Super Splitting

Posted by adminjmrit In Super 0 comment

Women are just as likely as men to say they are going to invest for the future but it is taking the plunge that sets the genders apart when it comes to taking money matters into their own hands.

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Home loan or salary sacrifice?

Posted by adminjmrit In Finance 0 comment

It is often thought that paying off the mortgage on a home should be a top priority because the interest is not tax deductible. But does this apply to everyone?

As you make the mortgage repayment with “after tax” dollars this may not always be the best approach. For example, if you have a spare $100 each week which could be applied to your mortgage, an alternative might be to ask your employer to make a “salary sacrifice” contribution to your superannuation. (more…)

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Are we retiring too early?

Posted by adminjmrit In Retirement 0 comment

In 1909, the retirement age for an Australian man was set at 65. The average life expectancy for an Australian man in 1909 was 59. That is, if you managed to beat the odds and live longer than those around you, you were rewarded with the opportunity to retire.

The retirement age has basically remained the same for over 100 years. However, whilst retirement age has remained unchanged, life expectancy has not. Today we can expect to live to 82. With much longer life expectancies and an ageing population, does it still make sense to keep the age of retirement at 65?
The cost of longevity to tax payers

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Why self-manage your super?

Posted by adminjmrit In Super 0 comment

When it comes to superannuation, there are two types of people – those who find it all “too hard” and don’t give it the attention it deserves, and the growing group – those who want to take complete control of their super by setting up a Self Managed Superannuation Fund (SMSF). But what does “take complete control” really mean when it comes to potentially your largest asset?

Often a superannuation fund will form the core of a financial plan. Choosing a fund and using it effectively is a vital part of ensuring a secure financial future. With a SMSF you control all aspects of your super…

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Boost retirement savings

Posted by adminjmrit In Retirement 0 comment

What a great deal! If you are 55 or over, here’s how you can lower your tax bill, boost your savings and perhaps even take advantage of other government products, all of which will assist in a more comfortable life in retirement.

“Transition to retirement” (TTR) strategies offer workers aged 55 and over the opportunity to further boost their retirement savings. The main points of the strategy are as follows:

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How much do I need to retire?

Posted by adminjmrit In Retirement 0 comment

Most of us look forward to stopping work and living the holiday lifestyle. “Retirement” gives us the freedom to do the things we’ve always dreamed of doing, but to achieve this goal will require a bit of planning because, thanks to modern health care, we’re living longer.

Statistics from the Government Actuary show women can expect on average to live to age 84 and men to 80 years. Of course, some people will die earlier and some will live longer – but depending on when you stop work you may have to support yourself for at least another 20 years!

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Gearing your Super

Posted by adminjmrit In Super 0 comment

For many years super funds were only allowed to borrow under very limited circumstances. However, with the government wanting to make superannuation more attractive to more people, it now allows for gearing within super funds.

Instalment warrants have been used by superannuation funds for some time and they involve borrowing. The government has rules to confirm that these products do not break the general borrowing restriction.

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Time to fix your rate?

Posted by adminjmrit In Finance 0 comment

The combination of the Reserve Bank’s recent decision to leave rates on hold and the fact that the movement of fixed rates tends to anticipate the variable rate movements has put fixed rates on the agenda for consideration.

Economic conditions indicate that the worst may be behind us, however by the time the RBA decides to make future rate rises, the fixed rates have already moved up in anticipation.

Think of it like a long rollercoaster. Fixed rates at the front seats – variable rates at the back. For a no obligations conversation to find out if you can get a better deal contact us.

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Minimising or Eliminating Capital Gains Tax!

Posted by adminjmrit In Tax 0 comment

When you dispose of an asset and make a capital gain, you may be liable for extra tax. There is no separate tax rate for capital gains. Instead, some or all of the capital gain is added to your assessable income and taxed along with your other income at your marginal tax rate. However the rules in a super fund are different. Over 55 and selling assets in super can potentially see no capital gains payable

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