Superannuation
Self-managed Superannuation Funds
If you wish to control your own superannuation, then together we can design your own internal superannuation fund, tailor investments to meet you specific needs and provide accounting, taxation and audit services for your fund.
There are several trust laws and legislative requirements for setting up a self-managed superannuation fund (SMSF). Typically you need to:
- Obtain a trust deed, or
- Update your trust deed
- Appoint trustees – individual or establish a Trustee Company
- Sign a trustee declaration (NAT 71089)
- Elect to become a regulated fund
- Obtain a tax file number (TFN)
- Obtain an Australian business number (ABN)
SMSF strategies and advice – we provide qualified advice to ensure all members achieve the maximum benefit from their SMSF. Whether it be advice on compliance issues, wealth creation or pension strategies, Kerry Albert & Co will provide the professional advice you need to set up your own fund and greatly simplify the process for you.
Super contribution strategies
Our superannuation experts provide advice on:
- Personal Non – Concessional Contributions
- Concessional Contributions
- Government Co-Contribution
- Employer Contributions
- Salary Sacrifice Contributions
- Superannuation Contribution Caps
- Contributions Tax
- Strategies to Maximise Superannuation Contributions
If you are interested in increasing your retirement benefits or reducing your tax by making or increasing your superannuation contributions, please phone a member of our Financial Planning Team today.
Superannuation Pensions
A superannuation pension is one of the most tax effective methods of receiving a regular income stream. They are available to people who have reached their preservation age and can be paid whilst you are still working and/or when you have retired from the work force.
It is important to get the right advice regarding superannuation pensions so that you can maximise the benefits available to you:
Some important questions that need discussion include:
- What age is best to start a superannuation pension?
- What type of superannuation pension is best for you?
- What are the minimum and maximum amounts allowed to be drawn each year from a superannuation pension?
- What are the costs to set up a superannuation pension?
- What are the tax advantages of a superannuation pension?
- Which superannuation fund is best to set a pension up through?
- What are the impacts of starting a superannuation pension on your Centrelink benefits?
As you can see there are many things to consider when looking to start a superannuation pension and receiving the correct advice is vital.
If you are interested in commencing a superannuation pension please speak with a member of our Financial Planning Team today.
Transition to Retirement Pension
A transition to retirement pension provides a means of accessing your superannuation benefits before you have fully retired.
It also allows you to reduce the number of hours or days of full time employment without giving up the income that you have become accustomed to.
To commence a transition to retirement pension you need to have reached your preservation age (age 55 for most), at which time you can draw a pension from your superannuation fund whilst continuing to work.
A good transition to retirement pension will:
- Reduce the level of income tax you pay each year
- Reduce the level of earnings tax you pay on your superannuation benefits
- Increase your superannuation benefits at retirement
- Increase the flexibility for drawing income
A transition to retirement pension is suitable for most people who have met their preservation age, earn over $50,000 per annum and have over $75,000 in superannuation.
If you would like to investigate the advantages of establishing a transition to retirement pension further please speak with a member of our Financial Planning Team today.