RETIREMENT. Home Insurance. Get on the TTR track How to transition to retirement tax-effectively
|
|
- Terence Gregory
- 7 years ago
- Views:
Transcription
1 RETIREMENT Home Insurance Get on the TTR track How to transition to retirement tax-effectively
2 Everyone s idea of the perfect retirement lifestyle is different. But whatever your goals, you want to make the transition to retirement on your own terms. A transition to retirement (TTR) pension allows you to access some of your superannuation while you re still working. This opens up a range of possibilities to boost your income, your lifestyle and even your super in the countdown to retirement. If you ve reached preservation age (55 60, depending on your date of birth) and still working, you re eligible to join the TTR track. And with the help of your financial adviser, the first step starts here. ANZ Wealth is a specialist division of ANZ that delivers a range of insurance, superannuation and investment solutions through award-winning brands, including OnePath. We believe quality financial advice is crucial to helping Australians achieve their life goals. Our range of wealth solutions is designed to support your advice strategies making it easier for you to find the solution that best suits your clients needs. ANZ operates in 33 markets globally with representation in Australia, New Zealand, Asia Pacific, Europe, America and the Middle East. ANZ provides products and services to more than 8 million retail customers worldwide and employs over 47,000 people. About OnePath At ANZ we value and appreciate our financial adviser partnerships, customers and the communities OnePath Australia offers a complete range of financial products and services. OneAnswer we operate in. We are committed to acting with the highest standards and to meeting our corporate and responsibilities. PortfolioOne ANZ allow has a strong you to involvement easily diversify in the your community, clients leading investment, the way across with programs a range of funds. targeting OneCare financial offers literacy, an indigenous innovative inclusion, life risk the range environment, to suit your volunteering clients insurance and sponsorship. needs, and our Integra Super and Corporate Super solutions are consistently ranked as one of the best ANZ actively participates in forums looking at regulatory and industry change. We also regularly review employer super products and conduct research to ensure we are attuned to changing adviser, customer and market needs. in the marketplace. OnePath Group is a global financial services company providing banking, investments, life insurance and retirement services to more than 85 million customers in 50 countries around the world.
3 What is transition to retirement? Transition to retirement rules allow working Australians who have reached their preservation age (55 60, depending on your date of birth) access to their superannuation while they are still working. This means that if you are approaching retirement you could reduce your work hours, and supplement your reduced employment income with income from your super. However, there is no requirement to actually reduce your working hours to start a TTR pension. This opens the door on some other tax-effective strategies, even if you re still working full-time. What are the strategies? 1. Lifestyle Booster Reduce your work, not your income A TTR pension can help you reduce your working hours while maintaining the same income. And because some of your income is coming from the TTR pension, you can manage tax payable on your income more effectively. 2. Super Booster Grow your super tax effectively It may sound hard to believe, but drawing a TTR pension while you re still working full-time can actually help you boost your super savings, without reducing your after-tax income. 3. Income Booster Top-up your income using super If you have sufficient retirement savings, you can use a transition to retirement pension while you are working full-time to boost your income today. The increased income can be put to work to reduce your debt, or fund projects such as home improvements. The key rules TTR pensions can only be started by people who have reached superannuation preservation age (55 60, depending on your date of birth). Must be set up using superannuation money. Pension payments capped at a maximum of 10% p.a. usually until the earlier of retirement or attaining age 65. Lump sum withdrawals are generally not allowed. Same taxation and social security implications as standard account-based pensions. 3
4 How do the benefits work? There are two key advantages associated with setting up a TTR pension: 1. You can reduce the tax you pay on your income TTR strategies often involve contributing part of your before-tax income into super. When you do this, you generally pay 15% tax on your contributions (up to certain limits)*. This compares to your marginal tax rate if you took this money as cash, which may be as high as 49%. Often the income you draw from a TTR pension is more tax-effective than your regular income. How much more effective depends on your age: 2. You can effectively manage the tax you pay on your investment earnings When you invest inside super, you generally only pay 15% tax on investment earnings compared to your marginal tax rate of up to 49% if you were investing outside super. After you turn your super account into a pension account, all related investment earnings are generally exempt from tax within the super fund. Information contained in this brochure relates to taxed super schemes. * Additional 15% tax may apply if your assessed income is over $300,000. If you re less than 60 years of age, part of the income you receive from super is taxed at your marginal tax rate. However you generally receive a 15% tax offset in your income tax return each year. After age 60, the income you receive from super is generally tax-free. 4
5 Know your limits If your TTR strategy involves making additional before-tax super contributions, you need to be aware of your concessional contributions cap as you may be penalised if you exceed this limit. In 2015/16, the concessional contributions cap is $30,000 and $35,000 for people aged at least 50 by 30 June This cap includes your employer s Superannuation Guarantee contributions, any salary sacrifice into super, or any personal super contributions. 5
