Superannuation – Make it work for you

Significant tax savings for all taxpayers

We all want to retire in comfort, with enough money to maintain a reasonable lifestyle and not having to worry about the future. The trouble is the cost of living is always rising and great care is needed to ensure that your superannuation keeps pace.

Superannuation laws are currently quite generous as the government encourages taxpayers to save for their own retirement. Superannuation offers the one real area where legitimate (and significant) tax savings can be achieved. If you structure your superannuation activities correctly, then you can at least half the tax that you might otherwise pay on investment income. And these savings are legally available to normal taxpayers.

Understanding Superannuation

Unless you work in the area, the laws are complex and concepts are sometimes difficult to grasp. Talk to us and we’ll step you through the strategies that are relevant to you at your stage of life.

We’ll help you understand the compulsory Superannuation Guarantee Levy, the contribution limits if you are contributing yourself, salary sacrificing into super, what type of assets that you can and can’t invest into, and how and when you can access your benefits.

Self Managed Super Fund – could be right for you

A Self Managed Super Fund (SMSF) offers two main benefits to you;

  1. you have total control over where you invest your superannuation savings to achieve your retirement strategy, and
  2. they usually cost less to run that than retail funds.

Noel May & Associates can provide detailed advice and assistance in the following areas:

  • Devising a Retirement Strategy which maximises your superannuation savings
  • Trust deed reviews
  • Setting up your own SMSF
  • Investment restrictions for super funds
  • Taxation of income of the fund
  • Taxation of contributions to the fund
  • Superannuation fund audits
  • The advantages of taking a pension from your fund
  • Binding death benefit nominations
  • Structuring your Estate Planning to ensure that your savings aren’t totally lost to tax as they pass to the next generation

For more information or asistance ring the office on (03) 9585 7555 and ask for Noel or Amanda,orcontact us by email.