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The super changes you may have missed – and missed out on

By Colin Lewis, Head of Strategic Advice, Fitzpatricks Private Wealth April 2022 Thankfully, superannuation was not meddled with in this year’s Budget. It was silent on super except for the Government announcing (days earlier) that it was extending the 50 per cent ‘temporary’ reduction in minimum pension drawdown rates for another year – good news for…

Meg on SMSFs – More on future-proofing your fund

By Meg Heffron, on behalf of Firstlinks April 2022 Last month I shared some ideas for getting a self-managed super fund prepared for the eventual incapacity or even death of a member. Several comments flagged the challenges for single-member funds where the eventual beneficiaries (or support team in the event of mental decline) will be the…

Want to grab your super?

By Colin Lewis, Head of Strategic Advice, Fitzpatricks Private Wealth March 2022 People in their late fifties, early sixties – the age when you may be able to access super – start thinking about retirement and their super to fund the years ahead. Many people look at it as a lump sum to pay off the…

Ensure you get it right when making a “downsizer contribution”

By Colin Lewis, Head of Strategic Advice, Fitzpatricks Private Wealth February 2022 The Australian housing market has gone through the roof – encouraging sellers to return to the market. If you’re selling and not buying another property, the question is what to do with the sale proceeds. Contributing some, or all, of it into superannuation is…

Should I pay off the mortgage or top up my superannuation?

By Di Johnson, on behalf of Firstlinks January 2022 At a certain point in life, many wonder what’s better: to pay off the home loan ASAP or top up your superannuation? If your emergency cash buffer looks OK and you have enough to cover you for around three to six months if you lost your job,…

Planning for the New Year

By Colin Lewis, Head of Strategic Advice, Fitzpatricks Private Wealth January 2022 The festive break is the perfect time to kick back with family and friends. It’s also a good time to take stock of where you’re at financially and to make sure you’re on track in the new year. When it comes to the constantly…

Super ideas for managing volatility

We live in turbulent times with volatility on global share markets being the new norm due to China, the Fed, inflation pressure and the new Omicron COVID-19 variant etc. There’s always some reason for it. And when investment markets are volatile, logic can go out the window.

Tips when taking large withdrawals from super

By Meg Heffron, on behalf of Firstlinks November 2021 I recently talked to a client about taking a large benefit (withdrawal) from their SMSF. Believe it or not, there’s a lot to consider in working out how to structure the payment. Just taking a very large pension amount is often the worst possible thing to do.…

10 things to consider when buying property in your SMSF

By Colin Lewis, Head of Strategic Advice, Fitzpatricks Private Wealth November 2021 The Australian love affair with real property has never been more evident than in the last 12 months with the market having gone berserk. If you are looking to buy a property using your super, here are ten things to consider before rushing in.…

Excess super contributions

By Colin Lewis, Head of Strategic Advice, Fitzpatricks Private Wealth October 2021 Have you received an excess superannuation contribution determination from the Australian Taxation Office (ATO) and wondered why – when you thought you’d contributed the right amount? Apart from the obvious of just putting too much into super, you can easily trip up the contribution…

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