Superannuation
New minimum drawdowns for Account-based Pensions
Following the weekends announcements, the Government has halved the minimum drawdown for Account Based Pensions. The drawdown percentage is still based on age and is represented in the table below.
Read MoreIncrease your Spouse’s Super
If you are a member of a couple, there are a few ways that you can build your superannuation balance either from household income, or your spouse’s superannuation contributions.
Read MoreSuperannuation Contributions – New Rules from 1 July 2019
Each year the Government changes the goal posts for superannuation. This year older Australians saving for retirement have been given a boost. Please read on to see if these changes apply to you.
Read MoreDownsizing Your Home & The New Super Contributions
In retirement, we often speak to clients who want to downsize their home. Whether it’s because the children have long since moved on and extra bedrooms are no longer required, the maintenance of the garden is becoming an issue or simply to free up capital to supplement retirement income there are many reasons to consider…
Read MoreNominating beneficiaries for your Super
We often receive questions about superannuation benefits and how they would be paid out to loved ones in the event of death. Questions often arise because of the common misconception superannuation forms part of your estate. Superannuation is not an estate asset and will not automatically get distributed according to your Will. Super has its…
Read MoreMore Flexibility for Tax Effective Super Contributions
Salary sacrificing into super is a popular strategy for clients looking to tax effectively maximise their retirement savings. As of 1 July 2017, many individuals now have the additional option of making personal deductible contributions. This means everyone now has greater flexibility around how they make tax effective contributions to super. What has changed? Since…
Read MoreSuperannuation Reform Seminar
On 12th May, 2017, Muirfield held a public seminar to educate individuals on the implications of the Superannuation changes taking effect in July 2017. If you would like to review the presentation we have attached a copy here. If you have questions regarding the changes please do not hesitate to contact our office on 03 5224 2700.
Read MoreMaximising your Superannuation Contributions before 30 June 2017
The Government is set to make changes to the amount of money you can contribute to your superannuation from 1 July 2017. It therefore makes sense to review your contribution strategy in the lead up to these changes as superannuation, with its many tax benefits, is an attractive way to build your retirement savings. For…
Read MoreInheriting superannuation? You have options
Receiving an inheritance comes with mixed emotions and ensuring you understand the impact on your circumstances is critical. Inheriting a superannuation fund especially, requires planning to ensure you are getting the best outcome. Unlike a cash inheritance, there may be tax implications depending on how you wish to receive the funds. Before completing and processing any…
Read MoreSuper Contribution Limits
We are often asked to explain the superannuation contribution caps. Kate found this helpful video which explains them in a straightforward way.
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