Millennials – Engaging with Superannuation
The fact that a large number of millennials will reach their retirement with inadequate capital due to not being engaged with their super or have limited financial knowledge is a growing concern. The most basic financial knowledge is at times lost in the younger generations and this causes some concerns not only for the everyday […]
Life Insurance under SMSF
What are the obligations as trustees of a SMSF? The new financial year is a great trigger point to ensure your Self-manged superannuation fund investment strategy is up-to-date. It is this perfect opportunity to review your SMSF goals and ensure they continue to track in line with your objectives. As part of the fund’s annual […]
Protecting your business ownership
Protecting your business in the event a business owner dies is vitally important to the continuation of any company. In most cases business owners are the ones who manage, work and control the major decisions on a daily basis. What are the risks? In the absence of any specific arrangement, the business owners interest is […]
Recently the APRA and ASIC implemented new measures to try to slow the growing Australian property market. For some years now, the Australian property market has been on an upward growth cycle, leaving many to wonder when will it bust? What are the lastest APRA and ASIC changes? This latest crackdown by regulators is targeted […]
Testamentary Trusts
A ‘testamentary trust’ is a trust established under a Will. The trust only comes into effect when the Will maker dies. The nature of this is to separate the legal ownership from the beneficial ownership. There are numerous benefits of a testamentary trust, as outlined below. Flexibility When assets are held in a testamentary trust the […]
Superannuation Legislation Changes
As the new financial year is upon us, we must be aware of the superannuation legislation changes announced recently. Many of these came into affect on 1st July and included: 1. Lowering the concessional contributions cap to $25,000 per annum for all – regardless of age. This is a reduction to the current $35,000 p.a […]
Changes to eligibility for Energy Supplement
From March 20, a number of changes were made to the eligibility of the Energy Supplement criteria. There is some good news though, with those currently receiving this income support payment not being affected. The changes only apply to people who receive Family Tax Benefit or have a Commonwealth Senior Health Card. To what extent […]
The birth of a son or daughter can be an ecstatic occasion for the whole family. Often one filled with joyous times for all those close to the family. It is also a time when planning of appropriate insurances should be discussed. Much like that of deciding whether to upgrade private health care plans, personal […]
Health Care Cards – All you need to know
Navigating your way around applying for a health care card can be a daunting and complex process. Importantly though, concession and health care cards can get you cheaper health services and medicines. Health Care Card This card gives you access to cheaper prescription medicines under the Pharmaceutical Benefits Scheme (PBS) and to various concessions […]
Estate Planning within Superannuation
Now is the time to act upon your estate planning to ensure your superannuation funds are distributed as you wish once you pass away. Implementing binding and reversionary nominations can help you achieve greater estate planning and social security certainty. One way superannuation owners remove trustee discretion is through binding death benefit nominations. This is a […]
