Super is even more super
Superannuation is still one of the best ways to accumulate wealth and save for your retirement. The main reason, of course, is the favourable tax treatment.
When you invest in super, earnings are taxed at a maximum rate of 15%, often much less in many cases. A low tax rate means your money can grow faster than your other investments that are taxed at a higher rate.
Depending on your circumstances, there may be some other great incentives – like claiming a tax deduction for your own contributions or receiving a co-contribution from the Government.
From 1 July 2007, generally all benefits received from a taxed super fund at age 60 or over will be tax-free.
However, to get the most out of superannuation you need to be “super smart”. You need to understand how the rules work and use them to your advantage. You also need to keep up with the latest rule changes so you can take appropriate action.
Steve Blizard at Roxburgh Securities can discuss a range of strategies that could help you achieve your lifestyle and financial goals. Each of these strategies has long-term implications, so by making the right moves now, you may benefit in the future.
Roxburgh Securities specialises in personal, employer and family self-managed super funds.
Phone [08] 9379 3555 or email steve@blizard.com.au for an obligation free appointment to review your super funds.
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