Superannuation Advice

Superannuation is essentially a tax-effective method of saving for your retirement. For many of us, it is the largest asset we have, apart from our homes.

With a variety of contribution options, Superannuation is a complex area. It’s important to form a strategy to make the most of the tax concessions, financial incentives and rebates.

Super contribution options

  • Employer – 9.25% super guarantee contributions
  • Employee – salary sacrifice contributions
  • Salary forfeited as contributions to super instead of taking as taxable income
  • Employee – voluntary contributions (after tax)
  • Could be eligible for government co-contribution payments if other conditions are met
  • Self employed – deductible contributions
  • Must derive at least 10% of total income from self employed, business activities
  • Self employed or not working – after tax (non-deductible) contributions
  • Could be eligible for government co-contribution payment if other conditions are met
    Spouse – spouse splitting or spouse contributions

Strategy

By forming a strategy, you may take advantage of:

  • Transition to Retirement (TTR) rules
  • Choice of superannuation
  • Self Managed Superannuation Funds (SMSF)
  • Salary packaging (also known as salary sacrifice)
  • Retirement income streams

How can we help? – You can access a wealth of experience and knowledge in superannuation through a MT Wealth planner. Contact us today.

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