Earlier in the year we announced the changes to insurance in super that took place from 1 July 2019. They formed part of the government’s ‘Protecting Your Super’ (PYS) package which aims to protect super savings from being eroded by fees and charges. New legislation recently passed in September 2019 introduce new changes to insurance […]
The What, Why, When, on Negative Interest Rates in Australia
According to government data, the Australian economy has been sluggish for some time now. The Reserve Bank of Australia (RBA) has cut interest rates 3 times this year to historic lows in an effort to improve the rate of growth in our economy. More recently, the RBA announced that they are considering alternate strategies to […]
Overview of Power of Attorneys
A Power of Attorney is an important document that is often overlooked. Many people understand the importance of having a Will, but the same consideration is not given to circumstances where you might be unable to manage your own financial affairs while you’re still alive. A Power of Attorney can be useful when you: are […]
What are the minimum pension payment rules?
Last Updated 24 June 2020 Once you reach preservation age, you can start to withdraw your super as an income stream, a lump sum or both. These amounts are tax-free provided you take the minimum pension payment. Why is there a minimum pension payment instead of letting you take what you want? Well, it falls […]
What is the Double Contribution Strategy?
If you have ever wanted to contribute more money to your Self-Managed Super Fund, the Double Contribution Strategy might be for you. It is a way by which you can effectively double your level of tax-deductible superannuation contributions without exceeding the superannuation contribution caps. So what is the double contribution strategy? Background If you or […]