If you have a parcel of shares under your name and you wish to transfer ownership to another entity, instead of a buy-and-sell process, you can perform what’s known as an ‘in-specie transfer’ or ‘in-specie contribution’. An in-specie transfer is like a ‘gifting’ of asset where the ownership of the shares is transferred to another […]
What happens if you exceed your super contributions cap?
Making additional payments to your super fund will help you build your retirement savings. There are two types of contributions you can make to a super fund; Concessional or Non-Concessional. The government imposes a cap on each type, limiting how much money you can contribute to your super fund each financial year. So what is […]
EOFY: Prepaying Expenses
A strategy to consider before the end of the financial year is pre-paying expenses such as investment loan interest or investment management (financial advice) fees. Doing this might help increase your immediate tax deductions which will bring down your tax bill. Financial Advice Fees Generally, fees that related to producing taxable income are tax deductible. […]
Changes to insurance in super from 1 July 2019
You might have received a letter recently about changes to insurance in a super account you have forgotten entirely about. All super funds are required to send you a notice due to changes to insurance in super from 1 July 2019. Nearly all superannuation accounts have life insurance by default. Life insurance costs money […]
Test Your Financial Knowledge
Financial literacy is important whether you have a financial adviser or not. Having someone look after your financial household can give you the one thing money can’t buy; time. Whilst that’s a wonderful thing, it doesn’t mean that you should shut yourself off from all financial matters entirely. At Align, we believe it is important […]