Author: Recruitment Super
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How to allocate superannuation funds between family members equitably
Superannuation is a crucial aspect of financial planning, especially when it comes to providing for your family’s future. Allocating superannuation funds between family members equitably is a decision that requires careful consideration and planning. It involves not only ensuring that each family member receives their fair share of the funds but also taking into account…
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What happens to superannuation in cases of intestacy (dying without a will)?
In the event of someone passing away without a will, also known as dying intestate, the distribution of their assets, including superannuation, can become a complex and challenging process. Superannuation is a crucial component of an individual’s financial planning for retirement, and it is essential to understand what happens to these funds when someone dies…
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How to plan for superannuation distributions if you have minor children
Planning for superannuation distributions can be a complex process, especially when you have minor children to consider. It’s essential to carefully consider how you want your superannuation to be distributed to ensure that your children are taken care of financially in the event of your passing. In this article, we will discuss some key strategies…
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Can a superannuation death benefit be contested?
Superannuation death benefits can be a sensitive and complex issue, especially when disputes arise among beneficiaries. When a person passes away, their Superannuation Fund typically pays out a Death Benefit to their nominated beneficiaries or their estate. However, there are instances where the distribution of these benefits may be contested, leading to legal battles and…
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How to ensure your dependents receive your superannuation efficiently
Superannuation is an essential part of retirement planning for many Australians. It is a tax-effective way to save for the future and ensure financial stability during the later years of life. However, what happens to your superannuation savings when you pass away? Ensuring that your dependents receive your superannuation efficiently is crucial to providing for…
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How to structure your estate plan to include superannuation assets
Estate planning is a crucial aspect of financial management that often gets overlooked. Many individuals are unaware of how to structure their estate plans to include their superannuation assets. Superannuation is a key component of many Australians’ retirement savings, and it is important to ensure that these assets are properly accounted for in your estate…
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The role of non-concessional contributions in tax planning
Tax planning is a crucial aspect of financial management for individuals and businesses alike. It involves strategizing to minimize tax liabilities within the legal framework provided by the tax authorities. One of the tools often used in tax planning is non-concessional contributions. Non-concessional contributions refer to voluntary after-tax contributions made to superannuation funds in Australia.…
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How to navigate tax-free and taxable components of your super
Superannuation is a crucial aspect of financial planning for many individuals, providing a means to save for retirement while benefiting from tax advantages. Understanding the tax-free and taxable components of your superannuation is essential for making informed decisions about your retirement savings. In this article, we will delve into the intricacies of navigating the tax-free…
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What are Division 293 tax rules and who do they impact?
Division 293 tax rules are a set of regulations put in place by the Australian Taxation Office (ATO) to ensure that high-income earners pay their fair share of tax on their superannuation contributions. These rules specifically target individuals with income greater than $250,000 per year, including both their taxable income and concessional superannuation contributions. The…
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What are the latest superannuation tax changes for retirees?
Superannuation is a critical aspect of retirement planning for many individuals, providing a way to save and invest for the future. As with any financial product, superannuation is subject to tax rules and regulations that can impact how much money retirees receive in their golden years. In recent times, there have been several changes to…