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.