A re-contribution strategy involves withdrawing a lump sum from your super fund, paying any necessary tax on the withdrawal and re-contributing these funds back into super as a non-concessional (after-tax) contribution. The revised superannuation balance will potentially consist of all, or more, tax-free component, which may ultimately reduce the tax payable when funds are withdrawn […]
Concessional super contributions are payments put into your super fund from your pre-tax income. Concessional super contributions are tax deductible to the contributor and are taxed at 15% when they are received by your super fund. They include: Employer super guarantee contributions (including contributions made under a salary sacrifice arrangement) Personal contributions claimed as a tax deduction. The […]
The amount you might need in super to retire depends on the type of lifestyle you plan to live post retirement. As per studies conducted by the Australian Institute of Health and Welfare, the average life expectancy of males and females born in Australia have increased over the years to an average life expectancy of […]
Self-managed super funds must comply with Australian superannuation legislation which requires a compliance audit each financial year to avoid a range of penalties imposed by the ATO for failing to meet compliance obligations. Three common SMSF audit issues consistently arising when reviewing Self-Managed Super Fund’s include: Deed Upgrades The trust deed for a SMSF stipulates all […]
Normally investors must be given a disclosure document such as a prospectus before being offered shares or securities for purchase. However investors holding a sophisticated investor certificate are exempt from these rules and can purchase these shares without having received a prospectus. So how do you get a sophisticated investor certificate? Under chapters 6D and […]
Francis A Jones
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