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 …

Super Balances

Recently a reader emailed me as follows “My super balance Is $260,000 and my wife’s balance is $80,000. When I input our numbers into your Super Contributions Indexed calculator, (7% return, 2% salary increase) my potential balance is $2.7M and hers is $1.4M by the time we reach 65. Given that my balance should well …

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 …