If that worked, the tax department wouldn't need to get people to pay their taxes; you could just 'think about' it for them instead.
Your superannuation is your forced savings for your retirement, so it’s important to understand these two key features:
If you plan on leaving your superannuation to your now adult kids when you pass away, there's a strong possibility your super death benefit payout will be hit with tax.
Thankfully, an annual assessment run by the ASFA can help you start your thinking about what you want to achieve in your retirement.
Then we can help you get there.
While this is a very complicated task (and perhaps the stuff of urban legend) it's worth setting the story straight; so you know where you stand with your super.
Terry was looking to buy a 2 bedroom home in Sydney and came to us to arrange the investment mortgage. As the property was 17 years old, there had been some renovations completed inside the unit and some repairs were still being made to the common property.
As the property was selling at auction there were a number of things to consider, particularly because Terry was buying into an existing strata plan property.
Here are some of the things we discussed.