What is superannuation?

Superannuation, or ‘super’ is a way to save for the future and can be one of your biggest long term investments. Taking control of it now can help you get the most out of it later. It is important to understand how much super you will need in retirement and developing a plan to maximise your potential of reaching your retirement goals. There are a range of tax effective strategies that you can use to get the most from your super.

A Coastwealth Financial Adviser can help you put in place the right strategies for you by:

• finding a super fund that suits your needs
• consolidating your super funds into one to potentially save fees
• putting in place super strategies to boost your super balance
• structuring your super to so your beneficiaries are taken care of
• providing guidance on self managed super funds
• consider what contributions you should make to your super
• ensuring your investments within super are aligned with your goals and risk profile

When reviewing your super, your Coastwealth Financial Adviser will start by looking at the overall strategy you have in place and whether there are opportunities to take advantage of available super tax concessions.

The tax benefits of superannuation include:

• Personal contributions made to super may attract a tax deduction
• Contributions made by your employer or under a salary sacrifice arrangement are taxed at only 15% instead of your marginal tax rate which could be higher
• Investment earnings are taxed at a maximum of 15%, rather than your marginal tax rate which could be up to 46.5%
• Capital gains in the super fund are taxed at a maximum rate of 15 per cent instead of at your marginal rate if the investments are held by you outside super
• Your super benefit can be paid as a tax-free pension or lump sum when you reach 60 and satisfy the criteria to access your funds

Call us on 07 5355 0979 for more information about how we can help you make the most of your superannuation.