The good news on Superannuation. Your superannuation has always been a very tax effective vehicle to accumulate wealth. Now it's even more so, as the Federal Government continues to make positive reforms to superannuation.
The new rules. If you're over 60 years of age and in the 'pension phase' the following tax advantages will apply from 1 July 2007:
- No tax on earnings within the superannuation fund itself
- No capital gains tax payable on profit realised on growth assets within the fund
- Full refund to the fund of all unused 'franking credits' by the ATO
- No tax on pension drawings
- No tax on lump sum withdrawals
- Abolition of Reasonable Benefit Limits (RBL's)
Start planning your retirement. No matter what stage in your working life you are at, it is important you think about retirement planning. It could make a huge difference to your future.
- Do you know your options for drawing the most tax effective income in retirement?
- Do you need advice on where to invest retirement assets?
- Has your superannuation been reviewed in the past 2 years?
- Do you know if your current superannuation will be sufficient to maintain your lifestyle in retirement?
REES FINANCIAL PLANNING IS AN AUTHORISED REPRESENTATIVE OF INTEGRITY FINANCIAL PLANNERS PTY LTD Australian Financial Services Licence Number 225051
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