When looking to make personal contributions to super, there are a number of considerations, including: 1. Type of contributions Super contributions fall into several categories. The main types include: Concessional contributions Contributions made by an employer for the benefit of their employees are treated as concessional contributions. They include compulsory contributions often referred to as […]
Over the years there have been a number of articles published stating people need to have a million dollars or more in super to be able to retire comfortably. This could be out of the reach for many, if not most Australians. The real answer to this question is….it depends. It will depend on several […]
In 2017 the Government announced an initiative designed to reduce the pressure on housing affordability for Australian families. The initiative, which came into effect on 1 July 2018, focussed on allowing older Australians – those aged 65 or over – to contribute up to $300,000 (and up to $600,000 for a couple) of the proceeds […]
As people approach or enter retirement, their thoughts often turn to retirement housing. For many, staying in their current home, at least for the foreseeable future, will be their preferred choice. Retirement represents a major turning point in one’s life and, for some, a change of housing could be part of that transition. Perhaps it […]
As at May 2021, the Association of Superannuation Funds of Australia (AFSA) stated there were 24.4 million individual superannuation accounts held by Australians. Every time we change jobs, and our new employer asks for our superannuation fund details so they can make compulsory contributions. If we don’t have those details at hand, our new employer […]