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Upcoming changes to Super contributions

Upcoming changes to Super contributions
Super Contributions – Know Your Limits!
It’s important to understand how the changes to super contributions limits may affect you for this year and the next. Some of these changes include:

A reduction in the amount of concessional contributions that you are able to make. Are you salary sacrificing into super? It’s […]

June 19th, 2017|Superannuation|Comments Off on Upcoming changes to Super contributions

Changes to super transfer balance caps from July 1

New Transfer Cap Limits May Affect You
From 1 July, the total amount that can be held within a superannuation pension account will be limited to $1.6 million.

Amounts in excess of this will need to either:

Move into an accumulation account,
Transfer between spouses where possible, or in some cases
Move out of the superannuation environment altogether.

Its important […]

June 19th, 2017|Superannuation|Comments Off on Changes to super transfer balance caps from July 1

SMSF housekeeping tasks to review before June 30

It’s important that, as SMSF Trustees, we have our ducks in a row both now and heading into the new financial year. Here is an important list of Trustee housekeeping tasks to review pre June 30.
Important tasks for SMSFs pre 30 June 2017
Meeting your minimum pension requirements
If your SMSF is in pension phase, please ensure your […]

June 19th, 2017|Superannuation|Comments Off on SMSF housekeeping tasks to review before June 30

Changes to Your Superfund Are Coming: Are You Ready?

Change can be scary, especially if you are not prepared for it. The Australian Government announced that there would be changes to the Superannuation system that will go into effect starting 1 July 2017. That date is fast approaching, which is why you need to learn more about these changes now and how they could […]

April 24th, 2017|Superannuation|Comments Off on Changes to Your Superfund Are Coming: Are You Ready?

Is Your Superfund Ethical?: Socially Conscious Financial Planning

When it comes to investments, you may think that the best thing to do is keep your options as open as possible and not disqualify any industry or company, even if you don’t agree with their business practices. No one wants to miss out on a great investment opportunity. You may be surprised to learn […]

April 17th, 2017|Superannuation|Comments Off on Is Your Superfund Ethical?: Socially Conscious Financial Planning

Can I Get a Loan Through My Super: A Quick Guide to Limited Recourse Borrowing

More Australians are turning to their Self-Managed Superannuation Funds as a financing option. According to statistics released by the Australian Taxation Office (ATO), lending through a Superfund has risen from $1.4 billion borrowed in June 2011 to over $21.8 billion by the same month in 2016. Is an SMSF loan a good choice for you?
What […]

April 10th, 2017|Superannuation|Comments Off on Can I Get a Loan Through My Super: A Quick Guide to Limited Recourse Borrowing

Bis Cosgrove: The Best Accountants Gold Coast Wide and So Much More

When you’re searching for the best accountants Gold Coast wide, you need someone who can do it all. Your financial status may shift over time. Your investment strategy will most likely change through the years as you grow older and your lifestyle evolves. The best way to approach each new chapter is with the help […]

March 13th, 2017|General, Superannuation|Comments Off on Bis Cosgrove: The Best Accountants Gold Coast Wide and So Much More

Understanding Super Contribution Taxes & Your Investment

Taxes are a part of superannuation planning. It’s important to understand how and when you will be taxed because this will affect the amount you save over the years. There is some confusion about why taxes are taken out when contributions are made. The first thing to understand is that, at some point, your super […]

February 13th, 2017|General, Superannuation|Comments Off on Understanding Super Contribution Taxes & Your Investment

Superannuation Planning for Your Age: Making the Most of Every Year You Have to Save

Age plays a big role in your superannuation planning. This is a long term investment that should be started as soon as possible to make it easier to reach your goals and live comfortably after retirement. While you may have other types of investments out there, you may be tempted to shift it all into […]

February 6th, 2017|General, Superannuation|Comments Off on Superannuation Planning for Your Age: Making the Most of Every Year You Have to Save

Why Your Superannuation Savings Goals Might Not Support Your Lifestyle

$1 million sounds like a lot of money. Imagine what you could do if a stranger gifted you that much cash today. While it might be an enormous windfall right now, when you’re talking about the future and retirement, suddenly $1 million doesn’t seem like such a large sum. Proper planning is essential to a […]

January 30th, 2017|General, Superannuation|Comments Off on Why Your Superannuation Savings Goals Might Not Support Your Lifestyle

Women and younger members are the big winners in the ATO’s latest SMSF data

The ATO has released new figures regarding Self Managed Super funds and the data brings with it some great news for women and younger SMSF members.

