Younger generations now have longer to wait for their superannuation as the preservation age has risen to 60 and is mooted to rise further.
As a long-term growth investment, under a tax-effective product structure, insurance bonds are ideal for many life-event, financial, tax and estate planning objectives.
Earnings taxed within an Insurance Bond are capped at 30% with franking credits and other deductions reducing rates to sub 30% for many portfolios. Personal marginal tax rates are not applied and potential tax bracket creep is eliminated.
Bond pays tax internally – No tax returns needed by Bond Owners
The Insurance Bonds pays tax internally each year and the bond owner does not have to include details in his or her tax return at any time unless making a withdrawal prior to the bond reaching its 10 year point.
Media enquiries:
Richard Atkinson
Head of IFA Product and Relationships
Austock Life Limited
t: 03 8601 2095
m: 0417 541 897
RAtkinson@austock.com
www.austock.com