6 Case study 1 Lifestyle Booster Janet, aged 58, is a retail assistant receiving a salary of $50,000 p.a. She has a fully preserved super account balance of $240,000 invested in a balanced investment option that has historically earned 5% p.a. (70% taxable component and 30% tax-free component) and plans to fully retire from the workforce at age 65. Her daughter has recently given birth to her first child and Janet is looking to reduce her work hours so she can help care for her grandchild when her daughter returns to work. Janet hopes to continue working three days a week, earning $30,000 p.a. However, she is concerned about meeting her living expenses if she reduces her working hours. After accounting for taxes and Medicare levy, her annual disposable income is $41,453. The strategy By commencing a TTR pension, Janet can still receive the equivalent take-home income as when she worked full time, despite reducing her work hours. Currently Janet s after-tax income is $41,453 on her $50,000 annual salary. Using a TTR strategy that supplements Janet s reduced salary of $30,000 with a TTR pension payment amount of $15,006 p.a., she can still maintain the same disposable income. It is important to be aware that drawing down superannuation benefits to supplement income can result in less superannuation in retirement. This is something that Janet must consider when deciding to reduce her work hours. Janet s income overview year one Current position ($) With TTR strategy ($) Salary 50,000 30,000 TTR pension (taxable) 0 10,504 TTR pension (tax free) 0 4,502 Total income 50,000 45,006 Gross PAYG tax (7,797) (4,711) Low income tax offset % pension tax offset 0 1,576 Medicare levy (1,000) (810) Net tax and Medicare levy (8,047) (3,053) After-tax income 41,453 41,453 Assumption: Janet s super account balance of $240,000 is comprised of a 70% taxable component and 30% tax-free component. This case study is used for illustrative purposes only. Assume investment returns of 5%. 6
7 Case study 2 Super Booster Roger, aged 56, is an engineer whose only income is a salary of $90,000 p.a. He enjoys his job and has no immediate plans to reduce his working hours. However, he believes age 65 would be a good time to retire from the workforce. Roger has a super account balance of $325,000 (all taxable component and fully preserved) invested in a balanced option that has historically earned 7% p.a. He has heard about the transition to retirement rules and is interested to find out how he can benefit. The strategy Roger s financial adviser suggests that he consider implementing a TTR strategy which requires him to salary sacrifice a significant portion of his pre-tax salary into his super account. However, Roger is concerned as he does not want to change his lifestyle or reduce his disposable income. Roger currently earns $90,000 in gross income, which provides him with a take home pay of $66,953. His financial adviser explains that if he salary sacrifices $26,450 p.a. from his salary into super, he will still receive $63,550 p.a. in gross income from his employer. He then explains that he can supplement his reduced income with pension payments of $21,230 p.a. from a TTR pension to be established with his existing super savings. This will mean that Roger s after-tax income will remain unchanged at $66,953. Roger s income overview year one Current position ($) With TTR strategy ($) Original salary 90,000 90,000 Salary sacrifice super contribution 0 (26,450) Cash salary 90,000 63,550 TTR pension (taxable) 0 21,230 Total income 90,000 84,780 Gross PAYG Tax (21,247) (19,316) 15% pension tax offset 0 3,185 Medicare levy (1,800) (1,696) Net tax and Medicare levy (23,047) (17,827) After-tax income 66,953 66,953 Assumptions: The Superannuation Guarantee is 9.5% of the original earnings base. No taxation deductions have been claimed. Qualifying private hospital cover is in place. This case study is for illustrative purposes only and figures relate to the 2015/16 financial year. 7
8 Case study 3 Income Booster Patrick, aged 60, is a telecommunications technician who derives a salary of $75,000 p.a. and has a super account balance of $400,000 invested in a balanced investment option that has historically earned 7% p.a. He currently plans on retiring at age 65. After accounting for taxes and Medicare levy, Patrick s existing take-home pay is $57,578. Patrick is happy with his current level of retirement savings. However, Patrick is looking at increasing his annual disposable income to $62,000. The strategy Patrick consults his financial adviser who explains that transition to retirement rules allow individuals who have reached preservation age (55 60, depending on date of birth) His financial adviser explains that he will need to use the money in his existing super account to open a TTR pension and that he can withdraw up to a maximum of 10% p.a. from the TTR pension account balance. As Patrick has reached the age of 60, his financial adviser informs him that pension payments received from his TTR pension will be tax free. His financial adviser suggests Patrick salary sacrifice $27,875 into super and draw an income of $22,387 p.a. from his TTR pension. The following table shows Patrick s change in cash flow position before and after implementing a TTR strategy. Patrick s income overview year one Current position ($) With TTR strategy ($) Original salary 75,000 75,000 Salary sacrifice super contribution 0 (27,875) Cash salary 75,000 47,125 TTR pension (tax free) 0 22,387 Total income 75,000 69,512 Gross PAYG tax (15,922) (6,863) Low income tax offset Medicare levy (1,500) (943) Net tax and Medicare levy (17,422) (7,513) After-tax income 57,578 62,000 8 Assumptions: This case study is for illustrative purposes only. The Superannuation Guarantee is 9.5% of original earnings base. No tax deductions have been claimed. Assumes historical earning rate maintained. Figures relate to the 2015/16 financial year.
