Superannuation

Many retirees are living the asset-rich and cash-poor contradiction, for example living in a $2 million home in Sydney, while surviving on $400 per week from the Aged Pension. While some people will happily downsize from the family home in order to free up some cash for living expenses, this is not ideal in all cases. There is the cost... Read more

If you have an SMSF, and you are an employee, you have an obligation to meet the SuperStream requirements for standards of contributions to your fund. As such you are required to provide your employer with the following information:  Your SMSF’s Australian Business Number (ABN)  Your SMSF’s bank BSB and account number for receipt of contribution payments  An electronic service... Read more

If you are over 55, you are able to access your superannuation while still working via a Transition to Retirement income stream, to reduce tax and boost your superannuation balance. This enables two options: Reduce your work hours and use your superannuation income stream to top-up your income, or Continue to work full-time, boost your superannuation balance while maintaining your... Read more

This year is already racing by. But before we get to the end of another financial year, take some time to think about how well you have looked after your superannuation savings this year. Australians have saved over $1.5 trillion in superannuation. That’s a lot of zeros. So how much belongs to you and are you saving enough to pay... Read more

The final step to retirement is one of the most anticipated life events. For many people though, there is some apprehension, particularly when it comes to money. To ease your concerns about post-retirement finances we urge you to talk to your financial planner at least 5 years before you expect to retire. With their help you can assess your current... Read more

As of 1 July the ATO has new powers to deal with SMSF contraventions and trustees not fulfilling their obligations. A new set of fines ranging from $850 to $10,200, outlined in Table 1 below will be applied depending on the type of contravention and the type of trustee. For individual trustees the fines may be imposed on each individual.... Read more

With the end of the financial year fast approaching, now is an appropriate time for tax planning. Here we highlight the most relevant strategies for our clients. For further information and advice specific to your situation please contact us as soon as possible. For Individuals 1. Capital Gains Tax (CGT): Capital gains can be offset against losses, so now is... Read more

Money Magazine recently asked Edney Ryan Wealth Management’s Brendon Vade to contribute to their magazine. Believe it or not, 20-30 year olds should be thinking about superannuation and their retirement planning. Read Brendon’s tips in the October issue of Money Magazine.

It is becoming increasingly popular to borrow to invest in real estate through a self-managed super fund. There are many clients for whom this strategy is beneficial, as long  as the financial plan addresses the limitations of this approach. Understand the restrictions: You’ll need to be very well read or well advised to ensure that you follow the strict rules... Read more

NEW Pocket Tax Guide Our handy booklet containing the most commonly used tax rates and superannuation information is now available. Submit your postal address and we’ll post one out to you.