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Superannuation Schemes & Strategies

In most cases employers are required (under the Superannuation Guarantee Act) to contribute to a fund for each employee to build a savings nest egg for their retirement. In addition, the  Australian government provides significant tax incentives to encourage all residents to use superannuation to save for their retirement.

Superannuation options are definitely one of your most important financial considerations. The many alternative Public Offer, Industry Based and Self Managed super investment choices can often appear contradictory and therefore seem quite confusing. Should you stay in your existing fund or opt to roll over into an alternative?

Whilst most accounting firms will generally advise you to invest in a self managed superannuation fund (SMSF), contradictory advice from your financial planner more often recommend a public offer super fund. LBW & Partners will put you in the advantageous position of becoming the recipient of balanced and impartial guidance from ethical professionals that are both accountants and financial planners. You will have the option of reviewing all your choices in the light of an LBW appraisal of your current circumstances, future aspirations and needs.

To secure your obligation free consultation e-mail, phone (+61 2) 9411 4866 or complete an on-line enquiry right now to request guidance from an LBW superannuation advisor who can review your investment needs, or simply ask for a financial planner's expert advice on your best super investment choices.

Superannuation strategies & retirement planning

You can increase the probability of accomplishing your retirement goals by putting in place an appropriate LBW superannuation strategy, as ensuring that you have adequate superannuation may be the difference between a secure and comfortable retirement or one fraught with financial concerns.

Superannuation is an acknowledged tax-effective saving strategy with taxation concessions that include:

  • tax deductions if you are self employed
  • means tested rebates if you are an employee
  • 15% taxation on capital gains of superannuation fund earnings

Superannuation can provide you with benefits beyond savings, like access to temporary or permanent disability protection. Particularly attractive when your insurance premium is paid from pre-tax employer or deductible member contributions. In addition, most superannuation monies are protected from creditors.

You do not have to retire to commence withdrawing your superannuation benefits either, by taking advantage of a transition-to-retirement pension (TTR or TRIP). You are able to continue in part-time, full-time or even casual work and still gain access to your pension's tax advantages, particularly tax-free earnings, tax-free pension income for over 60s, or 15% pension rebate on pension income if you are under 60 years young. Your individual combination of salary and TRIP will depend on your age, your tax position, your salary level, the size of your super benefit and your income needs.

consultation with your LBW Financial Adviser will enable you to explain your needs, review popular TRIP strategies like salary sacrifice into your super fund up to your concessional (before-tax) contributions cap, and replace that income with tax-free (if over 60) or concessionally taxed pension payments (if under 60).

There are many issues when considering superannuation offerings, a comparison of fees, investment options and insurance are important. There are other areas of difference you will need to understand, particularly when considering an SMSF. Flexibility of investment choice, tax efficiency and regulatory control are just some of the technical differences between SMSFs and their commercial competitors.

Considering your alternative superannuation options is much easier and your choices are far clearer when you can rely on unbiased, ethical advice from a specialist LBW superannuation strategist that has only your financial wellbeing to consider. LBW financial advisers are superannuation specialists and have a precise and detailed understanding of current and pending legislation, investment techniques, management methodologies and structural optimisation. You can have an LBW superannuation expert investigate, review and provide you with a suitability appraisal of your current super fund arrangements. You will receive advice on whether you will benefit from staying within your current SMSF, your industry fund or a public offer super fund.

Make contact via e-mail, phone (+61 2) 9411 4866 today or complete an on-line enquiry right now to secure an obligation free consultation, so an LBW partner can review your superannuation needs and give you the superannuation, investment and capital gains tax advice that only Australian Chartered Accountants and CPAs are qualified to provide.

LBW & Partners is a top Sydney chartered accountancy, auditing, business consulting and financial planning firm providing corporate business strategy, personal accounting services and tax planning advice to professionals. LBW's CPA and chartered accounting services cover all aspects of your Australian business' taxation including capital gains, payroll tax plus tax effective asset management and company audits. Unlike most Sydney accounting firms, LBW also extends personal tax minimisation, wealth creation and self managed superannuation advice in addition to corporate and management accounting needs for businesses on Sydney's North Shore and across Australia.

Every care has been taken with the information provided on this website. However, LBW Financial Services Pty Limited reserves the right to correct any errors or omissions. This website is for information purposes only and should be read together with your selected Product Disclosure Statement (PDS). Should there be a discrepancy between this website and the PDS, the PDS will be the final authority. Advice contained in this website is general and does not take into account your personal circumstances or investment goals. Therefore, you should not rely on this web pages content when making personal investment decisions. For advice that takes into account your own personal circumstances, you should talk to a LBW professional investment adviser & financial planner.

LBW Financial Services Pty Limited trading as LBW Wealth Management is a Corporate Authorised Representative of Wealthsure Financial Services Pty Limited (AFSL Lic. No. 326450).

LBW & Partners, Sydney Australia
Personal chartered & business accounting services.  Financial advisors & superannuation planning.
Ph: (+61 2) 9411 4866  Email: mail@lbw.com.au