Self-Managed Super Fund Advice
As the name suggests, a self-managed super fund (SMSF) is one that the members manage for their own benefit.
SMSF’s are a rapidly growing segment of the superannuation segment of Australia. SMSF’s allow for maximum control over super benefits, which in turn means that super benefits are managed in ways that complement all other elements of a financial plan. This includes, of course, your estate planning (super benefits are not generally subject to your will and therefore you need to make specific arrangements for the posthumous management of super benefits).
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Relevant Articles...
Estate Planning and Super
When it comes to estate planning, many people overlook their superannuation. This is risky, because superannuation does not necessarily form part of your estate. This means that your regular legal will may not address what happens to your super when you no longer need it.
Consolidating Super
Every year we make it a point to write at least one blog article on consolidating super. Consolidating super is where benefits held in two or more super and funds are rolled over into a single fund - either one of the existing funds or a new fund altogether. Over time, consolidating super can have a substantial impact on your retirement benefits.
Personal Super Contributions. Having your cake and eating it too.
Usually, to get a tax deduction, you need to spend money. And spending money makes you less wealthy. However, there is one kind of ‘expense’ that lets you have your financial cake and eat it too. Read on while we explain.
Co-Contributions. You Can Get Something for Nothing.
If you have a spare $1000, you might consider making an extra contribution to your super fund. If your income is otherwise low, the Commonwealth government will give you up to an extra $500.