Superannuation Advice Brisbane & Mackay

Superannuation Strategies

Effective superannuation strategies are not one-size-fits-all; they must be meticulously tailored to your financial circumstances. The primary goals are to minimise tax liabilities, create wealth, and seize every opportunity to provide for your family’s financial security after your passing.

Here are some scenarios where tailored superannuation strategies may be particularly relevant to you:

1. Age 55 to 65, Still Working: If you’re in the age bracket of 55 to 65 and actively employed without transitioning to a Retirement Pension, specific strategies can help you optimise your superannuation.
2. Desire to Borrow within Super: If you wish to leverage your superannuation fund by borrowing money, there are strategies to explore that can amplify your investment potential.
3. Excess Savings and No Salary Sacrifice: When you have surplus savings and aren’t utilising salary sacrifice into superannuation, alternative strategies can enhance your financial position.
4. Age 60 to 65, Job Change: If you’re 60 to 65 and have recently changed jobs or plan to do so, tailored superannuation approaches can benefit you.
5. Spouse Aged 50 or Older: If your spouse is older than you and aged 50 or above, specific superannuation strategies can be advantageous for both of you.
6. Aged 51 to 55 without Pre-Retirement Strategy: If you fall within the age range of 51 to 55 and are not currently utilising a pre-retirement strategy, it’s worth exploring options to enhance your superannuation position.
7. Account-Based Pension Holder Aged 60-75: If you’re receiving an Account-Based Pension and are aged between 60 and 75, not drawing an additional pension and re-contributing it back into your superannuation each year can result in substantial savings for your family upon your passing potentially up to $22,500 per year.

How to make contributions

Contributions to your superannuation account are essential for securing your financial future. Here’s an overview of various contribution methods, who can use them, and potential benefits:

1. Employer Super Guarantee Contributions (9.5% until 2021/22):

• Automatically contributed by your employer, usually at a rate of 9.5% of your salary.
• These contributions help build your superannuation balance for retirement.

2. Employee – Salary Sacrifice Contributions:

• Employees can sacrifice a portion of their pre-tax salary into their superannuation account instead of taking it as taxable income.
• This strategy can reduce taxable income, potentially lowering tax liabilities.
• Available from 1 July 2017, employees can also make personal deductible contributions, offering more control over contributions and potential tax benefits.

3. Employee – Voluntary Contributions (After Tax):

• Employees can make voluntary contributions from their after-tax income into their superannuation account.
• Eligible individuals may receive Government co-contribution payments, subject to meeting specific conditions.

4. Self-Employed – Deductible or Non-Deductible Contributions:

• Self-employed individuals have the flexibility to make either deductible contributions (which can be tax-effective) or non-deductible contributions to their superannuation fund.

5. Not Working and Under 65 (Non-Deductible):

• Individuals who are not employed and are under the age of 65 can still contribute to their superannuation account on a non-deductible basis.

6. Spouse Contributions:

• Spouse splitting: A spouse can split their super contributions with their partner, providing financial flexibility and potentially reducing tax liabilities.
• Contributions on behalf of a spouse: One spouse can contribute to the superannuation account of the other spouse, helping boost their retirement savings.

7. Tax Considerations:

• Deductible contributions may offer immediate tax benefits by reducing your taxable income.
• Non-deductible contributions are made from after-tax income and may be eligible for the government co-contribution.
• Tax implications can vary based on individual circumstances, so seeking professional advice is advisable.

Why Choose Us to Manage Your Superannuation?

1. Extensive Experience in Superannuation Strategy:

• Alman Partners boasts a wealth of experience in superannuation strategy, having provided expert advice for many years.
• Our team possesses a unique blend of analytical, technical, and creative skills, ensuring you receive the most well-rounded and effective guidance.

1. Collaboration with Accredited Financial Planners:

• We collaborate closely with fully accredited financial planners under an Australian financial services license.
• This partnership allows us to offer comprehensive and legally sound superannuation solutions tailored to your unique needs.

1. Dedicated Customer Support Team:

• We understand that your superannuation needs may sometimes arise, so we have a dedicated customer support team at your service.
• Our support team is available around the clock, ensuring you can access assistance and guidance whenever you require it.

At Alman Partners, we’re committed to providing you with the best superannuation management services. Our extensive experience, collaboration with accredited financial experts, and dedicated customer support team are all geared toward ensuring that your superannuation journey is smooth, successful, and tailored to your individual financial goals. Your economic well-being is our top priority, and we’re here to guide you every step of the way.