The Government’s 2018 Budget proposal to allow Self Managed Superannuation Funds (SMSFs) to have up to 6 members has now been finally passed by both the House of Representatives and the Senate.
superannuation
The impact of transfer balance cap indexation
Starting 1 July 2021, the transfer balance cap (“TBC”) will be indexed from $1.6 million to $1.7 million (“Indexed TBC”). Although this change sounds like good news, it does come with quirks not everyone is aware of and not knowing them can lead to adverse outcomes.
Federal Budget 2021 – Super Changes
The 2021 Budget can be summarised in one line – as a great budget for superannuation. The Budget sets out major beneficial changes for superannuation covering both contributions, legacy superannuation products, first home super saver scheme and residency issues for SMSFs.
Make the most of super strategies before 30 June 2021
In the world of superannuation, a few key changes have taken place over the past month that will impact superannuation strategies in the lead up to 30 June 2021 and beyond.
A philosophy to help build wealth
Imagine what would happen if you started to build a house with no plans? The wrong amount of concrete may be ordered for the foundations. The Foundations may not match how big you want the house to be. Ultimately, the building may not be able to support the roof and that whole house will fall down.
We need to support women to build superannuation, not deplete it
What can women do to help prepare for their own financial future? These are some quick tips women can consider helping build their future savings for retirement.
The 6-member super fund is for more than just big families
Jumbo funds may open the opportunity for self-managed super to be seen more as an asset holding structure rather than simply a tool for families.
Pension Boost questions Income Review report outcomes
The founder of a retirement specialist that assist seniors to access the Government’s reverse mortgage solution (known as the Pension Loan Scheme) hopes that the Retirement Income Review leads to more help for struggling retirees.