Super funds: learn more about members or risk regulatory intervention

From

The prudential regulator has warned super fund trustees to provide concrete evidence that they understand what their members want before making decisions on their behalf. The call was made by Australian Prudential Regulation Authority (APRA) deputy chair Helen Rowell at a Financial Services Council Leaders Summit panel. While Rowell acknowledged that super fund directors believed their decisions […]

continue reading

Downsizing retirees can boost superannuation with home sale

From

People over 65 will be able to make an additional contribution to super provided they sell their house to do it. This measure was part of the May 2017 budget changes. The basic details are that individuals who are home owners can, from the proceeds of sale of their principal place of residence, each make […]

continue reading

Australia ranked 6th globally for retirement outcomes: 2017 Natixis Global Retirement Index

From

Australian retirees’ wellbeing is ranked number six in the world, according to new research from Natixis Global Asset Management. The 2017 Global Retirement Index (GRI), released yesterday by Natixis Global Asset Management, measures the ability of countries to meet the needs of retirees. It examines the factors that drive retirement security and provides a comparison tool […]

continue reading

Xpress Super’s growth has it in the fast lane

From

The low-cost SMSF administrator, Xpress Super, enjoyed 100% organic growth in the 2016-17 financial year, highlighting the growing demand by SMSF trustees to minimise their funds’ administrative fees. Xpress Super is part of the SuperGuardian administration group that saw an overall growth of nearly 25 per cent in its client base in the 2016-17 financial […]

continue reading

“Australia’s Death-Tax by Stealth” – can it be managed?

From

The removal of anti-detriment payments, announced in the Federal Budget and effective from 1 July 2017, will have a profound effect on non-dependant beneficiaries receiving death benefit payments from un-taxed elements of superannuation funds. This is now commonly known as “Australia’s Death-Tax by Stealth”. Prior to 1 July 2017, where trustees allow it, it is […]

continue reading

Budget changes are “on for young and old”

From

The 2017 Federal Budget contained several proposals that will raise people’s engagement with their super. When contrasted with the 2016 Federal Budget, the changes in the most recent Budget were not of a similar magnitude, nevertheless, some changes will increase the level of engagement certain types of clients have with their super. Martin Breckon, IOOF […]

continue reading

Making a $540,000 non-concessional contribution without any money

From

On 1 July 2017 the maximum amount a member can contribute to their super fund each year non-concessionally (i.e. no tax deduction) will decrease from $180,000 to $100,000. Currently, a member can make a so-called “non-concessional” contribution (NCC) of either $180,000 or $540,000 (an advance contribution covering the next three years, triggering the so-called “bring […]

continue reading

Super changes: the final checklist

From

Super changes: the final checklist Colin Lewis, Head of Strategic Advice at Perpetual Private Legislative changes to superannuation are only weeks away – from 1 July 2017 the amount you can contribute to super will be capped and there will be a tax hike on contributions for high income earnings. If you’re in a position […]

continue reading

CPD: Strategies to supplement super contributions

From

Superannuation is arguably one of the most important investments we can make. The May 2016 Budget presaged significant changes to the superannuation system that come into effect from 1 July 2017, some with far-reaching strategy implications. In this article, Centuria looks at the importance of saving for retirement, and considers some strategies outside of superannuation […]

continue reading

Daintree Capital takes on the income challenge

From

The income challenge is one of the biggest issues facing Australian retirees. With our official cash rate looking like remaining at 1.5% for quite some time, the numbers become staggering; A retiree with a $1 million portfolio investing at the cash rate will produce only $15,000 p.a. Whilst the temptation is to go up the […]

continue reading