Withdrawing part of your superannuation fund balance and then paying it back into the account, known as a recontribution strategy, may sound a little strange but it could deliver a number of benefits including reducing tax and helping to manage super balances between you and your spouse.
This episode is about using your superannuation balance and the rules regarding contributions to tax effectively set up the non-tax dependant adult children of your family if you pass away.
What you’ll learn:
- (0:14) Understanding Superannuation Recontribution Strategies
- (0:56) General Advice Disclaimer: Financial Planning Episode
- 2:05) The Composition of Your Super: Tax-Free vs. Taxable Components
- (3:12) Implementing Recontribution Strategies: How They Work
- (4:07) Eligibility and Considerations for Recontribution Strategies
- (5:20) Benefits for Non-Tax Dependent Beneficiaries
- (5:20) Estate Planning and Recontribution Strategies for Super Death Benefits
- Loads More…
Links and Resources:
Australian Taxation Office (ATO)
Australian Securities and Investments Commission (ASIC)
#SuperannuationStrategies #FinancialPlanning #TaxEfficiency #EstatePlanning #RetirementSavings