INVESTment and superannuation
10 SUPER SIMPLE Q & A’s ABOUT SUPER!
Superannuation should be what it is in the name - SUPER! We’re sure you see super (especially if you’re in your 20’s) as another unattractive ‘expense’ you’re forced to pay - kind of like tax. But don’t forget that super is YOUR hard earned money that is going to allow you to retire earlier and enjoy life when you want!
SHOULD YOU BORROW TO INVEST IN SHARES OR PROPERTY?
Borrowing money to invest in property or shares could help you move forward financially. You may not have the cash to buy an investment property outright so investing in shares can create new opportunities for accumulating assets. There may also be tax benefits if you’re on a high marginal tax rate.
HIDDEN COSTS OF BUYING PROPERTY
We know that in order to purchase a house, we need to save for a deposit. But bear in mind, there are other expenses that you need to be aware of when purchasing a house.
SUPER OPPORTUNITY FOR FIRST HOME BUYERS
Eligible first home buyers can save for their deposit in the concessionally taxed superannuation system, using the First Home Super Saver Scheme (FHSSS or scheme). If you qualify, this scheme may help you accumulate a larger deposit when compared to saving outside super.
SUPER CHOICES FOR EMPLOYEES
If you earn most of your income from employment, you may want to make personal deductible contributions – instead of, or in addition to, salary sacrifice. Since 1 July 2017, employees have been able to claim personal super contributions as a tax deduction.
A FEW INTERESTING FACTS ABOUT RETIREMENT
Given the financial demands of everyday life, planning your retirement may be a relatively low priority. You may also think that you have plenty of time to plan. But before you put off planning for your retirement any longer, here are some key facts you should consider.