Please click on the link below to view our latest newsletter: Summer 2015 In this newsletter we look at the following: – How to handle a mortgage rate rise – Debunking insurance myths – How to transform your new year 'resolution' into a 'revolution We hope you enjoy reading it!
Do you think you have lost super? Chances are you have. In fact, roughly 50% of Australians have lost super. According to the Australian government, there are currently 3.4 million lost accounts equaling up to $16.8 billion. Super gets lost when people change their name, move homes or get new jobs and fail to update their details with their super fund. The fund lies dormant and is simply forgotten about. To find out if you have any unclaimed super, follow the steps below: Step 1 Have your tax file number (TFN) ready. Step 2 Go to the ATO website and enter your tax file number, family name, given name and date of birth. If you indeed find that you have unclaimed super, print the results. [...]
Superannuation or super is a government-supported money saving scheme that requires business owners to pay a portion of an employee's salary into a retirement fund. While your retirement may be a while off, it is something that you should start planning for early. How does super work? Once you’re 18 and earning over $450 per month, your employer will begin to pay contributions into a super fund, which is set up to provide you with a nest egg for retirement. Ideally, you should also be making voluntary contributions on top of the super guarantee, which is 9.25% of your salary. The super guarantee is gradually increasing and will be 12% by 2019. The money paid into your super fund is then invested on your behalf [...]
Self managed super funds (SMSFs) are like other forms of superannuation in that they are an investment in your post working life. The major difference between SMSFs and other forms of superannuation is that members of an SMSF are the directors or trustees of the fund. This means that you are in control of the fund. This differs from an industry fund or a retail fund where the company running that fund acts as the trustee. SMSFs are not necessarily the right option for everyone and it is important that you understand the risks and responsibilities involved in running an SMSF. If you are running an SMSF, you are responsible for ensuring that the fund is run in accordance with the various regulations that govern [...]
Self managed super funds (SMSFs) are an increasingly popular way for Australians to plan for their retirement. If you like the idea of being in control of your finances and savings, chances are the concept of an SMSF is appealing to you. However, there are a range of things you need to do if you want to set up an SMSF. What is a trust deed? A trust deed is a legal document that delineates the rules of how the fund will be established and operated. This is a written documentation of the fund’s objectives including, but not limited to, the specification of who will be granted membership and how the monies will be distributed. Together with super laws, the trust deed establishes the fund’s [...]