Superannuation

By Colin Lewis, Head of Strategic Advice, Fitzpatricks Private Wealth September 2022 The superannuation system is designed to prevent the creation of ‘family dynasties’ with super. Contribution caps and the total superannuation balance test (TSB) restricting certain types of contributions limit how much can go into it. The system also ensures that benefits in it ultimately…

By Colin Lewis, Head of Strategic Advice, Fitzpatricks Private Wealth August 2022 We live in turbulent times. The first half of 2022 was a roller coaster ride on the markets with the big dipper being in June. Since then, the markets have recovered which highlights the fact you should never throw logic out the window when…

By Colin Lewis, Head of Strategic Advice, Fitzpatricks Private Wealth August 2022 Directors of Australian companies are now required to have a Director Identification Number (DIN). The introduction of DINs is part of the Government’s Digital Business Plan – which is part of its Modernising Business Registers program rollout. The aim is to prevent the use…

By Graham Hand, on behalf of Firstlinks July 2022 Coinciding with 30 years of compulsory superannuation, the start of a new financial year and the introduction of the Retirement Income Covenant, we surveyed our readers to find out how they spend their retirement. As the survey was limited to retirees, the response from about 700 readers…

By Colin Lewis, Head of Strategic Advice, Fitzpatricks Private Wealth July 2022 It may seem untimely having just got over the 30 June hurdle to be thinking about your finances again so soon, but with the new financial year under way, now really is a good time to ensure your ‘financial house’ is sorted for 2022-23.…

By Colin Lewis, Head of Strategic Advice, Fitzpatricks Private Wealth June 2022 With the finish line to the end of the financial year practically upon us, you may be considering a last-minute super contribution to reduce tax and/or to bolster your retirement nest egg. Working out how much you can contribute should be simple … right?…

By Asaf Cohen and Terry Rawnsley, on behalf of Firstlinks May 2022 Meeting the changing needs of older people in terms of housing, support services and work arrangements is a significant challenge facing Australia. Demographers, economists and policy makers are increasingly concerned about the ageing population and the increasing number of people aged over 45 who…

By Colin Lewis, Head of Strategic Advice, Fitzpatricks Private Wealth May 2022 With only a month to 30 June, it’s time to consider a contribution to super to reduce your tax bill whilst boosting your retirement savings. If you have unusually high income this year – say because you’ve made a capital gain from selling an…

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…