If you want to take control of your superannuation or allocated pension, then the setting up of your own superannuation fund could represent an attractive alternative.
With your own fund, you make all the investment and asset allocation decisions. This compares with the traditional superannuation funds where you have no or minimal control over your investments. Read the rest of this entry »
The recent federal budget included a number of changes to taxation, superannuation, social security and family assistance. The summary of the key benefits include:
Death Beneifts
The new simplified superannuation rules which take effect from the 1st July 2007 introduce a number of changes on how superannuation is taxed upon the death of a superannuant.
Superannuation accounts on the 1st July will be divided between an exempt component and a taxable component. The exempt component is received by the beneficiary tax-free while the amount of tax payable on the taxable component will depend upon whom it is paid to.
