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How the best financial planners create wealth and add value

February 17, 2017 · Published by RJS Wealth Management Pty Ltd

How does a financial advisor provide value? What are you missing out on if you don’t use one? Without a qualified financial planner, your future financial position may be below its potential and/or haphazard. Not to mention the possibility of leaving you and your family at risk of potential financial devastation.

When it comes to investing for retirement, are women more savvy than men?

December 9, 2016 · Published by RJS Wealth Management Pty Ltd

The last thing we want to do is create a gender divide around the subject of investing for retirement. But men and women are different, and without generalising too much, it’s fair to say that they do many things differently. Planning for retirement is no exception.

Do the superannuation reforms affect me?

· Published by RJS Wealth Management Pty Ltd

The May 2016 budget announced key superannuation (super) changes that have come under much scrutiny. With a few subsequent amendments, the Bill was put before parliament in late November and has now been passed. These new measures were designed to improve the sustainability, flexibility and integrity of Australia’s super system, most of which come into effect from 1 July 2017.

ATO Rolls Out Stricter Measures against False Tax Deduction Claims

October 10, 2019 · Published by R J Sanderson And Associates Pty Ltd

Those who can not provide evidence of their claims will not only be denied the deduction, but may even be penalised for failing to exercise diligence with their tax returns.

Introducing a $1.6 million transfer balance cap

December 9, 2016 · Published by RJS Wealth Management Pty Ltd

Designed to limit the total amount of superannuation (super) savings that can be transferred into a tax-free retirement account, the $1.6 million transfer balance cap (indexed for inflation in $100,000 increments) is applied to each individual and will take effect from 1 July 2017.

Reducing the concessional contributions cap to $25,000

· Published by RJS Wealth Management Pty Ltd

A concessional contribution is a before-tax superannuation (super) contribution which includes both salary sacrificed and employer superannuation guarantee contributions. Or for the self-employed or not employed, it is a tax-deductible super contribution.

Increasing income eligibility for the spouse contribution tax offset

· Published by RJS Wealth Management Pty Ltd

You may be able to claim an 18{89774503f1dc5a8067a215bf11c503ad6eecdd9fbdfb7beae4875fba6258e357} tax offset on super contributions of up to $3,000 you make on behalf of your non-working or low-income-earning spouse. From 1 July 2017 the spouse contribution tax offset income limit will increase from $13,800 to $40,000 per annum.

Reducing the non-concessional contribution cap to $100,000 pa

· Published by RJS Wealth Management Pty Ltd

A non-concessional contribution is an after-tax contribution made to superannuation (super). The 2016 Federal Budget originally proposed a $500,000 lifetime cap on non-concessional contributions. This measure has now been scrapped and replaced with a $100,000 per annum non-concessional contributions limit (reduced from $180,000) which will take effect on 1 July 2017.

Abolishing the anti-detriment payment. Is the death tax back?

· Published by RJS Wealth Management Pty Ltd

An anti-detriment payment enables the refund of contributions tax paid during a fund member’s lifetime, which is then paid as a lump sum to certain dependent/s (spouse, former spouse, child including adult child) of a deceased fund member.

Removing tax exempt earnings for transition to retirement income streams

· Published by RJS Wealth Management Pty Ltd

A transition to retirement (TTR) pension allows you to reduce your working hours but not your lifestyle by using TTR pension payments to supplement your income. From 1 July 2017, tax exemptions on super fund earnings for transition to retirement pensions will be removed.