9 Patrick s strategy would increase his disposable income in the first year, whilst also boosting his retirement savings. 9
10 Do you want to retire with a better future? A transition to retirement strategy could help you reach your financial goals. Contact your financial adviser to find out how. 10
11 11
12 Customer Services Phone Postal Address OneAnswer GPO Box 5306 Sydney NSW 2001 Website onepath.com.au OnePath Custodians Pty Limited ABN AFSL OnePath Custodians Pty Limited (ABN , AFSL ) is the issuer of this brochure. This information is current at January 2016 but may be subject to change. Updated information will be available free of charge by contacting Customer Services. The information provided is of a general nature and does not take into account your personal needs, financial circumstances or objectives. The case studies are hypothetical and are not meant to illustrate the circumstances of any particular individual. Before acting on this information, you should consider the appropriateness of the information, having regard to your needs, financial circumstances and objectives. You should read the relevant PDS available at onepath.com.au/member and consider whether that product is right for you before making a decision to acquire or continue to hold the product. The information in this brochure has been prepared as a guide only and does not represent tax advice. Please see your adviser for advice taking into account your individual circumstances. L3222/0116 onepath.com.au
RETIREMENT. Home Insurance. Get on the TTR track How to transition to retirement tax-effectively
RETIREMENT Home Insurance Get on the TTR track How to transition to retirement tax-effectively Everyone s idea of the perfect retirement lifestyle is different. But whatever your goals, you want to make
More informationRETIREMENT. Transition to retirement
RETIREMENT Transition to retirement OneAnswer offers you the opportunity to ease into retirement using a transition to retirement pension, which allows you to maintain your current level of income whilst
More informationPut your clients on the TTR track
RETIREMENT November 2012 Put your clients on the TTR track Adviser guide to transition to retirement strategies About OnePath OnePath is one of Australia s leading providers of wealth, insurance and advice
More informationSUPERANNUATION. Home Insurance. Super fundamentals. Foundations for your future
SUPERANNUATION Home Insurance Super fundamentals Foundations for your future As one of your most important financial investments, it s worth understanding how superannuation works. For many Australians,
More informationInvestment. A guide to investment bonds
Investment A guide to investment bonds Investment bonds represent an opportunity to build wealth in a unique tax environment. * Here is a brief explanation of how investment bonds work. About OnePath OnePath
More informationRetirement Pearls of Wisdom. Wealth for Women from ANZ Financial Planning
Retirement Pearls of Wisdom Wealth for Women from ANZ Financial Planning Pearls Of Wisdom Women s wealth Women are extraordinary. For the past few decades women have been able to earn increasingly higher
More informationSUPERANNUATION. Home Insurance. Super fundamentals. Foundations for your future
SUPERANNUATION Home Insurance Super fundamentals Foundations for your future As one of your most important financial investments, it s worth understanding how superannuation works. For many Australians,
More informationHome Insurance OneAnswer
Home Insurance OneAnswer Reach your financial goals sooner About OnePath OnePath is one of Australia s leading providers of wealth, insurance and advice solutions. We have been helping Australians grow
More informationRetirement made easy. Helping you achieve your retirement goals. rest.com.au/restpension 1300 305 778
Retirement made easy Helping you achieve your retirement goals rest.com.au/restpension 1300 305 778 Helping you achieve your retirement goals As you near retirement you probably have a number of questions
More informationRetirement made easy. Helping you achieve your retirement goals. rest.com.au/restpension 1300 305 778
Retirement made easy Helping you achieve your retirement goals rest.com.au/restpension 1300 305 778 Helping you achieve your retirement goals As you near retirement you probably have a number of questions
More informationSUPERANNUATION Retirement fundamentals
SUPERANNUATION Retirement fundamentals Your guide to retirement You ve been working hard to accumulate your superannuation, and now you re nearing the next stage of your life retirement. So what do you
More informationTransition to retirement. Getting ready for retirement
Transition to retirement Getting ready for retirement The changing face of retirement Retirement used to represent a sharp break with the past one day you were working full-time, the next you were sitting
More informationCLIENT FACT SHEET. If you are under age 65 you may make personal contributions to superannuation on your own behalf.
