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I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC


Super Facts and Tips

Act Fast for Pre-retirement Tax Bonuses

The pleasant transition towards the retirement rules that delivers tax savings that are worth tens to thousands of dollars may only be scrapped inside May's Federal Budget.

Theo Marinis, a financial strategist, estimated that 80 percent of qualified Australians are compelled to opt for a transition to retirement by the time the door is completely shut.

He said that if you are going to do it, you must get on the ride immediately. Consult with an adviser in the following week and start the engines.

Marines mentioned that the government is hellbent when it comes to changing the super benefits, and a lot of advisers consider TSR as an easy meal.

In essence, the strategies for this involves salary sacrificing on a huge chunk of your wages within superannuation to save tax and then begin to separate low-tax super pensions that will pay you enough to compensate for the sacrificed money.

Marines elaborated that a 60-year old small business employee or nurse earning $80,000 per year and has at least $300,000 in superannuation can enhance his or her super fund each year until he or she reaches retirement by utilizing the transition to retirement approach.

An employee or manager over the age of 60 who possess $300,000 within superannuation and earn $100,000 per year can acquire an extra $8370 per year into superannuation with no additional cost, also with the use of transition to retirement strategy.

Bryan Ashenden, BT Financial Group's senior manager of advice knowledge and strategies reported in the SMSF Association national conference of the previous month that changes towards the transition to retirement regulations, are almost inevitable.

He said that people who are eligible to indulge into one as fast as they can adapt to any changes. The ideal time to do this would be before budget night since they are going to it just about the same time you can first hear of it, and they can always be consistent in their decision.

If history has told us anything about super, it is the fact that there would always be some alterations in the future and most circumstances anything that was set can become antiquated. They will not force you to unwind it.

Marins adds that you can try to enforce a transition to retirement strategy by yourself although DIY can be risky regarding sophisticated tax planning.

You can find out more about this news at www.australiansuperfinder.com.au

All information on this website is of a general nature only. We have not taken into account your financial situation, needs or objectives. You need to make up your own mind and ascertain yourself if it is right for you. We recommend you read the product disclosure statement(s) and the financial services guide before making any financial decision.

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