Superannuation

  By Colin Lewis, Head of Technical Services, Fitzpatricks Private Wealth February 2020 Have you got what is known as a ‘grandfathered’ account-based pension (ABP) for social security/Department of Veterans’ Affairs (DVA) purposes and feel trapped because you’re locked-in and cannot change it? Maybe you’re wanting to switch super funds – even start or wind-up a…

By Olivia Long, on behalf of Firstlinks January 2020 The impact of Australia’s ongoing bushfire crisis is devastating. Not only are Australians losing their homes and entire belongings, but many are also hit by the loss of their business or means to generate an income. They may be in urgent need of cash as a…

By Colin Lewis December 2019 If you’re aged 65 or more and sell your home, you may be able to contribute some, or all, of the sale proceeds into superannuation.  Making what is known as a ‘downsizer contribution’ is an opportunity to top-up your super even if you’re normally ineligible to contribute due to your age,…

By Colin Lewis December 2019 The festive break is a good 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 plan for the new year. When it comes to the constantly changing superannuation environment, the last thing you want is to miss…

By Colin Lewis November 2019 There are many reasons for setting up a self-managed superannuation fund (SMSF). It could be the desire to take control of your super, or wanting to invest in something that can only be held in an SMSF, such as direct property – with the spotlight on investment diversification, more attention must…

By Colin Lewis October 2019 You are about to buy an investment property, or your business premises, and you’ve heard of the merits of structuring the purchase through a self-managed superannuation fund (SMSF). So, you’re looking to set one up thinking (naturally) that anyone can have an SMSF. Right? You might be surprised to find that…

By Colin Lewis, September 2019 Planning for the inevitability death – while morbid – is important. It gives you comfort knowing that what you’ve accumulated will go to your intended beneficiaries and it gives your loved ones, peace of mind knowing they’ll be looked after. On death, when it comes to your superannuation, only your…

By Matthew Collins, on behalf of Cufflinks, August 2019 For many years, superannuation has provided significant tax benefits for retirees. However, recent changes in legislation will limit the amount that can be placed into super, and investment returns may not be as good as in the past. As a result, future generations will pay more…

By Colin Lewis, August 2019 Back in November 2015, the then Treasurer Scott Morrison enunciated the view that “Super was never designed to be an open-ended vehicle for wealth creation.” So, we now have a superannuation system that is designed to limit how much can go into it and ensure that money in it must…