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

December 9, 2016 · 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.

Lowering the threshold for Division 293 tax to an annual income of $250,000

December 8, 2016 · Published by RJS Wealth Management Pty Ltd

Division 293 reduces the tax concession on superannuation (super) contributions for individuals with an income greater than the limit in place. From 1 July 2017, this limit will decrease from $300,000 to $250,000.

Should you give kids cash for Christmas?

· Published by RJS Wealth Management Pty Ltd

For many time-poor parents, grandparents, aunts, uncles or godparents, the option of giving cash at Christmas is a godsend. But be careful, there are downsides to giving cash too. Unsupervised Christmas cash gifts will be quickly spent on low value items that won’t be appreciated. Give kids cash, but with care.

Do I need an estate plan?

October 28, 2016 · Published by RJS Wealth Management Pty Ltd

If you don’t watch daytime television, you may be surprised to hear that it is brimming with ads for funeral plans and life insurance. Depressing, isn’t it? And if you’re healthy, gainfully employed and have your whole life ahead of you, then there is plenty of time to put an estate plan into place… right? Sorry, WRONG! The reality is, death is an unpleasant fact. In fact, 147,678 deaths were registered in Australia in 2013. And they weren’t all as a result of old age.

What women risk when it comes to retirement

· Published by RJS Wealth Management Pty Ltd

The status of women in twenty-first century Australia is better than ever before in history. Women in 2016 are better educated, paid more and hold more high level corporate positions than ever before. But in the face of such progress there is still a significant salary gap (24% at last calculation according to the Workplace Gender Equality Agency –WGEA1).

Round and round we go

· Published by RJS Wealth Management Pty Ltd

It is that time in the cycle that Listed Property Trusts (LPT's) rear their ugly heads once more and encourage me to revisit the them.

Finding the path to comfortable retirement

September 27, 2016 · Published by RJS Wealth Management Pty Ltd

Australians continue to ignore the need to save for their future according to the recent IPSOS report “Australia Today” commissioned by MLC. Shining a strong spotlight on the failure of many Australians to adequately plan for their future, the report found that 66% of Australians participating felt unprepared for retirement, with only 15% feeling as though they had their retirement plans under control1. But while many Australians continue to ignore their future, what exactly is the financial reality? How much do we need to safeguard our retirement years, not just “getting by” but living in comfort, enjoying our days and remaining active well into our 70’s and even 80’s?

When up is down and down is up

· Published by RJS Wealth Management Pty Ltd

It is now 6 years since the 'tizz' that was the GFC derailed the global economy and I feel more confident in my belief that history repeats itself. It is all well and good me delving into history books to find examples to quote but, sadly, they are history so can be ignored by many. However, having a number of these events occur in one's own lifetime does help confirm the proposition. I have no doubt that, like me, someone in the future will be seduced by the 'this time it is different' brigade until eventually, during their lifetime, events will remind them that it isn't different.