Superannuation is a tax effective way to save for your retirement. Your money is pooled with other members’ money and invested on your behalf. Generally you will not be able to access this money until you retire. Your employer will make contributions to your super fund and you can top it up with your own money.
Changes in the economy, government legislation and market conditions may have a material impact on achieving your superannuation and retirement needs and objectives. Through Abbotts Wealth Management, we can help you assess how these changes impact you, and help you control your financial future by developing a financial plan that helps you meet your objectives.
As qualified and licensed financial advisers, we can develop and recommend appropriate superannuation strategies to help you meet your retirement goals and objectives like: consolidating your superannuation funds, making additional super contributions and commencing transition-to-retirement or account based pensions. We have researched and analysed superannuation products for our clients that we hope will provide them with risk-adjusted return outcomes that meet their objectives.
We can also provide Self Managed Superannuation Fund (SMSF) advice and help Trustees meet their legal obligations for running the fund by reviewing their portfolios to ensure that they are in accordance with the fund’s investment strategy.
Investment options for superannuation are as broad as the entire investment market in Australia. However there are complex rules that need to be considered when deciding how your superannuation fund moneys should be invested. The Abbotts Group through its licenced financial planning division Abbotts Wealth Management can provide comprehensive financial advisory services in connection with superannuation investment advice.
While death and taxes may be the only certainty in life, it doesn’t have to mean one leads to the other. It is often the case that far too little effort is put into managing taxation consequences of estate planning, but not at Abbotts. Our clients build their wealth for both their families and themselves, and appreciate that this process of wealth building is designed to be intergenerational. We specialise in estate planning from a variety of fronts, including strategic taxation planning. We also understand the unique dynamics that are associated with intergenerational family planning and we can help you navigate the often difficult and stressful process of deciding how your family should be provided for from your life long work and effort.
Superannuation is one of the best ways to save for retirement. We provide comprehensive advice on the rules and options for contributing to superannuation as well as the tax and legal obligations that relate to superannuation.
Superannuation funds enjoy one of the lowest tax rates in the Australian taxation community. We can explain to you the regulations surrounding superannuation funds and the contribution limits that apply, providing advice on the implications to you if excess contributions are made.
We are also able to guide you through the strategic options available regarding the claiming of deductions on superannuation contributions.
As the Trustee of an SMSF, you are responsible for the accuracy of tax and super records held by the fund. This includes lodging an annual return after the finalisation of a yearly audit – reporting on regulatory information and member contributions, among other things.
As a registered SMSF auditor, Abbotts is able to carry out the annual financial and compliance audits of an SMSF’s operations. All relevant reporting requirements can be satisfied to ensure your SMSF has complied with the SISA legislation and regulations in the SISR. We can also explain the record keeping requirements of SMSF entities, and show the time frames each document should be held for.
If it is all about the “End Game”, then getting your hard earned retirement savings out at the right time for you is certainly one of the most important decisions you will make in your life. Accessing your retirement savings in the most efficient and tax effective manner that meets your life objectives is not a plan to be approached lightly. Abbotts Wealth Management and Abbotts Chartered Accountants specialise in retirement planning and we can help you plan for your pension stream with the care and professionalism that such an important aspect to your financial lives demands.
There are a myriad of ways your wealth invested in superannuation can be passed onto your family survivors, depending on their age, investment skills or personal situation. You may wish to keep their life uncomplicated and merely provide for your pension stream to flow onto your dependents. With careful planning and documentation your retirement funds can be redirected to your dependents with highly efficient taxation and other government support based functionality.
It is often said that aside from the Tax Act, the most powerful legislation in Australia is that dealing with family law. Management of the legal and financial minefield associated with marital breakdowns is complex and often stressful, but there should be no reason for it to produce unfair or unreasonable taxation outcomes. There are a myriad of complex taxation rules surrounding family law and superannuation, but with proper professional advice provided by the team at Abbotts, our clients at least have the opportunity to mitigate some of the financial pain associated with these issues.
Our clients often come from diverse backgrounds and move to and from Australia for their work and living needs. There are complex rules surrounding superannuation that impact of people entering or departing Australia’s taxation jurisdiction. Abbotts has extensive experience in managing superannuation strategies for foreign residents.
Australia has a variety of dual tax agreements that deal with foreign pension streams and whether you are a departing tax resident or an arriving foreign resident with existing foreign pension streams Abbotts can assist you to maximise your strategic opportunities in connection with your foreign pension entitlements.
Chris has been a part of the Abbotts Team since 1987 and has worked in the accounting profession since 1983. He qualified as a Chartered Accountant in 1991 and was appointed as a Partner in Abbotts Chartered Accountants that year.
David is our Tax Specialist and has worked in the tax and accounting field since 1982. David spent several years early in his career working in the ATO. He joined the Abbotts team in 1997 and became a Partner of the Practice in July 2000.