Oct 2, 2023 | Blog, Contributing to Super, SMSF, Superannuation, Superannuation Tax
Can I put redundancy into super? This is a good question and important to understand. Making contributions to superannuation can provide you with tax concessions and may result in you effectively paying less tax on your redundancy payment. Rolling a redundancy payment...
Sep 30, 2023 | Accessing Superannuation, Blog, Retirement Income Streams, Superannuation
Prior to figuring out how to withdraw super, you must first determine if you are allowed to access your super. In order to access your superannuation savings you must first meet a superannuation condition of release. The most common ways of meeting a condition of...
Sep 10, 2023 | Accessing Superannuation, Blog, Insurance in Super, SMSF, Superannuation, Superannuation Tax
This article explores whether TPD insurance is tax deductible within a SMSF. TPD stands for Total and Permanent Disability. In certain circumstances, the premiums for TPD insurance can be a tax deductible expense to an SMSF. TPD is an insurance that can be owned...
Sep 10, 2023 | Accessing Superannuation, Blog, Contributing to Super, Retirement Income Streams, Superannuation
Wondering what happens to your super when you stop working? Superannuation is a vehicle designed to help you save towards retirement and cover expenses when you decide to stop working. You might associate superannuation with the place that your employer makes...
Sep 10, 2023 | Accessing Superannuation, Blog, Centrelink, Superannuation
The average retirement age in Australia in 2023 is difficult to determine. The reason it is difficult to determine is because the definition of retirement has evolved over the past decade or so. How do you define the term retirement? There is actually a definition of...
Sep 10, 2023 | Accessing Superannuation, Blog, Contributing to Super, Retirement Income Streams, Superannuation
Can I withdraw my super at 65 and keep working? This is a common question. Firstly, in order to access your superannuation, you need to meet a superannuation ‘Condition of Release’. There are a number of different ‘Conditions of Release’. The...
Sep 10, 2023 | Accessing Superannuation, Blog, SMSF, Superannuation
Are you wondering if you can use your super to buy a car? Most standard superannuation funds have a limited investment menu. These options usually include managed funds, term deposits and possibly ASX-listed shares. A self managed superannuation fund (SMSF) provides...
Sep 9, 2023 | Blog, Centrelink, Retirement Income Streams, SMSF, Superannuation
What is a commutation payment? Commutations are a withdrawals made from the capital supporting an account based pension. Commutations may affect Centrelink entitlements. The extent to which commutations affect Centrelink entitlements depends on a few factors, which...
Sep 9, 2023 | Accessing Superannuation, Blog, Death Benefits, Superannuation, Superannuation Tax
This superannuation death benefit calculator is designed to help you calculate the death benefit payable to each beneficiary and the tax payable by the recipients. A superannuation death benefit is a payment made to from a superannuation account to the beneficiary of...
Sep 9, 2023 | Blog, Death Benefits, SMSF, Superannuation
The difference between lapsing and non-lapsing superannuation nominations is that a lapsing nomination is generally valid for 3 years; whereas a non-lapsing nomination does not expire. Superannuation death benefit nominations are legal directives to a trustee of a...
Sep 9, 2023 | Blog, Centrelink, Retirement Income Streams, SMSF, Superannuation
The Centrelink schedule example shown below includes the information required by Centrelink/DVA for recipients who have an income stream product. The details in a Centrelink schedule can be used to complete the Centrelink Details of an income stream product (SA330)...
Sep 9, 2023 | Blog, SMSF, Superannuation
A Binding Death Benefit Nomination within an SMSF is a document provided by a member to the Trustee of the Fund. This document details how the member would like their member benefits paid to beneficiaries in the event of their death. One important point to note is:...
Sep 9, 2023 | Accessing Superannuation, Blog, Retirement Income Streams, Superannuation
Are you over age 60 and want to know if you can use some of your superannuation? This article discusses how you can use some of your superannuation over age 60, including the forms in which you can access it and any tax that may be payable. There are four main ways...
Sep 9, 2023 | Blog, Contributing to Super, Superannuation
You may have come across the term SGC Fund Details Pending on your payslip, payment summary or other salary/ wage document. As an employee, your employer is required to make mandatory superannuation guarantee (SG) payments into your superannuation fund. The amount of...
Sep 9, 2023 | Blog, Superannuation
A list of superannuation companies in Australia is detailed below. These include most of the prominent superannuation providers in Australia. Some superannuation funds and retirement accounts have similar names, yet they each have a unique identification number, which...