Breaking down Division 296 tax

Superannuation remains a highly tax-effective way for most Australians to save for retirement, offering concessional tax treatment of contributions and favourable tax rates on earnings within the structure. However, the proposed superannuation Division 296 tax on earnings of balances above $3 million1 requires careful consideration when developing financial planning strategies.

Haive Grace Caballes29 November 2024FINANCIAL ADVISOR ADELAIDE, FINANCIAL PLANNER ADELAIDE, Div 296 tax, superannuationComment

What returns do you need for a comfortable retirement?

I recently wrote an article on how much you need to save to have a comfortable retirement. I thought I would turn this around and look at the return side of things. This is my attempt to figure out what return is required to have a comfortable retirement at different savings levels.

Claiming tax deduction for personal contributions – Everything must be in order – The ATO cannot overlook missing steps.

There are four steps which must be completed to successfully claim a tax deduction for your personal superannuation contributions. If one or more steps are missing or not completed, the Commissioner of Taxation has no discretion to overlook those missing or incomplete steps.

Empowered to choose: Proactive retirement key to happiness

New research finds that customers with a guaranteed lifetime income product often have an easier time transitioning into retirement and have a better quality of life once doing so.

How to choose a superannuation fund

Selecting the right superannuation fund can sometimes seem like a difficult task. But when you consider that your super may ultimately have to sustain your lifestyle for more than 35 years, it's vital that you sort the wheat from the chaff.

Superannuation: a tax effective way to save for retirement

Apart from buying a home, superannuation is likely to be the biggest investment most Australians will make in their lifetime.

It’s also one of the most tax-effective ways to save for retirement. The Government provides tax concessions for superannuation, which include concessional taxation rates for certain contributions, as well as for earnings on investments.

Superannuation - Have you Got Enough?

A general rule of thumb is that when you retire, you will need about 2/3 of your current income to be able to comfortably make ends meet. Will your current super arrangements meet this requirement, or will you need to make extra payments or consider other investment options?

Adam Kerr13 February 2020superannuation, Adelaide financial planner, financial advice, retirementComment