SuperGuide
Superannuation and retirement planning information
When you see a financial adviser, there are rules covering the documents and information provided to ensure the advice you receive is in your best interests and you can make good decisions.
Working out your retirement plan isn’t just about how much money you need. There are lots of other issues to consider when you’re planning life after work.
A salary sacrifice arrangement with your employee needs to meet certain rules if you want to avoid problems with the ATO later on.
When you make super contributions for your employees, ensure you pay by the deadline – or risk having to pay a penalty to the ATO.
Failing to report and pay your SG obligations can result in hefty penalties from the ATO, so ensure you meet your quarterly responsibilities.
When you make SG contributions, some of your employees won’t have a super fund, so it will be up to you choose a default super fund for them.
Capital gains are an investment goal, but they leave you with a tax liability, so it’s worth checking some of the strategies for cutting your CGT bill.
Holding death cover through your super fund can be a cost effective way to protect your family and financial dependents and to help pay off your debts if you die.
Employers generally don’t pay super for contractors, but it’s tricky to work out how they differ from employees. Here’s some rules to help you understand the difference.
Research shows your spending in retirement depends not just on how much you have in your nest egg, but also on the phases you go through as you age.
For some people, annuities can be an easy way to convert some of your super into a guaranteed income stream to cover your basic expenses in retirement.
Just because you’re retired doesn’t mean you can avoid dealing with the ATO. If you have an SMSF, or income other than a tax-free super pension, you still need to lodge a tax return.
The investment return on your super pension account is just as important as the returns you earn on your super while you are working, as this simple ‘rule of thumb’ demonstrates.
Sequencing risk can ruin even the most carefully planned retirement, with losses and low returns as you move into retirement reducing how much you can spend.
Estimating how long you might live is a key part of planning your retirement, as you need an idea of how many years you may need a source of retirement income.
In your 50s you’re in the final stretch before retirement, so it’s important to pay attention to your super to ensure you’re set to reach your retirement goals.
Being with a big super fund can have advantages, but that doesn’t mean you should switch if your fund isn’t one of the giants increasingly dominating the industry.
Fund estimates and online calculators can provide value insights for planning your retirement, but you need to understand the assumptions used to create them.
