Demystifying Superannuation: Your 2023 Guide to Mastering the Super Game 📚🔎
Navigating the world of superannuation can feel like an uphill battle, especially in light of the ever-evolving changes and updates. Nonetheless, it remains an indispensable pillar of your financial blueprint and retirement strategy. In this article, we aim to unravel the complexities of superannuation, its mechanics, and everything you need to be aware of as […]
Mapping the Fiscal Journey: Strategies for a Prosperous New Financial Year
As we wave goodbye to the past fiscal year and open our arms to the incoming one, it’s the perfect moment to contemplate our financial voyage and strategize for what’s ahead. The end of the financial year (EOFY) is a gateway to small actions that can transform into significant windfalls in our golden years. Reflect, […]
Navigating Retirement: Cognitive Decline, Home Care, and Financial Support 🏠💰🧠
As we age, certain aspects of life improve, while others may decline. It’s essential to plan for cognitive decline early on to ensure better wellbeing throughout your retirement years. In this blog post, we’ll discuss self-managing government-subsidised home care, proposed changes to the Pension Loans Scheme (now known as the Home Equity Access Scheme). 🌡️🍲🛌 […]
Maximising your retirement savings: A compresensive guide to Super contributions.
Entering the workforce at the age of 18 and making more than $450 a month comes with a fantastic perk in Australia. Your employer has to make superannuation guarantee (SG) contributions, a little something extra tucked away for your golden years. Right now, this super rate is 10.5% of your wages, so it’s a good […]
Billions Invested in Underperforming Australian Superannuation Funds: A Closer Look 📉🇦🇺
A recent analysis by the Australian Prudential Regulation Authority (Apra) reveals that billions of dollars are invested in underperforming superannuation funds in Australia 🌏💰. The study shows that one-in-five investment options are generating returns significantly below their benchmarks. Major financial institutions such as Commonwealth Bank-backed Colonial First State, OnePath, BT Funds Management, and Equity Trustees […]
Another Super Merger – Dentons Guides EISS in Merger with Cbus Super
#SuperFundMerger 🤝 #FinancialServicesIndustry 🌐The Australian financial services industry has recently witnessed a significant merger between Energy Industries Superannuation Scheme Pty Limited (EISS Super) and Cbus Super. EISS Super, a specialist super fund for the NSW energy industry, had 19,000 members and assets of AU$5.3 billion, while Cbus, one of Australia’s largest super funds, boasted 850,000 […]
Navigating the Complex World of SMSF’s: A Case Study on Trustee Responsibilities 🌐📚
Superannuation law is a highly regulated environment, and managing a self-managed superannuation fund (SMSF) comes with its unique challenges and responsibilities. A recent case, WZWK and Commissioner of Taxation (Taxation) [2023] AATA 872, highlights the risks involved in a trustee acting improperly and the detrimental tax consequences that can result. 🚨💰 An SMSF is a […]
Keeping up to date with new considerations on proposed Superannuation tax rules
SMSF #FamilyTrusts #TaxChanges 📈🏦💰 The Australian government’s proposed tax on superannuation balances above $3 million is causing concern among investors, who are considering alternative tax-effective structures such as family trusts and companies. SMSF Association CEO Peter Burgess warns that the government may be “naive” in assuming its projected revenues from the tax will not be […]
Unlocking the Secrets of Superannuation: A comprehensive guide to your retirement savings.
Superannuation 🌏 #RetirementPlanning 🏡 #Australia 🇦🇺 Australia boasts a world-class retirement savings system, providing all workers, whether part-time or full-time, with a steady income for their retirement years. Superannuation, a cornerstone of the Australian retirement system, allows individuals to choose not only their fund but also their investment type. This flexibility caters to different risk […]
Improving Equity in Australia’s Superannuation System 🌏💰
The Association of Superannuation Funds of Australia recently released a research report highlighting the positive impact of recent changes to superannuation tax settings on the equity of the system 📊. The report found that measures such as the Transfer Balance Cap and additional tax on balances above $3 million are addressing the minority of cases […]
