From 1st July 2013 onwards, individuals exceeding the upper cap of their concessional contributions will find the extra amount included in their assessable income. This amount will be chargeable at the marginal tax rate and will also attract an interest.
Category: Feature Archives
Automated Financial Advice for Super Fund Members
While there is no substitute for face-to-face contact, Super fund members may soon wake up to an alternative. Yes, in not too distant a future, fund members may begin to receive automated financial advice in “bite-sized chunks”.
Planning Your Life Ahead before Retirement
If things do not go awry, retirement is a phase of life that can bring a lot of creative happiness, satisfaction, and peace. While it can be a really fulfilling time allowing us to find pleasure in small old-world things again, retirement can also hinder you in one special way — financially!
How to Avoid Being Duped By SMSF Frauds
For all its achievements, the SMSF industry has never quite been able to quash the tag of a “volatile industry”. This said, no one can contest how in quick time it has siphoned off a good deal of business from the other industry funds often leading to caustic attacks from the latter.
Should You Consider Working at Age 70?
Let me start with a couple of statistics. Somewhere between 12% and 13% of working adults believe they will have to work till eternity. You may presume that this is a little defeatist. The second one may seem marginally better — a majority of us believe we will have to work till 68 years of age to keep ourselves in line with “happy retirement”.
What Hinders Effective Retirement Planning
The thought of retirement brings varied emotions. Yes, there is the satisfaction of a life spent with working shoes on and work in itself is a redemption we know. There is also the eager anticipation of days which will be spent doing things we did not find time for earlier. Amidst all these, there is also the thought of the precariousness which lies ahead in terms of finances. Let us face it — we Australian retirees do not have enough in our retirement kitty to think of a decent post-retirement living. So what’s going wrong?