In the last 5 years, the savings of female Self Manage Super Fund members have grown at a much faster rate than men. This is great news in what has traditionally […]

January 10th, 2017|General, Superannuation|Comments Off on Women and younger members are the big winners in the ATO’s latest SMSF data

The Difference Between Self-Managed Super Funds and Regular Trusts

If you are thinking about saving for retirement, one of your best options is a self-managed super fund. This is a retirement account that you manage on your own, and that is set up to benefit you (or possibly your dependents) in the event of your retirement. Although this is a great way to save […]

October 3rd, 2016|General, Superannuation|Comments Off on The Difference Between Self-Managed Super Funds and Regular Trusts

Do you own some of the $42bn worth of lost super?

A report by Westpac on the lost retirement savings of Australians has found that there are more than $13.5 billion worth of lost superannuation and that if all of it was to be claimed, that by retirement, it could be worth up to $42.4 billion extra in savings.

All up, there are more than 1.3 million […]

June 27th, 2016|Superannuation|Comments Off on Do you own some of the $42bn worth of lost super?

What will the prospective $500,000 lifetime cap on Non-concessional super contributions mean for you?

In the recently announced Budget for 2016-17 (which we wrote a blog post on here), the government included changes to the cap on Non-concessional Super Contributions (NCCs). In particular, we are referring to the reduction of the cap to just $500,000 over the lifetime of the fund. These contributions will be measured from 1st July […]

May 30th, 2016|General, Superannuation|Comments Off on What will the prospective $500,000 lifetime cap on Non-concessional super contributions mean for you?

Things to consider before starting a Self Managed Super Fund

Taking control of your financial future and starting a Self Managed Super Fund can can offer a lot of benefits but they can involve the investment of a great deal of your time and effort and there ar a few things you need to be aware of before you get started.
Benefits of a Self Managed Super Fund
Some […]

May 9th, 2016|Superannuation|Comments Off on Things to consider before starting a Self Managed Super Fund

Can you use your Self Managed Super Fund to invest in property?

Yes! You absolutely can use a Self Managed Super Fund to buy property, however, there are conditions.

You must keep in mind that your Self Managed Super Fund is intended for your retirement. This means that any investments you make must align with your fund’s investment strategy.
What sort of property can you buy with a Self […]

May 2nd, 2016|General, Superannuation|Comments Off on Can you use your Self Managed Super Fund to invest in property?

You’re probably going to spend more during retirement than you think!

It is generally agreed among finance experts that the average person will require about 70% of their regular income for a comfortable lifestyle after retirement.

Some of the reasons for this are:

Decreased costs associated with being in the workforce ie. commuting
Most people have payed off their home loans by the time they reach retirement so they […]

March 22nd, 2016|Superannuation|Comments Off on You’re probably going to spend more during retirement than you think!

Renee In The Bulletin This Week

 
Feature In The Gold Coast Bulletin
On Monday Renee was featured in the business section of the Gold Coast Bulletin. The article highlights the growing trend of  young women choosing SMSF’s in Australia.
Renee is one of our specialist SMSF advisors at BIS Cosgrove. She’s extremely passionate about empowering women to take control of their super.

 

If you’d […]

February 17th, 2016|Superannuation|Comments Off on Renee In The Bulletin This Week

A Statistical Overview of SMSF 2013 – 14

Statistical Overview 2013-14
The Australian Tax Office has released it’s latest statistics  on the Self Managed Super Fund sector with an overview of 2013-2014 and September 2015.
Key Highlights

SMSFs account for 99.5 per cent of all superannuation funds and 29 per cent of the $2 trillion in total superannuation assets in Australia.
Between the years ended 30 June […]

February 16th, 2016|Superannuation|Comments Off on A Statistical Overview of SMSF 2013 – 14