Super tax concessions are changing But are they fair? As we reported last week, there will be a change to how super is taxed for with balances of more than $3 million. The proposed legislation will be scheduled to commence on 1 July 2025. There has...
Super is a hot topic right now, with everyone seemingly having an opinion on what is the ideal amount to live on in retirement – and how to encourage this in an equitable way. While most of us are unable to influence the financial policy makers, our best...
Whose super is it? And what’s just changed? Last week, after much heated debate, the Albanese Government announced a change to the way super will be taxed. Even more heated debate followed. And most of it seemed to be focussed on ‘whose super is it’ and ‘is...
What happens to your super when you die? What happens to your super when you die is a common question. Most of us are keen to ensure that we don’t leave behind a legal mess for our loved ones to untangle. Or even worse, have our money left to those we don’t...
What do retirees need to know? Rules covering contributions to super can be challenging to understand. The following overview looks at the two broad categories of contributions and then focuses on those rules that affect retirees the most. What are the...
My super is tanking: Should I withdraw my super? This question arrived at the end of last week. And it’s easy to see why. The ASX All Ordinaries index dropped by 2.51% in a single day, recovered by 0.15% on Thursday and then dropped again by 1.51% on...
Fifth downturn in 30 years The numbers are in and ‘its not pretty’ said one super fund chief. This is all too true, with Chant West reporting an expected 3.5% drop in super fund balances over the past 12 months. This amount is still an estimate as it takes...
As we’ve noted already, there was a huge focus on superannuation in the last week of the election campaign, in particular, the change in the ‘downsizing’ rules. This proposal would mean that those wishing to put extra money into super, from the sale of a...
The detail you need to know Last week’s Federal Budget included a significant change to the rules regarding decumulation. In particular, how much money you are allowed to draw down from your super account post July 1, 2022. These changes have raised a lot of...