Superannuation Conditions of Release

There are a number of conditions of release that allow a person to access their benefits from superannuation. Superannuation was not designed to be a rainy day fund and conditions of release are set by legislation. Here are our tips to when you can legitimately access your superannuation.

Buying Trauma Insurance in a SMSF

Both Trauma Insurance and SMSF’s have grown in popularity in the last decade. With insurance available in SMSF’s many trustees have sought to take Trauma Insruance in their SMSF. There are a number of considerations that need to be considered including the sole purpose test. We discuss the advantages and disadvantages of Trauma Insurance in SMSFs.

Contributing to Superannuation

Contributing into superannuation is easy enough, however the way you make your contribution is important – ‘pre-tax’ or ‘post-tax’ contributions are dealt with differently and have different taxes applied! Want to know the difference and how to maximise your retirement dollar? Read on!

Types of Superannuation

Types of Superannuation

What are different superannuation types and how can that impact your retirement? Corporate Super, Industry Super, Retail Super and Self Manged Super. The MoneyGeek simplifies the types of superannuation so you can find the right super.

What is Superannuation

What is Superannuation? Superannuation Explained

To put it simply, superannuation works in a very similar fashion to any other investment portfolio with the main exception being that you cannot generally access the funds until retirement or disability.Superannuation is one of the most tax effective investments available and superannuation is designed to help save for retirement.

Superannuation Life Insurance Tax

Taxation of Life Insurance in Superannuation

Unlike personal life insurance policies, life insurance in superannuation can be taxed depending on the beneficiary. The rate of taxation can be as high as 31.5%. Beneficiaries status and financial dependency are relevant when a life insurance policy is paid from superannuation to determine the level of tax that is paid.