Wednesday, July 24, 2019
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Superannuation

Often superannuation is your largest single long term investment so managing this now is very important if you wish to make the most of it for later in life.  At Q Advice we can help you put in place the right strategies for your superannuation by:

  • Matching your needs to an appropriate super fund
  • Consolidating numerous small funds into one meaningful account potentially saving fees
  • Assist locating lost superannuation
  • Utilise  the appropriate strategies to augment your super
  • Ensuring the available super tax concessions are utilised
  • Selecting the appropriate spread of investments
  • Instructing your fund’s Trustee of your beneficiary nomination
  • Providing guidance on self-managed super funds.

Super Strategies you might like to consider

Salary Sacrificing

Most employees receive employer super contributions of 9% of salary.  Salary Sacrificing allows you to add to these contributions from your pre–tax wage. Instead of being taxed at your marginal rate these contributions are taxed at 15% thus increasing super saving tax – effectively.

Government Co Contribution

If you are a low income earner and make after–tax contributions to your super, the government will contribute up to $500 to your super. We can help you determine your eligibility.

Self-Managed Superannuation Fund

If you are wishing to take greater control over your superannuation then a Self-Managed Superannuation Fund (SMSF) may be appropriate for you. The following are a few examples of the advantages and disadvantages that need consideration.

Advantages

  • Greater Range of Investment choice
  • As Trustee you have complete control
  • More options for Estate Planning

Disadvantages

  • As Trustee you have full responsibility for operation and legislative compliance of the fund
  • Additional cost for administration, auditing and accountancy
  • Running your own SMSF can be complex

At Q Advice we can help you to determine if a SMSF is right for you. If you already have a SMSF we can provide strategic advice and help with investment strategy development and implementation.

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