CLIENT FACT SHEET July 2010 Understanding superannuation and superannuation contributions Superannuation is an investment vehicle designed to assist Australians in saving for their retirement. The Government
More informationLump Sum My Retirement
Lump Sum My Retirement General advice warning The schemes administered by Super SA are exempt public sector schemes and therefore we are not required to hold an Australian Financial Services licence to
More informationRETIREMENT PLANNING. Your guide to I VE BEEN TRANSITIONING TO RETIREMENT FOR FOUR YEARS. IT GIVES ME TAX SAVINGS AND ACCESS TO EXTRA CASH.
Your guide to RETIREMENT PLANNING I VE BEEN TRANSITIONING TO RETIREMENT FOR FOUR YEARS. IT GIVES ME TAX SAVINGS AND ACCESS TO EXTRA CASH. DANIEL CLIFFORD, COMBINED SUPER MEMBER Contents > Plan your retirement
More informationUnderstanding Superannuation
Understanding Superannuation Client Fact Sheet July 2012 Superannuation is an investment vehicle designed to assist Australians save for retirement. The Federal Government encourages saving through superannuation
More informationINSURANCE Life insurance through superannuation
INSURANCE Life insurance through superannuation Annual Report 1 July 2013 to 30 June 2014 Issued December 2014 Contents Annual Report About OnePath 2 OnePath MasterFund 3 About this Annual Report 3 Abridged
More informationUnderstanding superannuation Version 5.0
Understanding superannuation Version 5.0 This document provides some additional information to help you understand the financial planning concepts discussed in the SOA in relation to superannuation. This
More informationTaking the mystery out of salary sacrifice
Hostplus Salary Sacrifice August 2015 Taking the mystery out of salary sacrifice Learn how you can pay less tax, get more super and make a big difference to your future Welcome Thinking about how you can
More informationMaking the Most of Your Super
Making the Most of Your Super For many people, super is one of the best ways to accumulate wealth. The Government provides tax benefits to encourage people to fund their own retirement. With more Australians
More informationAdviser Tax Guide ONECARE 1 JULY 2014 ANZ WEALTH
Adviser Tax Guide ONECARE 1 JULY 2014 ANZ WEALTH This guide is current at 1 July 2014 and is subject to change. Updated information will be available free of charge from onepath.com.au or by calling 1800
More informationSuper income stream strategies webinar
Super income stream strategies webinar Presented by: Brett Ricchini, Financial Advisor, 2 December 2014 Create your retirement plan Maximise your Super Income Stream to fund your future lifestyle aspirations
More informationyour making your retirement goals a reality Retirement Guide
making your retirement goals a reality your Retirement Guide CARE Super Pty Ltd (Trustee) ABN 91 006 670 060 AFSL 235226 CARE Super (Fund) ABN 98 172 275 725 your retirement is in your hands It can be
More informationOneAnswer Personal Super and Pension. Additional Information Guide
OneAnswer Personal Super and Pension Additional Information Guide 27 February 2012 Entity details in this guide Name of legal entity Registered numbers Abbreviated terms used throughout the PDS OnePath
More informationContributions are taxed differently depending on whether you are making contributions to a taxed or untaxed fund.
Tax and super Issue Date: 1 July 2015 SUP E R ANNUATION The information in this document forms part of the Product Information Booklets for GESB Super and West State Super, each dated 1 July 2015. You
More informationSome proven financial advice strategies
Some proven financial advice strategies There are numerous key financial advice strategies that may put you on the road to achieving your financial goals Debt Management Debt consolidation can lower repayments
More informationADVISER USE ONLY. Dominion insurance solutions
ADVISER USE ONLY Dominion insurance solutions About Dominion your leading platform solution The Dominion wrap platform is a comprehensive wrap administration service across superannuation, retirement and
More informationRetirement Income Allocated Pension
Retirement Income Allocated Pension Information sheet S U P E R A N N U AT I O N This information sheet is intended to provide an overview of the key features and benefits of the Retirement Income Allocated
More informationIssued September 2015. Salary Sacrifice. Salary Sacrifice. Grow your super. and pay less tax
Issued 12 Salary December 10 Sacrifice Salary Sacrifice Issued September 2015 Grow your super and pay less tax What is salary sacrifice? Salary sacrifice is an arrangement with your employer to pay part
More informationHow super is taxed. VicSuper FutureSaver Member Guide
How super is taxed VicSuper FutureSaver Member Guide Date prepared 1 July 2015 The information in this document forms part of the VicSuper FutureSaver Product Disclosure Statement (PDS) dated 1 July 2015.
