SuperGuide articles provide examples of superannuation strategies:
Set out below are all SuperGuide articles referring to Superannuation strategies.
Superannuation after-life: Beware the dastardly death tax, and the cap
Although superannuation death benefits are tax-free when paid to individuals considered ‘dependants under the tax laws’, a ‘death tax’ continues to apply when super monies are paid to individuals considered ‘non-dependants under the tax laws.Any of your children aged 18 or over, who can’t prove they were dependent ... Read more
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
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
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
Capital gains: Reducing tax via super contributions
Q: I have a self-managed super fund (SMSF) and I also have two investment properties in my personal name. When I sell the properties, I will be required to pay capital gains tax. Can this capital gains tax be offset by a contribution to the SMSF which would be tax-deductible? Would there be a 15% contributions tax? I ... Read more
Want investments that help you sleep? Understand your risk profile
Everyone is different and when it comes to investing, some people find themselves tossing and turning in bed, while others sleep easy. As an investor or super fund member, the key to getting a good night’s rest is to pick the investments (or investment options in your super fund) that match your personal risk ... Read more
Retirementgate revisited: Australian couples and singles punished for saving
Note: This article discloses the retirement savings ‘sweet spot’ (optimal super balance for securing maximum income when combining super and Age Pension payments) for 4 categories of Australians – homeowning couple, homeowning single person, non-homeowner couple, non-homeowner single person. See summary table, charts ... Read more
Superannuation checklist: What rules apply for the 2017/2018 year?
Although the Coalition government has made significant amendments to Australia’s superannuation rules, many of the super policies did not change from July 2017 (see list later in article).For your convenience, we have split the 2017/2018 year superannuation checklist into 2 categories of super rules. The first ... Read more
Super health check for beginners: 10 tips for your 2017/2018 retirement planning
Note: This article is current for the 2017/2018 financial year.Near the start of each financial year, SuperGuide publishes an updated super checklist for beginner readers. More advanced checklists will follow in coming months. Use this list as a kick-start for your 2017/2018 super resolutions. You may not keep all ... Read more
Super contributions caps for the 2017/2018 year
The superannuation contributions caps for concessional (before tax) and non-concessional (after tax) contributions have been cut for the 2017/2018 year. (Note that the higher contributions caps applicable for the 2016/2017 year, were the same limits that were in place for the 2015/2016 year, which are also set out ... Read more
The short story on super contributions limits (2017/2018 year)
You can make two types of superannuation contributions – concessional (before-tax) contributions and non-concessional (after-tax) contributions – and each type of contribution has a separate limit known as a contributions cap (see text and tables below). Concessional (before-tax) contributions Before-tax ... Read more
