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Superannuation

Your superannuation is one of the most important parts to your financial future. So you want the best in the business taking care of your finances. Organic Wealth provide superannuation advice to clients across the Barossa Valley.

Why is super so important?

You might think of super as just 9.25% of your salary that you can’t access. But it’s important to remember – it’s your money, it’s just being held for you until you retire.

The main idea behind superannuation is to help you build a nest egg which you then use to create an income in retirement (or semi-retirement).

Including it as part of your financial plans can be important for a number of reasons:

  • The Age Pension may not be enough for a comfortable retirement.
  • You may spend over twenty years in retirement and your money will need to last.
  • Because super enjoys the benefits of compound interest and a long investment timeframe, it could be your largest asset by the time you retire.
  • The government is offering attractive tax incentives.

How tax-effective is super?

For most people, saving through super can be much more tax effective than saving the same amount outside super. Firstly, any contributions your employer makes (up to a certain limit) and any returns on your super are taxed at a maximum of 15%, rather than your marginal tax rate which could be as high as 46.5%.

Clever super strategies to consider

  • Consolidate your super – It’s much easier to keep track of your money if it’s in one account and, you’ll probably pay less in fees.
  • Beef up your super savings – The before-tax contributions (also known as concessional contributions) you make, and performance returns you may earn inside super are taxed at 15%. For many people, saving through super is much more tax effective than saving the same amount outside super.
  • Salary Sacrificing – This simply involves agreeing with your employer for some of your pre-tax salary to be paid directly to your super fund, before income tax is deducted. This should reduce the amount of tax you pay.
  • Spouse contributions – In many cases one spouse accumulates the lion’s share of the super. Boosting your spouse’s super can reduce your family’s annual tax bill.
  • Take a long-term view – Super is generally a long-term investment (i.e. seven years or more). And since you can’t access your money until you retire, you might want to think about using a growth investment strategy.
  • Beware of the caps – There are caps on the amount of concessional (before tax) and non-concessional (after tax) contributions you can make each year. Please contact us for more information on concessional and non-concessional caps.

Call Organic Wealth today for advice on how to get more from your superannuation.

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Barossa Valley Financial Planning

For all your financial advice needs including superannuation, personal insurance and retirement. Servicing clients throughout the Barossa Valley region.

Our financial adviser has over 13 years of experience. You’ll love what we can do for your finances!

Our personal approach sets us apart – we’re known for our no nonsense, straight forward, easy to understand advice.

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PHONE:
08 8567 3663
FAX:
08 8121 7631

EMAIL:
admin@organicwealth.com.au
OFFICE:
26 Greenock Road, Nuriootpa SA 5355
POSTAL:
PO Box 591, Greenock SA 5360

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RL Financial Services Pty Ltd T/A Organic Wealth ABN 93 164 837 683 is a
Corporate Authorised Representative no. 443392 of Alliance Wealth AFSL 449221 ABN 93 161 647 007

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