More informationPlanning for retirement
Planning for retirement 1 Disclaimer This presentation contains general advice current as at April 2016 and has been prepared without taking account of your objectives, financial situation or needs. Before
More informationBuilding and protecting your wealth the tax effective way
Building and protecting your wealth the tax effective way Strategies guide 2014/2015 The lead up to End of Financial Year (EOFY) provides a good opportunity to review your wealth creation plans. At this
More informationTax and your CSS benefit
CSF27 04/12 Tax and your CSS benefit Who should read this? All contributing CSS members. What is in this fact sheet? > > What should I know up front? > > My benefits in the CSS > > How are contributions
More informationReliance Super. Taxation Supplement. 14 March 2014. a membership category of Maritime Super
Taxation Supplement 14 March 2014 Contents Tax on contributions 2 Tax on rollovers 3 Tax on investment earnings 3 Tax on super benefits 3 Spouse tax offset 7 Tax deductions for the self-employed 7 Low
More informationHOSTPLUS Superannuation Fund and HOSTPLUS Personal Super Plan Member Guide. Everything you need to get the most from your super.
Everything you need to get the most from your super Product Disclosure Statement 31 October 2011 Issued by Host-Plus Pty Limited ABN 79 008 634 704, AFSL No. 244392 as trustee for the HOSTPLUS Superannuation
More informationContributing to your super
SUP E R ANNUATION Contributing to your super GESB Super and West State Super ISSUE DATE: 1 July 2015 PREPARATION DATE: 26 June 2015 Government Employees Superannuation Board ABN 43 418 292 917 Contents
More informationSmart strategies for maximising retirement income 2012/13
Smart strategies for maximising retirement income 2012/13 Why you need to create a life long income Australia has one of the highest life expectancies in the world and the average retirement length has
More informationThe sooner you start thinking about growing your super, the better. But it s never too late.
> Get calculating! If you d like to see the effect that personal contributions may have on your final entitlement, access the Super SA Benefit Projector on the Super SA website www.supersa.sa.gov.au. The
More informationHome Insurance Take control of your future
Home Insurance Take control of your future Smart financial strategies for women OnePath committed to financial equality Australian girls excel at primary school, high school and university, but as they
More informationgrow your super Seven ways to Some handy hints to help you grow your super investments December 2014 Now incorporating Find out how you can:
Find out how you can: Make regular personal contributions a small amount can make all the difference. Salary sacrifice your contributions and reduce your tax at the same time. Seven ways to grow your super
More informationGeneral reference guide
General reference guide (TPS.01) Issued: 1 July 2015 The Portfolio Service Super Essentials The Portfolio Service Superannuation Plan The Portfolio Service Retirement Income Plan This guide contains important
More informationThe benefits of insuring through super. Macquarie Life
The benefits of insuring through super Macquarie Life While your clients are accumulating wealth, they also need to ensure adequate insurance cover is in place so they and their families are looked after
More informationSuper Spouse Accounts - A member Perspective
Current Issues in Superannuation A member perspective This presentation has been prepared without taking into account any of your objectives, financial situation or needs. You must therefore assess whether
More informationBT Super for Life. Product Disclosure Statement (PDS) Contents. Dated 1 July 2014
Contents BT Super for Life Product Disclosure Statement (PDS) Dated 1 July 2014 1. About BT Super for Life 2 2. How super works 2 3. Benefits of investing with BT Super for Life 3 4. Risks of super 5 5.
More informationProduct Disclosure Statement
AMP Retirement Savings Account Product Disclosure Statement Contents 1. About AMP Retirement Savings Account 2. How super works 3. Benefits of investing with AMP Retirement Savings Account 4. Risks of
More informationSUMMARY OF RATES AND THRESHOLDS 2015/16
SUMMARY OF RATES AND THRESHOLDS 2015/16 CONTENTS Superannuation rates and thresholds Concessional contributions Non-concessional contributions Capital Gains Tax (CGT) cap amount Untaxed plan cap amount
More informationSuper taxes, caps, payments, thresholds and rebates
Fact Sheet Super taxes, caps, payments, thresholds and rebates This fact sheet provides a useful one-stop reference guide to the tax rates, caps, thresholds and rebates that apply or are related to superannuation
More informationThinking about retirement. A guide to help you plan and fund your retirement lifestyle
Thinking about retirement A guide to help you plan and fund your retirement lifestyle How to plan and fund your retirement By now, you ve done most of the hard work: holding down a career and acquiring
More informationSALARY PACKAGING SUPERANNUATION GUIDE TO EMPLOYEES
SALARY PACKAGING SUPERANNUATION GUIDE TO EMPLOYEES Superannuation Introducing Salary Packaging Salary packaging has been made available to all staff of the University through the Enterprise Agreement process.
