Super ideas for managing volatility

By Colin Lewis, Head of Strategic Advice, Fitzpatricks Private Wealth November 2023 We live in turbulent times. It’s been a volatile time on the markets. The tax benefits of superannuation and the risk-mitigation and potentially cost-cutting benefits of ‘dollar cost averaging’ mean that sticking with a disciplined contributions strategy remains compelling even when investment markets are…

Super Tax Reform

By Colin Lewis, Head of Strategic Advice, Fitzpatricks Private Wealth October 2023 What you need to know about the proposed new tax on superannuation earnings Superannuation is the most tax-effective vehicle you can readily invest in. It stands head and shoulders above the next best tax structure, but this is about to change for the wealthy…

Account Based Pensions

By Colin Lewis, Head of Strategic Advice, Fitzpatricks Private Wealth September 2023 Ten things you need to know about account-based pensions If you’re retiring – or have suffered total and permanent disability – taking your super as an account-based pension could be one of the smartest things you do where you don’t need a lump sum…

Financial hardship

By Colin Lewis, Head of Strategic Advice, Fitzpatricks Private Wealth August 2023 Need your super to make ends meet? Cost-of-living pressures and financial stress could make dipping into your super tempting, especially where you have ‘control of the cheque book’ of an SMSF. If you’re thinking about pulling money out of your SMSF, don’t do it…

Planning for 2023-24

By Colin Lewis, Head of Strategic Advice, Fitzpatricks Private Wealth July 2023 Good financial planning is a year-round consideration, not just a 30 June event. With the new financial year under way, now is a good time to get your ‘financial house’ in order for 2023-24. So, what are the super opportunities this year? The pre-tax…

Tax Time

By Colin Lewis, Head of Strategic Advice, Fitzpatricks Private Wealth June 2023 Making a deductible superannuation contribution is a great way to reduce your tax bill whilst boosting your retirement savings. So, if you’re wanting to make a last-minute contribution to get a bigger deduction and tax saving, then you’d better snap to it as 30…

Federal Budget 2023-24

In recent years, Federal Budgets have been getting progressively leaner in terms of announcements of measures impacting personal financial planning. Unfortunately, this Budget is no different – in fact, this one takes the cake for being the leanest yet! Full report by Colin Lewis Head of Strategic Advice, Fitzpatricks Private Wealth.

Some important decisions with indexation imminent

By now you may be aware the general transfer balance cap (TBC) is increasing on 1 July by a whopping $200,000 from $1.7 million to $1.9 million due to inflation running so high. The TBC limits the amount you can move into the tax-free retirement phase, and it extends to death benefit income streams (DBIS).

Downsizer contributions

By Colin Lewis, Head of Strategic Advice, Fitzpatricks Private Wealth March 2023 Ensure you get it right when making a ‘downsizer contribution’. If you sell your home and are aged 55 or more, you can make a ‘downsizer contribution’ to super provided you meet the eligibility criteria. Prior to 1 January, you needed to have been…

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