Superannuation has been a hot topic of discussion recently – and for all the wrong reasons! The seasonal practice by governing political parties of leaking information about budgetary proposals under consideration led to considerable, mostly ill-informed discussion in the community.
Budget Highlights 2013 The following items, Budget Highlights 2013, were extracted from the 2013 Budget announcements by the Federal Treasurer, as likely to be of interest to our readers. We invite comments on any of the measures and, as usual, are available to review any that directly affect you to assess their impact on your wealth management (including estate planning) strategies. Budget Highlight: Taxation Measures - Replacement of existing Baby [...]
Superannuation contribution eligibility Superannuation contribution eligibility and regulatory 'caps' determine the rate at which you can accumulate funds for your retirement. Over time, various provisions have varied the rate at which contributions could be made to a superannuation fund. At different times also, different caps have applied whether the contributions were concessional, or nonconcessional. [For more on this aspect of superannuation, refer to our article – Superannuation Investing.] Who Can Contribute to Superannuation? Prior to [...]
Have you had a Capital Gains Tax (CGT) event during the year? Managing Capital Gains Tax events so as to minimise the actual CGT payable will optimise the benefit you receive from the 'transaction'. If you have made a capital gain during the year due to the 'sale' of an eligible asset, you may be able to offset some of the taxable capital gain with either business losses or capital [...]
What is superannuation investing? Superannuation investing entails two elements of investment concept: firstly, it is important to recognise that superannuation is not of itself an investment, as a structure under which investments are made; secondly, superannuation investing applies all of the usual skills required for investing of any type and includes: identification of goals (and the timeframe for their achievement);assessment of the risk aversion profile of the superannuation fund member (the [...]