More informationSuperannuation Surcharge Guide. Issued: December 2013
Superannuation Surcharge Guide Issued: December 2013 Contents Introduction... 3 Surcharge process... 4 What are my options?... 5 Need more information?... 7 Contact Centres 70 Eagle Street Brisbane 63
More informationINSURANCE. Income protection and business expense claims. Your step-by-step guide
INSURANCE Income protection and business expense claims Your step-by-step guide Income protection and business expense claims process Step 1 Contact your adviser or call our Claims Helpline To make a claim
More informationUnderstanding tax Version 5.0
Understanding tax Version 5.0 This document provides some additional information to help you understand the financial planning concepts discussed in the SOA in relation to tax. This document has been published
More informationUnderstanding Tax Version 1.0 Preparation Date: 1st July 2013
Understanding Tax Version 1.0 Preparation Date: 1st July 2013 This document provides some additional information to help you understand the financial planning concepts discussed in the SOA in relation
More information2014/15 Key Superannuation Rates and Thresholds
2014/15 Key Superannuation Rates and Thresholds These are the key rates and thresholds that apply in relation to superannuation contributions and benefits, superannuation guarantee and co-contributions.
More informationCareer transition guide. We empower you. westernpacific.com.au
Career transition guide We empower you. westernpacific.com.au Contents Introduction 3 Coming to terms with redundancy 3 Assessing your financial position 4 Securing employer payments 5 Redundancy and your
More informationAustChoice Super general reference guide (ACH.02)
AustChoice Super general reference guide (ACH.02) Issued: 28 May 2015 This guide contains important information not included in the AustChoice Super PDS. We recommend you read this entire guide. The information
More informationHow super works. VicSuper FutureSaver Member Guide
How super works VicSuper FutureSaver Member Guide Date prepared 1 July 2015 The information in this document forms part of the VicSuper FutureSaver Product Disclosure Statement (PDS) dated 1 July 2015.
More informationFEDERAL BUDGET 2009 UPDATE BRIEF SUMMARY
Wealth Management Federal Budget 2009 FEDERAL BUDGET 2009 UPDATE BRIEF SUMMARY The Government has delivered what it says is one of the most difficult Budgets since the great depression, with many winners
More informationSmart strategies for maximising retirement income
Smart strategies for maximising retirement income 2010 Why you need to create a life-long income Australia has one of the highest life expectancies in the world and the average retirement length has increased
More informationGuide for notice of intent to claim a tax deduction for personal super contributions 2014/2015
Guide for notice of intent to claim a tax deduction for personal super contributions 2014/2015 Under section 290-170 of the Income Tax Assessment Act 1997 Need Help? For more information about your eligibility
More informationTaxation of lump sums
MB09 04/12 Taxation of lump sums What you need to know Under current tax law both, your Employer and Member Benefits may be subject to tax if withdrawn as either a rollover or cash lump sum. The only exception
More informationSUPERANNUATION Changing jobs?
SUPERANNUATION Changing jobs? Your guide to keeping your Integra Super account Fund Nomination Form Integra Super July 2012 OnePath Custodians Pty Limited ABN 12 008 508 496 AFSL 238346 RSE L0000673 347
More informationKey Superannuation Rates and Thresholds
Key Superannuation Rates and Thresholds Concessional contributions cap Concessional contributions consist of: 1. Employer contributions including salary sacrifice contributions 2. Personal contributions
More informationYour Super Guide. Product Disclosure Statement 15 December 2014 Nestlé Super Insured Accumulation category. Contents. Important Information
Australia Group Superannuation Fund Your Super Guide Product Disclosure Statement 15 December 2014 Nestlé Super Insured Accumulation category Contents 1 About Nestlé Super p2 2 How super works p2 3 Benefits
More informationThe Executive Superannuation Fund
The Executive Superannuation Fund Agenda Overview of The Executive Superannuation Fund ( the Fund ) Contributions ti and insurance benefits available to KPMG staff Investment option asset allocation Investment
More informationYour guide to. retirement planning. I ve been transitioning to retirement for four years. It gives me tax savings and access to extra cash.
