| Tip of the Month
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"With interest rates starting to rise once again it is most important to take advantage of the low interest rate environment and reduce your non deductible household debt. On a $350,000 home loan at current interest rates an increase of $100 to your fortnightly repayments may reduce your loan term by up to 7 years and save you over $90,000 in overall payments to your bank.
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Claire Williams
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| Contribution
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Re-contribution strategy is one of the ways to reduce taxable component of the member balance and hence minimise tax paid applicable upon payments to the beneficiaries |
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ATO
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| Superannuation payout
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A member can get access to their superannuation earlier than the preservation age on the basis on TPD (Totally and Permanently Disable) and/or Terminal Illness. The illness or injury does not have to be work-related. It covers illnesses such as cancer, mental illness, AIDS, heart attack etc. But the payout depends on trustee’s discretion. |
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Anna, Claire
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