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What low interest rates may mean to you

By Colin Lewis, June 2019 With the Reserve Bank recently cutting the official cash rate to a historic low of 1.25 percent and the likelihood of further cuts to come, investors are seeing their returns eroded. For retirees with investable assets sitting in cash, term deposits and fixed interest securities, lower returns mean less income…
Contributing to super as a wage earner

Contributing to super as a wage earner

By Colin Lewis May 2019 Often, it’s not until you’re about to lose something that you really appreciate what you’ve got. Whether or not wage earners recognised this with their voluntary concessional (pre-tax) superannuation contributions is another thing. For most employees, their contributions come mainly via the 9.5 percent compulsory Superannuation Guarantee (SG) paid by…

How Labor’s super proposals may impact you

By Colin Lewis, April, 2019 With the upcoming election, it’s worth revisiting Labor’s proposed changes to superannuation. Firstly, Labor wants to reduce the non-concessional contributions cap to $75,000 a year (currently $100,000).  This would reduce the maximum three-year bring-forward to $225,000 (currently $300,000). Building your retirement nest egg in super would become harder under Labor. …
Transition to retirement

Is a transition to retirement income stream still worthwhile?

By Colin Lewis, March 2019 A transition to retirement income stream (TRIS) provides access to your superannuation whilst still working once you reach preservation age. TRISs were introduced by the Howard Government back in 2005 to help people ‘transition into retirement’ by allowing them to use their preserved super to supplement their reduced income resulting…

Super’s new work test exemption

By Colin Lewis February 2019 The Australian superannuation system is designed around saving for retirement. The ‘sole purpose test’ – a cornerstone of super law that drives this position – ensures that a super fund is maintained for the purpose of providing benefits to members upon their retirement, or attaining age 65, or for beneficiaries if a…
Colin Lewis

Ensure your pension earnings are tax-free

By Colin Lewis January 2019 Superannuation is complex with lots of rules which constantly change and it’s inflexible with your money locked up generally until retirement. Sounds unattractive, but it is the most tax effective investment vehicle for long-term wealth creation.  In accumulation phase, income including capital gains is taxed at only 15 percent.  A…
Colin Lewis

How much can I contribute?

By Colin Lewis December 2018 So, you want to bolster your retirement nest egg by making a contribution to your super fund. Sounds simple enough … right? Concessional contributions Making a pre-tax ‘concessional’ contribution – that is, a personal contribution for which you claim a tax deduction and/or salary sacrifice contribution – is relatively straightforward. …

More detail on the $1.6m Transfer Balance Cap

By Monica Rule Courtesy of Cuffelinks November 2018 We asked Monica to respond to this comment in response to Noel Whittaker’s article last week: Monica’s comments on the $1.6 million TBC no longer being relevant (provided documentation was done properly as at 30 June 2017) seem incredible. Can this be explained in a bit more…
Colin Lewis

Winding up a SMSF

By Colin Lewis, Head of Technical Services, Fitzpatricks Private Wealth November 2018 Are you considering winding-up your SMSF? You may now be retired and wish to kick back with your super pension. Life is to be enjoyed and you don’t want the burden of running your own fund. Maybe you’re moving overseas and because of…
Colin Lewis

Caps on and caps off

By Colin Lewis, Head of Technical Services, Fitzpatricks Private Wealth September 2018 You’ve heard it time and time again – start putting something aside when you’re young and you’ll end up with more at retirement.  Unfortunately, many people only come to realise this or are only in a financial position to do something about it…


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