Category «Superannuation»

Splitting Super Contributions Between Spouses

Superannuation is always under attack, no matter which party holds government One thing is clear – you should always be on the lookout for strategies to prevent the consequences of changes that are certain to come in the future. One strategy is simple, legal, and highly effective -splitting your superannuation with your spouse. To be …

Inactive Funds and Insurance Cover

New superannuation laws take effect on 1 July, and they have huge implications for any of you who have life insurance inside your super fund. From that date superannuation funds will be prohibited from providing insurance cover to a member whose super account is inactive, unless that member elects to keep their cover. For the …

Labor’s intention to prevent workers making their own superannuation contributions

The election is getting close, and we are being bombarded with competing policies – Labor is pushing one which is indefensible. They intend to stop employees claiming a tax deduction for voluntary superannuation contributions. Until recently people were prohibited from claiming a tax deduction for additional personal concessional contributions if an employer was contributing for …

Avoiding the 17% Death Tax on Your Super

Recently I’ve received a number of emails asking about the death tax of 17 per cent on the taxable portion of a superannuation payout that is left to a non-dependant. In this context, a spouse is always a dependant, whether they are working or not. One way to lessen the death tax is to reduce …