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Does the sales pitch for private assets hold up to scrutiny?
Conventional wisdom is a byproduct of groupthink that presents solutions good enough
for the average person while simultaneously not being right for any individual. You
follow it at your peril. The more different you are from the person that defined a rule the
less you should follow the rule. Each Monday I will challenge the investing norms that
just may be holding you back from living the life you want.
Read MoreHow do you start accessing your super funds when you stop working, or maybe even before you stop working? This covers the basics, including how to switch your super accumulation account to an account-based pension.
Read MoreReviewing your super is a small investment of time that can result in a large return. Superannuation is one of the most effective vehicles for Australian investors saving for their retirement. It has favourable tax rates, compulsory contributions going in from employers, and difficult conditions of release meaning no temptation to access it prior to retirement. If you’ve never reviewed your super, here are a few steps to get you started. Small changes can have a meaningful impact to your retirement outcomes in the future.
Read MoreMark, Director of Personal Finance Morningstar Australia, answers a reader question about investing outside of super. Mark answers a reader question about investing outside of super.
Read MoreThis very issue was the subject of a recent private binding ruling (released 25 March 2024). The taxpayer had for a number of years (actual number was redacted in the published ruling) made personal superannuation contributions for which the taxpayer claimed a tax deduction. The actual amount of each of these contributions was not provided in the published ruling.
For those who have saved a healthy nest egg, retirement is a dream destination, one where you have loads of free time and zero responsibility.
Read MoreIn a recent Private Binding Ruling the ATO was asked to consider the tax treatment of the death benefit where the death benefit was paid after the surviving spouse had passed.
Estate planning can be complicated for both financial advisers and clients due to legal complexities, financial considerations, and family dynamics just to name a few.
Read MoreAs the tax operates at a member level, assessments of the tax will be issued to the member and not to the super fund. The member can either pay the assessed tax personally or have the tax paid by their super fund on their behalf (with the super fund debiting the member’s account with the payment). The operation of the new tax will be very similar to the current operation of Division 293. Consequently, the ATO will initiate the tax assessments, the member will not be required to lodge any returns in relation to the tax.
Read MoreRecent updates to the Federal Budget have favourably impacted contribution rules for superannuation, which come into effect from 1 July 2022, as part the implementation of the Federal Government’s superannuation reform.
Read MoreWhen Family Court orders are finalised, the parties might think that it’s all over, but when it comes to super-splitting there’s considerably more to do.
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