Your guide to retirement planning I ve been transitioning to retirement for four years. It gives me tax savings and access to extra cash. DANIEL CLIFFORD, COMBINED SUPER MEMBER Contents > Plan your retirement
More informationSuper Strategies. 15 ways to retire with more.
Super Strategies. 15 ways to retire with more. FOURTH EDITION, FEBRUARY 2011 1 The Retirement Revolution. This book has been written to help you understand the key changes for superannuation and provide
More informationBT Super for Life. Product Disclosure Statement (PDS) Contents. Dated: 1 July 2015
Contents BT Super for Life Product Disclosure Statement (PDS) Dated: 1 July 2015 1. About BT Super for Life 2 2. How super works 2 3. Benefits of investing with 3 BT Super for Life 4. Risks of super 5
More informationYour guide to super smart strategies.
Your guide to super smart strategies. What you ll find in this guide Learn more about super and discover how the super smart strategies can help you to grow your wealth, make the most of your super and
More informationYour retirement options. Making the most of your retirement
Your retirement options Making the most of your retirement Your retirement your choice Retirement it s an exciting time, but it s a challenging time. So many choices, so many possibilities so how do you
More informationFact Sheet Tax on Super 2009/10
It pays to belong TM Key Focus A tax of 15% applies to concessional (i.e. before tax) contributions. All employer and salary sacrifice contributions will be taxed at the top marginal rate if your super
More informationTax on contributions. Non-concessional (after tax) contribution caps. Age at 1 July 2015 Annual cap Tax rate Under 65 $180,000* Nil 65-74 $180,000 Nil
This section summarises the main Federal Government taxes that apply to superannuation at the time of preparation. For more information, contact MyLife MySuper on 1300 MYLIFE (695 433) or the Australian
More informationAdditional Information Booklet
SuperWrap Additional Information Booklet Dated 20 November 2015 This Additional Information Booklet ( Booklet ) has been prepared by the issuer of SuperWrap: BT Funds Management Limited ABN 63 002 916
More informationIf you work in Australia, your employer may have to contribute to a superannuation fund for you under the Superannuation Guarantee system if you:
Superannuation is a tax advantaged way of saving for retirement and makes up two of the three pillars of the Government s retirement income policy. The three pillars are: A Government funded means-tested
More informationSuperannuation. A Financial Planning Technical Guide
Superannuation A Financial Planning Technical Guide 2 Superannuation Contents Superannuation overview 4 Superannuation contributions 4 Superannuation taxation 7 Preservation 9 Beneficiary nomination 9
More informationSWMS Super Wrap. Product Disclosure Document. This product is issued by: Issued 1 July 2014
SWMS Super Wrap Product Disclosure Document Issued 1 July 2014 This product is issued by: Oasis Fund Management Limited as Trustee of the SWMS Super Wrap ABN 38 106 045 050 AFSL 274331 242 Pitt Street,
More informationFinancial advice makes a difference
Bridges Financial advice makes a difference Financial advice makes a difference Advice from a Bridges financial planner will help you have confidence in the decisions you make. Financial advice makes a
More informationSmart End of Financial Year Strategies
Level 7,34 Charles St Parramatta Parramatt NSW 2150 PO Box 103 Parramatta NSW 2124 Phone: 02 9687 1966 Fax: 02 9635 3564 Web: www.carnegie.com.au Build Guide Protect Manage Wealth Smart End of Financial
More informationSUPERANNUATION Changing jobs?
SUPERANNUATION Changing jobs? Your guide to keeping your Integra Super account Fund nomination form Integra Super OnePath MasterFund ABN 53 789 980 697 RSE R1001525 OnePath Custodians Pty Limited ABN 12
More informationProduct Disclosure Statement
AMP Retirement Savings Account Product Disclosure Statement Contents 1. About AMP Retirement Savings Account 2. How super works 3. Benefits of investing with AMP Retirement Savings Account 4. Risks of
More informationProduct Disclosure Statement
Product Disclosure Statement bcu Retirement Savings Account (Current as at August 20, 2014) Bananacoast Community Credit Union Ltd ABN 50 087 649 750 AFSL No. 241077 The information in this PDS is general
More informationIssued ₁ July ₂₀₁₅. Member guide. SuperLeader Fact sheet. AMP Corporate Super Registered trademark of AMP Life Limited ABN 84 079 300 379.
