Notes

Pre-30 June Super Health Check
Which type of fund is the best for you?

These days it's no longer acceptable to check out the advice of tied financial advisors who would like to sell their commission-based products - investors want advice which is inside their desires.

As a starting place, review your fund's performance over the past one to five years. If your current fund was chosen because of your employer and/or is underperforming, it can be time to change funds.

If there is a corporate super fund, you might receive reduced fees or lower insurance premiums. It is therefore important to understand these benefits before changing super funds. super health check Australia offer more services, normally have higher fees and run in a profit. Industry total funds are inexpensive funds with lower fees, run to profit members. If you have many super fund, consider consolidating to relieve fees.

Spread your investments

Ideally you would like to retire comfortably to aid your future lifestyle. Ensure your asset class allocation is within line along with your investment strategy - look at lastest super statement and rebalance your portfolio if necessary. An independent advisor can help you tailor your asset allocation and add significant value.

Consider a Self Managed Super Fund (SMSF) to raise your super potential

If you and your partner havecombined super of over $150,000, now's fun to consider combining it inside a SMSF to increase your wealth (and future retirement fund).The Australian Taxation Office rule changes have experienced a rush of SMSFs getting into investment property on account of favourable changes introduced by the Government in 2007 that allow funds to borrow to get an asset.

There may also be generous tax benefits associated with buying a good investment property via a SMSF, and also the concessional contribution cap set to reduce from 1 July to $25,000 for many super fund members, purchasing property via your SMSF could be a proper strategy to further supercharge your super.

Note however that stamp duty concessions end on 30 June - should you be thinking of buying property through your SMSF, meet with your financial planner immediately to implement your gearing in super arrangements.

Maximise contributions by 30 June

Make probably the most of maximising contributions to optimize your super wealth:

• For 20011/12, superannuants aged 50 as well as over could make approximately $50,000 in concessional contributions (at the mercy of work tests for 65 to 74 year olds). For 2012/13 this amount is reduced to $25,000, and for under 50 year olds, the cap is $25,000. Superannuants under 65 can also make non-concessional contributions up to $150,000 (or $450,000 "bring forward" over several years), again susceptible to the task tests for all those aged 65 to 74.

• Avoid breaching contribution caps and being taxed 93% in your contributions by identifying and rectifying any errors before year end.

• This is the last financial year you may make in-specie share contributions for a SMSF - contribute now to minimise transaction costs.

• Avoid breaching the modern and reduced $25,000 concessional cap by reviewing your salary sacrifice arrangements noisy . July.

• If you are over 55 it really is vital that you review and optimise your concessionally taxed pension. Avoid any problems later around the track by withdrawing at least your minimum pension by 30 June.

Insurance and estate planning

Consider holding life, TPD and income protection insurance to raised protect your household in the event you can't work with some time due to sickness or injury, particularly should you be self-employed.

In the wedding of your death, keep your super would go to who you need it to - in the event you aren't sure who the beneficiaries of one's superannuation fund are, transform it into a priority to analyze it as soon as possible. There are tax-related liabilities based on which team you decide to bequeath your death benefit to, so it's imperative that you seek professional advice before completion of one's Will.

Lost super fund

Visit the ATO's free website "SuperSeeker" to locate lost or forgotten super. You could possibly be pleasantly surprised.

Be vigilent and earn time to take a look at super - changes in your super now can mean a positive change inside amount that you get when it comes time to retire.

Disclaimer: The information in this document does not take into consideration your own objectives, finances or needs and that means you should look into its appropriateness having regard about bat roosting factors before acting on it. It is important that your own circumstances are considered before making any financial decision and it can be recommended that you seek the assistance of your financial adviser.
Here's my website: https://superhealthcheckaustralia.com.au/