SMSFs Explained (self managed super funds)
A self-managed super fund or SMSF is a special type of super fund, which can have up to four members who are also ‘trustees’.
How do I change super funds?
The easiest way to find all of your lost superannuation accounts is to head to the my.gov.au website and link your account to the Australian Tax Office, or ATO. You can then transfer your old super balance to your new super fund on the my.gov website.
Explained: Understanding your Super fund’s fees and costs
Explained: Understanding your Super fund’s fees and costs: Jenny Jingle’s super fund charges 2% in yearly fees (including investment fees, administration and indirect costs). Billy Bob’s super fund charges 1.75%. Whose super fund is better?
How to access / withdraw money from superannuation
How to Access or withdraw my super? Australia’s Superannuation system was designed to fund the retirement of our growing population, so, typically, we cannot access or withdraw super until we retire.
What is superannuation?
Superannuation is a financial system designed to fund the retirement of Australians. By contributing to super, Australians can self-fund their retirement or leave a legacy to their partner or children on their death.
How to Contribute to Superannuation
There are two simple ways to contribute or add money to superannuation.
Self-Employed (ABN) Superannuation
If you are self-employed, you can make personal contributions to a superannuation fund as a long-term retirement strategy – and claim a tax deduction.
What is negative gearing?
Negative gearing is a strategy used by people to grow the value of their investment while keeping their tax as low as possible. Investors use negative gearing because the interest repayments on loans are typically tax deductible against their personal income.
What is a portfolio?
Portfolio definition: A portfolio is a collection of financial assets, such as stocks/shares, savings accounts, property, bonds and other investments. A portfolio is used is to do two things: minimise risk, and maximise returns.
What is a transition to retirement strategy (TTR)?
A transition to retirement strategy is a superannuation account-based income stream that can be started when a person reaches their preservation age.
What is a Superannuation Recontribution Strategy?
A superannuation recontribution strategy is a strategy designed to maximise the amount of after tax income for a retiree under 60, or non-dependent beneficiaries of their estate.
What is a Limited Recourse Borrowing Arrangement?
A limited recourse borrowing arrangement is a strategy used by self-managed superannuation funds (SMSF) to borrow funds from a third party lender and invest in a single asset, such as a residential or commercial property.