How to boost your super balance and maximise your benefits
In July 2007 Superannuation will change, and there are some key issues you should look at now.
1. If you’re over 60 – Good news - Superannuation benefits paid from a taxed fund as a lump sum or an income stream (ie- a pension) will be tax free.
2. Reasonable Benefit Limits (RBLs) will be abolished.
3. You will have greater flexibility as to how and when you draw down your superannuation in retirement. Superannuation funds are no longer forced to pay benefits.
4. Self employed can claim a full deduction for superannuation contributions.
5. You can make deductible superannuation contributions up to age 75.
What do you need to do now?
With RBL abolished, you can have as much as you like in Superannuation, the catch is, the amount you place into Superannuation each year will, from July, be restricted.
To maximise your benefits, Act now… Find out how you can boost your super balance before the July changes take place.
Don’t wait til May or June… Speak with your advisor now and be ready.
Remember the early bird doesn’t just get the worm… He also has time to sit back and enjoy the meal.