Superannuation is part of the government's plan to ensure an adequate income for when individuals retire by encouraging them to save for their retirement. Forrester Korfiatis can assist you with your superannuation requirements. We have expertise in DIY super.
Benefits of DIY Super
- Choice of investments - you make your own investment decisions for your superannuation fund for the best returns.
- Maximum tax payable on contributions and earnings in a Self Managed Superannuation Fund (SMSF) is 15%, this can be offset by imputation credits, currently at 30%.
- SMSF can invest up to 100% in business real property (family business premises owned by members).
- Earnings in the pension phase are tax free.
- On retirement, assets can be rolled over into the pension phase & any capital gains on these assets will have 0% tax.
- SMSF assets in most cases are protected from bankruptcy.
Services we offer
Forrester Korfiatis offers specialist superannuation advice in relation to:
- Establishment of your fund - the trust deed sets out the rules of the fund, and who the trustees are. The fund needs to also be approved by the ATO.
- Documentation of the fund's investment strategy, which is a set of rules, behaviours or procedures, designed to guide an investor's selection of an investment portfolio. Usually the strategy will be designed around the investor's risk-return trade off, some investors will prefer to maximise expected returns by investing in risky assets, others will prefer to minimise risk, but most will select a strategy somewhere in between.
- Administration services - keeping accurate and accessible records that explain the transactions and financial position of the fund.
- Allocated pensions - when you retire, you can draw a pension from your super fund to take advantage of tax concessions, including tax on earnings of 0% tax. Ask us about retirement strategies that can minimise the tax on your income stream.
A DIY super fund can be a great way to minimise tax and increase your personal income at time of retirement. Let us tell you more, contact us TODAY!
