Corporate Trustee vs Individual trustee for Self-managed Superannuation Funds (SMSFs) – what is the better structure for you? Whether you are about to set up an SMSF or are reviewing your SMSF trustee structure, this comprehensive guide aims to provide an in-depth look into the two trustee structures for SMSFs: individual trustee and corporate trustee.
Self-managed super funds (SMSFs) are a crucial aspect of Australia’s retirement planning landscape and it’s important to become familiar with two of the most common self managed super fund set up. With the flexibility they offer, many Australians opt for this personalised approach to managing their superannuation. Among the various ways to structure an SMSF,
Knowing the pros and cons of SMSF is a fundamental step in responsible financial planning. Self-managed super funds (SMSFs) have become a popular choice for Australians looking to take control of their retirement savings. However, understanding the advantages and disadvantages of SMSFs, as well as how they compare to other superannuation funds, is vital for
Are you a Self Managed Super Fund (SMSF) trustee seeking further insight on financial decision making and compliance, or are you curious about what is involved in managing your own superannuation? Managing a SMSF carries responsibilities that require careful planning, knowledge, and diligence. The role of an SMSF trustee is central to this process, governing
Feeling anxious at having more free time but less money to spend? Self Managed Super Fund (SMSF) and the SMSF Accountants’ guide, managing your retirement savings can be simple and straightforward. With the ability to make investment decisions, control administrative costs, and plan for your financial future, it offers unique opportunities and responsibilities. Discover the
A super health check is important to stay on top of your super. Even though you have a long way to go before retiring, wouldn’t it be nice to know that your super is already on track? And that you’re making the most of your efforts to increase your super while maintaining a comfortable standard
Understanding the intricacies of the superannuation system specifically super details for employers is crucial to fulfilling your obligations and supporting your employees’ financial well-being. In this blog, we will delve into the essential superannuation details every employer should know, providing valuable insights and practical guidance to help you navigate this complex landscape effectively. Read on
The government proposes a 30% tax on high super balances, as announced on February 28, 2023. Starting from July 1, 2025, any superannuation balances above $3 million will be subject to a concessional tax rate of 30% on future earnings. It’s important to note that this proposal has not yet been enacted into law. This
As you approach retirement, it’s wise to consider putting extra money to boost your Super this 2023 with the bring-forward rule. If you happen to receive an inheritance or sell an asset, the same applies. By doing so, not only will you give your retirement savings a boost, but you’ll also benefit from tax-free income
An update on work test removal has provided new opportunities for those approaching retirement. Starting from 1 July 2022, individuals aged between 67 and 74 won’t have to satisfy the work test to make or receive non-concessional or salary-sacrificed contributions to their superannuation. The announcement made in the Federal Budget on 11 May 2021, regarding