Superannuation Accounts Articles

Reaching retirement age is a significant shift socially, emotionally and financially. A welcome change for many is that earnings in the retirement phase are tax free (subject to the transfer balance cap and your age being 60 or over), and you do not pay tax on your pension withdrawals.

There are plenty of advantages to using superannuation to build wealth, such as the tax-advantaged environment, but that doesn’t always mean it should be your first port of investment call.

Very few SMSFs in Australia are registered for GST, but in some cases, the extra admin for those that aren’t required to register might be worthwhile from a tax perspective. It comes down to ability of SMSFs to claim back a level of GST it has paid depending on the type of investments and services used.

For such a critical and long-dreamed of part of life, investing in retirement was woefully underserviced until recently. Superannuation funds focused heavily on the accumulation stage, relegating pension phase to a side thought. As Australians have come to live longer, and more of the baby boomers have retired – one of the largest generation cohorts, it’s become patently clear that retirement investment strategies need more nuance to manage the unique challenges of retirement.

Have you been thinking about switching your super lately? Maybe your adviser suggested it. Maybe your fund’s merging. Or maybe you’ve just started a new job and, instead of handing over the default super form to HR, you’d rather take control and choose a fund that actually stacks up for your future.

Superannuation is one of the most effective ways to build wealth for retirement, but it doesn’t always pass to your loved ones tax-free.

For years, SMSFs have mostly been the domain of older trustees managing their own retirement nest eggs. However, that’s starting to change, as more families are experimenting with multigenerational SMSFs by bringing children into the fold to create larger funds and boost cash flow.

For many Australians, superannuation is a set and forget investment. But the truth is, small differences in fees, performance, and features can snowball into hundreds of thousands of dollars in retirement savings.

The proposed $3 million super tax is one of the biggest shake-ups Australia’s retirement system has seen in decades, forcing many SMSF trustees to rethink their long-held strategies.

Superannuation comes with its fair share of limits and thresholds designed to keep tax benefits in check. One of the big ones is the transfer balance cap. From 1st July, it has increased from $1.9 million to $2 million, raising the amount you can move into the tax-free pension phase of your super.

Growing your super often feels like a solo journey, but if you’re a couple planning for retirement, you can achieve far more together.

Salary sacrificing into super has long been one of the most effective ways to manage taxes while building long-term wealth. Even with new rules on the horizon—like the proposed tax on super balances above $3 million cap—the fundamental attractions of this strategy remain unchanged. In a high-tax environment, it’s worth taking a fresh look at how this tax-efficient strategy fits into your broader financial plan.