Although it may sound a little odd, taking money out of super and putting it back in can actually be beneficial by reducing the amount of potential tax you or your dependents may pay in the future. A recontribution strategy aims to increase the ‘tax-free’ component of your super account while reducing the ‘taxable’ amount. […]
Higher Minimum Pensions from 1 July 2023
The recent 50% reduction in the minimum Account Based Pension withdrawal requirement came to an end on 1 July 2023. This was a temporary measure during and after COVID and was designed to reduce the depletion of ABPs in times of lower investment returns. From 1 July 2023, the minimum withdrawal percentages are reverting to […]
What is an SMSF and is it right for you?
What is an SMSF? A Self-Managed Super Fund (SMSF) does what it says on the tin – you manage your superannuation yourself, instead of delegating the management of your retirement savings to a large institution. In practice, very few people “Self Manage” their retirement savings entirely as they enlist the help of an adviser to […]
Reverse Mortgages
It’s a common scenario for older Australians – asset rich, cash poor. Owning a valuable home and having little income can be an issue, but there are ways around this other than selling your house. Below we look at the workings of a reverse mortgage. What are they? It is called a reverse mortgage as […]
7 Must Haves of an Effective Estate Plan
Planning an estate isn’t always easy and for this reason many people don’t get around to doing it properly. Careful estate planning involves the process of structuring your personal and financial ‘stuff’ so that the right people get the right amount of ‘stuff’ at the right time. This includes ensuring prized personal possessions and financial […]