Issued ₁ July ₂₀₁₅ Member guide SuperLeader Fact sheet AMP Corporate Super Registered trademark of AMP Life Limited ABN 84 079 300 379. This is a member guide fact sheet for SuperLeader. It is an important
More informationAdditional Information Booklet
SuperWrap Additional Information Booklet Dated 1 July 2014 This Additional Information Booklet ( Booklet ) has been prepared by the issuer of SuperWrap: BT Funds Management Limited ABN 63 002 916 458 AFSL
More informationProduct Disclosure Statement
Product Disclosure Statement MYSUPER AUTHORISATION NUMBER 72229227691044 1 July 2014 NESS Super, the industry fund to power your financial future inside 1 About NESS Super 2 2 How super works 2 3 Benefits
More informationPersonal Choice Private ewrap Super/Pension
Personal Choice Private ewrap Super/Pension Product Disclosure Statement PART 1 General Information I 1 July 2014 PERSONAL CHOICE PRIVATE Trustee of Personal Choice Private ewrap Super/Pension and issuer
More informationSuperannuation: dealing with life s changes
Booklet 2 Superannuation: dealing with life s changes MAStech Smart technical solutions made simple Contents Introduction 01 Introduction 03 Accessing your superannuation benefits 04 Conditions of release
More informationADVANCE RETIREMENT SAVINGS ACCOUNT Annual Report for year ended 30 June 2014. Issued by BT Funds Management Limited ABN 63 002 916 458 AFSL 233724
ADVANCE RETIREMENT SAVINGS ACCOUNT Annual Report for year ended 30 June 2014 Issued by BT Funds Management Limited ABN 63 002 916 458 AFSL 233724 CONTENTS Introduction... 1 Recent developments in superannuation...
More informationSMSF Facts Sheet. July 2015
SMSF Facts Sheet July 2015 Key Superannuation Rates and Thresholds - 2015/16 Contributions The tables below contain the amounts of concessional and non-concessional contributions you may make to your superannuation
More informationSUPERANNUATION Changing jobs?
SUPERANNUATION Changing jobs? Your guide to keeping your Corporate Super account Fund Nomination Form Corporate Super February 2012 OnePath MasterFund ABN 53 789 980 697 RSE R1001525 OnePath Custodians
More informationFinancial Services with a Personal Touch
Financial Services with a Personal Touch CONCESSIONAL CONTRIBUTIONS CAP Concessional contributions include: employer contributions (including contributions made under a salary sacrifice arrangement) personal
More informationTaxpayers Australia Inc
Taxpayers Australia Inc Superannuation Australia (A wholly owned subsidiary of Taxpayers Australia Inc) Glossary of superannuation terms These terms are commonly used in the superannuation sector. Account-based
More informationInvestment Bond & Rollover
Investment Bond & Rollover This report includes: Deferred Annuity Capital Guaranteed Collection Rollover Rollover Portfolio and Rollover Parking Fund Capital Guaranteed Collection Investment Bond Investment
More informationANZ Smart Choice Super
ANZ Smart Choice Super PRODUCT DISCLOSURE STATEMENT EMPLOYERS AND THEIR EMPLOYEES 25 MAY 2015 Contents 1. About ANZ Smart Choice Super 3 2. How super works 3 3. Benefits of investing with ANZ Smart Choice
More informationKeep your exclusive membership if you leave employment with the Group
GPO Box 4758 Sydney NSW 2001 Telephone 1800 023 928 Facsimile (02) 9303 7700 oursuperfund.com.au Keep your exclusive membership if you leave employment with the Group Dear Member For more than 95 years,
More informationSmart strategies for your super
Smart strategies for your super 2010 Make your super count Superannuation is still one of the best ways to accumulate wealth and save for your retirement. The main reason, of course, is the favourable
More informationUnderstanding retirement income Version 5.0
Understanding retirement income Version 5.0 This document provides some additional information to help you understand the financial planning concepts discussed in the SOA in relation to understanding retirement.
More informationINSURANCE. Life insurance claims. Your step-by-step guide
INSURANCE Life insurance claims Your step-by-step guide Life insurance claims process Step 1 Contact your adviser or call our Claims Helpline To make a claim contact your adviser or call our Claims Helpline
More informationTAX TUTOR INSIDE IS YOUR TAX GUIDE FOR 2013-2014
TAX TUTOR INSIDE IS YOUR TAX GUIDE FOR 2013-2014 PERSONAL TAX PERSONAL INCOME TAX RATES 2013-2014 & 2012-2013 Taxable Income $0 - $18,200 Nil Tax Payable $18,201 - $37,000 19% of excess over $18,200 $37,001
More informationZurich Super Estate Management
Zurich Super Estate Management Binding Nominations The Trustee of the Zurich Master Superannuation Fund is Zurich Australian Superannuation Pty Limited ABN 78 000 880 553, AFSL 253 500, RSE Licence No.
More information