Tag Archives: Super

Tax deductions for personal super contributions

Do you make personal superannuation contributions and wish to claim them as a tax deduction? If you wish to claim a tax deduction for personal superannuation contributions made in the 2017 financial year, you need to lodge a Notice of Intent to Claim Tax Deduction form with the relevant superannuation fund/s prior...

Women get frank about finance

More than half of Australian women feel in control of their finances, but many are concerned about their savings and are missing out on valuable opportunities to boost their superannuation, according to new research released by MLC. The all-female study revealed just 57% of women across the country feel in...

Smart super strategies for this EOFY

Want to help boost your retirement savings while potentially saving on tax? Here are five smart super strategies to consider before the end of the financial year. 1.   Add to your super – and claim a tax deduction This financial year, there are new rules about who can claim a...

Your super and tax: what’s new in 2018?

Super and tax rules are always changing – providing fresh opportunities to help maximise your retirement savings. Here are two new ways you may be able to help boost your super, as well as your tax return. Good news for employees Before 1 July 2017, you could only claim a...

Salary sacrifice super contributions

As the year draws to a close, it’s worth checking whether you are making the most of your ability to make regular salary-sacrificed super contributions. If your salary-sacrificing contributions are lagging, think about stepping up your contributions for the remaining nine months of the financial year. Your ability to step...

McKillop FP newsletter – October 2017

McKillop Financial Planning‘s October 2017 newsletter – CLICK HERE Articles on: • Salary sacrificing superannuation • Should you downsize? • Why grey mortgage debt is rising • Life’s financial turning points: good and not so good • How jury service works  ...

McKillop FP newsletter – September 2017

McKillop Financial Planning‘s September newsletter CLICK HERE  Articles on: superannuation for young people, global shares as part of your investment portfolio, the $1 million #retirement myth and an MLC August economic update  ...

Claiming tax deductions for super contributions

Do you make personal superannuation contributions and want to claim them as a tax deduction? Following the close of the 2017 financial year, it is important to ensure that if you wish to claim a tax deduction for personal superannuation contributions made in the 2017 financial year, you lodge a Notice...

ASIC holds $1.1 billion in unclaimed super money

‘Unclaimed money’ is money from dormant bank accounts, unclaimed life insurance policy payouts and money from shares and other investments that people have not been collected from companies. Unclaimed money is transferred to the Commonwealth after it’s been unclaimed usually for 7 years. People may find they have unclaimed money...

Make the most of this financial year’s super caps

Building your retirement nest egg? Make your contributions before the end of the financial year and you could potentially save more. Changes to super laws mean that from 1 July 2017, the amount of money you can contribute to your super is being reduced. So it makes sense to take...

Death Benefit Nominations for your super

Did you know that on your death, your superannuation balance will not dealt with in accordance with your wishes unless you have a valid beneficiary death benefit nomination in place. That’s right, your Will probably doesn’t have any effect as regards your super. The trustees of most super funds have...

Proposed reforms to superannuation

Proposed reforms to superannuation Here is a useful infographic summarizing the key proposals for super reform – changes to before-tax contribution caps, changes to concessional contributions tax and concessional contribution caps and pension limits… Note that the proposals are not law yet and they vary from those proposed in the...

Pre-retirees are topping up their superannuation

PRE-RETIREES ARE TOPPING UP THEIR SUPERANNUATION Almost one-third of Australians topped up their super in the last 12 months, contributing additional funds over and above employer contributions, according to MLC’s Australia Today report (August 2016). It’s a positive sign that Australians are taking proactive steps to plan for a comfortable retirement lifestyle,...