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 […]
Superannuation Changes from 1 July 2019
A number of superannuation changes takes effect from 1 July 2019. What are they and how might this affect you? Read below to find out. Carry-forward concessional contributions The 2018-19 concessional contributions were capped at $25,000. If you didn’t use all $25,000, you are now able to ‘carry-forward’ the unused concessional contribution amount into your […]
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 […]