Superannuation is the most tax effective method of investing in Australia. Understanding how it can be used, both before and after retirement, can have a significant impact on your overall wealth plan.
Although we all have superannuation, many people still don’t fully understand how super works or the ways it can be put to use to maximise personal wealth. The table below is a comparison that shows how your income is taxed both inside and outside of the superannuation environment.
The tax incurred is significantly different between investments held inside and outside of superannuation. And the compounding effect of these differences can be enormous over time. But this is just the most obvious benefit to holding investments inside super. There are a number of strategies that can help you take advantage of these concessions, even before you retire. At Nexus, we can identify these strategies and assess them against the backdrop of your entire wealth plan.
A self-managed superannuation fund (SMSF) gives you access to financial growth strategies that aren’t available with industry or retail super funds.
If you’re disappointed by the performance of your retail or industry superannuation fund, an SMSF can provide more flexibility, control and investment choice.
There are many obligations and responsibilities for the trustees of a self-managed superannuation fund and significant criminal and financial penalties can apply if these responsibilities aren’t met. It’s important to get professional advice from a qualified financial adviser before setting up an SMSF.
At Nexus, we have highly-skilled and experienced wealth managers to offer advice on establishing and managing SMSFs. When you establish an SMSF, you become the trustee of that fund and responsible for meeting legal obligations. This is a specialist area of knowledge that we can assist with.
© 2018 Nexus Private Wealth Management
Nexus Private Wealth Management is made up of the following companies: Financial Planning Advice is provided by Nexus Private Financial Planning Pty Ltd – ABN 58 159 649 055. Authorised Representative of Madison Financial Group Pty Ltd (MFG) – ABN 36 002 459 001 (AFSL No. 246679) | Investment Property Advice is provided by Nexus Private Property Servies Pty Ltd – ABN 52 159 828 038 (REA no. 3565454) | Lending services are provided by Nexus Private Lending Services Pty Ltd – ABN 37 169 705 926 (ACL no. 463839) | Accounting and Taxation services are provided by Nexus Private Accounting Services Pty Ltd – ABN 84 169 784 329 (RTA no. 25331778)
Information contained within this website is general advice only. We have not taken into consideration any individual circumstances and suggest that no person act on the basis of this information without obtaining professional advice as to how it applies to their own personal circumstances. All content appearing on this website is proprietary, copyrighted and owned or licensed by Nexus Private Wealth Management. Any unauthorised use of content from this website is strictly prohibited. All rights reserved.