|
Deeds Created in 20 Minutes 24/7
EMAILED INSTANTLY |
6 Ways to boost your Super in 2009
With no limit on how much money you can have in super, senator Nick Sherry gives us tips on how to maximize super balances in the new year.
His is a spatter gun approach : Do everything
1) Consolidate
2) Pay less tax by providing TFN to your fund
3) Pay Less fees
4) High Returns
5) Maintain Insurance
6) Contribute More
Senator Nick Sherry, Minister for Superannuation and Corporate Law,
has urged Australians to make a new year's resolution to tidy up their
superannuation.
"The past year has been a difficult one for
super fund members due to effect of the global financial crisis,
however, members should be aware that superannuation is a long-term
investment and markets will recover.
"Members can take important steps to maximise their superannuation benefit long-term."
"Take an interest and be an active superannuation fund member. It's
your retirement that is the end goal,' Minister Sherry said.
Ways to maximise your super include:
1. Consolidate your super accounts
Ask yourself whether your current superannuation fund has your address
and contact details. Ask yourself whether you have ever contributed to
other funds that you have since lost touch with, for example, not
received a recent statement from.
Having more than one super fund account means you get charged multiple
fees and there is a risk that any small super balances can be eaten up
by fees. There are 6.4 million "lost" super accounts totalling $13
billion.
Consider using the Australian Tax Office's
SuperSeeker tool to find out if you have any lost super. You can access
SuperSeeker online using the SuperSeeker tool:
https://superseeker.super.ato.gov.au/individuals/default.aspx?pid=0 or
by phone 13 28 65 and following the prompts.
2. Provide your fund with your Tax File Number
If your super fund has not got your TFN there is a risk that all
employer contributions, including salary sacrifice, will be levied tax
at the highest marginal rate of 46.5 per cent.
3. Check fees and assess whether your fund is competitive
Treasury estimates that the average ongoing fee across the
superannuation system is currently 1.25 per cent though the range can
be less than 1 per cent through to 2 per cent or more. Fees can make a
significant difference to your end superannuation benefit.
4. Check returns over 5-7 years and see how your fund compares with peer funds
One-year returns in superannuation are not a valid measure of your
fund's performance because super is a long-term investment. Consider
your fund's performance over a 5 year, 7 year even 10 year period as
these timeframes provide a more accurate measure of your fund's
 performance over a market cycle, including rising, falling and flat
markets.
Remember to compare like-with-like. For example,
don't compare the cash option with the shares option as the risk/return
profile is totally different.
Most people in superannuation
who have not actively chosen an investment option are in their fund's
'Balanced' Option which is a mix of assets including domestic and
international shares, fixed interest, property and cash.
So, if you are
making comparisons, compare the performance of your balanced option
with other funds' balanced options.
5. Check your level of life insurance and assess whether it is adequate
Most employer-sponsored superannuation funds, such as  industry super
funds or corporate master trusts, carry a level of automatic life
insurance often linked to the member's age. For many people with debts
and/or a family this level may be inadequate.
Check your level of
automatic coverage, assess whether it is enough for your needs and
consider buying additional units of cover through your fund. This will
usually be cheaper than buying stand-alone cover outside super.
.
6. Are you making the right level of contributions?
Financial product regulator ASIC and various superannuation
funds/providers carry superannuation calculators on their websites to
help people work out whether their current level of super contributions
are enough to help them achieve the lump sum or annual income they
desire in retirement.
As with mortgage calculators, the good ones will
let the user enter their own information/data and try different
scenarios, such as more or less contributions or greater or lesser
investment returns. These are not foolproof but provide a good starting
point to focus the mind on what is needed to achieve a certain
retirement goal.
We wish our readers a
Happy New Year !
|
This fortnight email service is free and is written by a team of accountants who have over 20 years of experience in creating tax structures for clients. If you want any topic to be included - send request to sales@trustdeed.com.au
|
www.trustdeed.com.au provides online service for creating, storing & managing legal documents for Companies and Trust deeds for SMSF, Family, Unit & Hybrid Trusts, click here for more information.
 New / Update SMSF Trust Deeds cost only $110 and can be created in 20 minutes, Trust Deeds are emailed instantly!
|
|
FIRST TRUST DEED FREE |
if you are an advisor, financial planner, accountant or a solicitor, we can offer you to create one trust deed on our system for free. This offer is valid provided you purchase 10 or more new SMSF deeds or update 10 SMSF trust deeds for your clients. To claim your first free trust deed, first register on our website www.trustdeed.com.au and phone our office on 02 9638 2807 for a promotional code.
If want to communicate with your clients, advising them the need & advantages to update their trust deed, click here to download a pro-forma letter to your clients.
|
| remeber you can create a SMSF trust deed at any time 24 / 7 |
|
www.trustdeed.com.au goes on live help
If you are an advisor and use our website for your clients SMSF  Trust Deed. You now have access to SMSF Specialist Advisor who will answer all your technical questions online for you. Simply click the button above and start chat.
New or update your existing SMSF Trust Deed for $110 You can keep the trust deed up to date for the next five years for only $165.
Our SMSF trust deed has been prepared with input from accountants who have over two decades of experience in setting up structures for their clients and have combined knowledge of auditing and lodging tax returns for more then 2000 SMSF's, their practical experience is an invaluable contribution.
For further questions on our trust deed, ring 02 9684 4199 or email sales@trustdeed.com.au |
| |
Our Website has complete Document manager for all future downloads
We are the only online SMSF Trust Deed providers where you can purchase a Trust Deed 24/7 for $110
It takes only Less then 20 minutes to register and build a SMSF Deed.
|
|
| Phone 02 9684 4199 or visit www.trustdeed.com.au |
|
This email is sent by:
Sales Team
www.trustdeed.com.au
Deed Dot Com Dot Au Pty Ltd
P 02 9684 4199 F 02 9838 3060
Unit 4, 287 Victoria Road, Quantum Corporate Park NSW 2116
PO Box 1010 Dundas NSW 2117
| |
|
|
