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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…
Colin Lewis

Super Death Benefits & Children

By Colin Lewis, Head of Technical Services, Fitzpatricks Private Wealth August 2018 Don’t forget the kids Most people are surprised to learn that superannuation is not an estate asset and is therefore not dealt with via your will, unless you specifically leave it to your legal personal representative – typically the executor of your estate.…
Colin Lewis

Protect your ‘grandfathered’ account-based pension

By Colin Lewis, Head of Technical Services, Fitzpatricks Private Wealth July 2018 The introduction of the $1.6 million transfer balance cap (TBC) – part of the superannuation reforms that came into effect from 1 July last year – was the catalyst for many people to review their estate plans. The TBC limits the amount you…
Colin Lewis

Managing your SMSF leading up to 30 June

By Colin Lewis May 2018 A self-managed super fund (SMSF) is one type of vehicle to manage your superannuation savings. So, the usual end-of-year super strategies, especially those relating to contributions and managing the contribution caps, apply equally across the spectrum of funds, e.g. public offer (retail) funds, industry funds, corporate funds, SMSFs etc. In…
Colin Lewis

Managing your tax and super leading up to 30 June

By Colin Lewis May 2018 With the end of the financial year fast approaching, it’s time to get your ‘financial house’ in order. There will be many ‘behind the scene’ strategies your adviser will be considering for you, but here are some of the more common year-end strategies they will be looking at. COMMON YEAR-END…


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