Superannuation Strategies: Personal
Superannuation: Tax Free Retirement Income Sydney
Superannuation is one of the most tax-effective ways of saving for your retirement. The maximum rate of tax you’ll pay on your earnings in your super fund is 15% and you’re not charged tax on withdrawals from super once you turn 60 (tax free retirement income Sydney), whereas earnings on your normal savings outside super are taxed at your marginal tax rate, which can be anywhere up to 46.5% including Medicare levy.
While you can shift your super between super funds, just remember contributions to super are almost always compulsorily preserved. This means that you generally cannot withdraw the funds until you are over 55 (increasing to age 60 if you were born after 1 July 1964) and meet a condition of release.
Superannuation as a savings vehicle can be used by everyone – you don’t need to wait until retirement to reap the benefits. EFS can provide you with any one of a range of comprehensive superannuation services appropriate to your needs.
These include:
- Designing superannuation strategies
- Reviewing your current superannuation fund and its performance
- Establishing superannuation funds
- Advising on salary packaging and super contribution levels
By reviewing everything from your cash flow needs to tax effectiveness and asset protection, and having an expert knowledge of legislation and investment products we can develop the best strategy for you.
Call us today on (02) 9266 2269, Ask a Question or Make an Appointment with one of our experienced financial advisers. Our First Meeting is Cost and Obligation Free.
