Single Touch Payroll (STP), is an Australian Government initiative to reduce employers' reporting burdens to…
Super is something that we all have to deal with at some point or another. Planning and investing in Super might not come easily to many people, but it is worth taking some time out to think about if you want to go down this path.
It has been a rocky year for some business in Australian and some couples as well. In this time of unpredictably, it is good to have something that is dependable to fall back on.
One of the biggest benefits of Super has to do with taxes. This is especially important when you are retired and you don’t want to be thinking about your income and the taxes you have to pay. If you take a dive into the various tax benefits that you are eligible for after retirement with Super, you might feel differently about the whole deal.
But that is not to say that you should worry about Super only when you are ready to retire. Planning out investments towards your Super well before you retire is the only way you will have an investment that you can dip into when you are finished working or over 60.
If you are 55 or over there are benefits…
Those who are willing to take some time out to understand the intricacies of Super will find that there are options that you can look into that will boost their investments. One such facility is Transition to Retirement (or TTR), which is way of boosting you Super via reducing your overall tax bill. The catch is that you have to do your homework or if you want to save time, we can summarise it for you when you meet us.
That can really be said about any aspect of Super. There are many such facilities that will benefit you in the long run when you begin investing in Super. So if the question we are answering is: should I care about Super? The simple answer to that is yes. But let’s not forget that investing in your Super will require time and planning from your side. Use the time before your retirement to plan what you want your retirement to look like. Super can prove to be very advantageous if you take the time to understand how to best boost your investments.
Planning where your super is concerned, can give you peace of mind, and be rewarding to you and your family. To start planning now, contact 03 9848 5933
This Article is distributed to provide information of a general nature only. The content of this newsletter does not constitute specific advice. Readers are encouraged to consult their adviser for advice on specific matters.