I wish I had a dollar for every time I heard someone say 'I don't believe in Super!' or 'I don't trust Super because Dad (or Mum) lost everything'.
There are two realities all employed Australian's over the age of 18 should understand:
1. Whether you want it or not, if you are earning more than $450 per calendar month, your employer SHOULD be paying into a superannuation plan on your behalf. (Check your eligibility here - ato.gov.au).
2. It's not 'superannu...
Many clients will tell you that one of their main objectives is to be able to provide a legacy for their children, grandchildren or those that they love, upon their death.
Whether this legacy is via the distribution of lifestyle assets (their homes, cars or personal items) or via insurance payouts, investment assets or superannuation savings, many clients forget about the potential tax implications associated with such legacies.
Superannuation assets, in particular, can provide non-dependen...
On July 1, 2017 the maximum allowable non-concessional contribution room will reduce from $180,000 pa (or $540,000 under the current bring forward rules, over a rolling three (3) year provision period) to $100,000 pa, or $300,000 under the new three (3) year bring forward provision rules.
While this may not appear to be a significant issue for younger clients, there is a couple of considerations Advisers may wish to look at for clients who are approaching retirement age (55-65) and who are c...
On Wednesday (Nov 23, 2016), both houses of Parliament passed the Treasury Laws Amendment (Fair & Sustainable Superannuation) Bill 2016 as well as the Superannuation (Excess Transfer Balance Tax) Imposition Bill 2016 which will impact Superannuation Legislation from July 1, 2017.
At Financial Planning Support Solutions (FPSS) we like to remain informed in regards to all things paraplanning, especially in regards to legislation changes and compliance obligations, which may impact on client strategies or positions.
We also like to help keep Advisers informed in regards to administration tips and tricks which will help them to not only reduce the administrative impacts on their firms, but also to ensure that they have the most streamlined processes in place.