Usually, to get a tax deduction, you need to spend money. And spending money makes you less wealthy. However, there is one kind of ‘expense’ that lets you have your financial cake and eat it too. Read on while we explain.
'Super splitting' is not just a term for managing super when a couple separates. Couples who remain together can also split super between themselves. This opens up a raft of planning opportunities, which we explore in this week's article.
Yes, it’s true. The government is giving away free money. There are a few catches, however, and they’re not going to give you a fortune. But if you qualify, this is a government perk that is well worth contemplating.
As of 2017, almost all working Australians can make a personal superannuation contribution for which they claim a tax deduction. For most people, this provides an immediate positive return on their investment. This article explains how to make the most of personal superannuation contributions.
There are two ways to think about the price of anything. The first is the number of dollars it would cost to purchase that thing. The second is to think about what else we could spend our money on. This is called ‘opportunity cost’ and it is always worth remembering when you make a purchase.
Until now, salary sacrifice has been one of the only ways that an employee can make an extra tax-advantaged contribution into their super fund. But that changed on 1 July 2017. Now, almost everyone can make additional contributions without their employer even knowing – which might come in handy next time you ask for a pay rise!
Recent changes to the assets test have increased the rate at which the aged pension is reduced when assets exceed a certain level. This has led to what some people describe as a superannuation sweetspot. Hitting this sweet spot can make a big difference to your retirement, so read on and contact us if you would like to discuss how you can hit your own sweetspot.