SMSF – What’s the Good News?

Both 2017 and 2018 certainly gave SMSF Trustees cause for concern, from both a strategy and an investment perspective. A volatile political environment coupled with equally volatile investment markets in the closing weeks of 2018 have certainly provided us with some interesting times. For many self-funded retirees, the $1.6 million transfer balance cap was a [...]

2019-03-04T17:13:19+10:00Superannuation|

Retirement – Are You Ready?

An incredible seminar on the ins and outs of RETIREMENT presented by BIS Cosgrove, hosted by Barry LaValley. In this segment Barry focuses on preparing your mind for retirement and helps you understand the retirement psychology, retirement health, retirement relationships and the role that money plays in retirement planning. Watch the video now! [...]

End of Financial Year – Tax Saving Strategies

Top up Concessional Contributions to Super Did you know the 2018 financial year has a new TAX DEDUCTION?! This is the first there are NO RULES to stop you from claiming a tax deduction on the difference between $25,000 and the amount your employer has contributed to your super as part of the Superannuation Guarantee [...]

2019-03-04T17:13:20+10:00Superannuation, Taxation|

BIS Cosgrove: The Best Accountants Gold Coast Wide

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 [...]

2019-03-04T17:13:20+10:00General, Superannuation|

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 [...]

2019-03-04T17:13:20+10:00Superannuation|

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 [...]

2019-03-04T17:13:20+10:00Superannuation|

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, [...]

2019-03-04T17:13:20+10:00Superannuation|

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 [...]

2019-03-04T17:13:22+10:00Superannuation|

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 [...]

2019-03-04T17:13:22+10:00Superannuation|

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? [...]

2019-03-04T17:13:22+10:00Superannuation|

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 [...]

2019-03-04T17:13:23+10:00General, Superannuation|

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 [...]

2019-03-04T17:13:23+10:00General, Superannuation|

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 [...]

2019-03-04T17:13:23+10:00General, Superannuation|

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 [...]

2019-03-04T17:13:23+10:00General, Superannuation|

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 [...]

2019-03-04T17:13:24+10:00Superannuation|

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 [...]

2019-03-04T17:13:24+10:00General, Superannuation|

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 [...]

2019-03-04T17:13:24+10:00Superannuation|

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 [...]

2019-03-04T17:13:24+10:00General, Superannuation|

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 [...]

2019-03-04T17:13:24+10:00Superannuation|

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 [...]

2019-03-04T17:13:24+10:00Superannuation|

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 [...]

2019-03-04T17:13:24+10:00Superannuation|