Patane Accounting Pty Ltd is a CPA Practice
Findings of a study conducted by research firm SuperResearch reveal that in 2014 investment in international shares provided superannuation accounts with impressive returns. Superannuation funds reported an average 7.5% return in 2014, with international shares providing a significant contribution. The falling Australian dollar, which tumbled almost 8% against the USD last year, has also benefited…
When Australians reach retirement age, they have the option of withdrawing their superannuation as a lump sum or taking a pension that will be a reliable source of income for a number of years. Taking out your superannuation as a lump sum can be incredibly tempting, especially if you reach retirement age with some debts…
Thinking about your superannuation might be the last thing you feel like doing this holiday season, but you should take this opportunity to get it out of the way! Setting aside just one hour to organise your superannuation will pay off down the track, and it will stop that little voice that occasionally keeps you…
People often overlook the advantages of making significant concessional contributions to their superannuation. By investing large sums of money inside your super, as opposed to assets outside of your super, you may end up saving a significant amount on your tax bill. Concessional superannuation contributions are voluntary amounts that you contribute from your after-tax income.…
The superannuation gap between men and women in Australia is troubling, especially when women’s longer life expectancy is taken into account. The super gap is slowly closing amongst younger generations. However, the superannuation account balances of women over 55 continues to lag behind their male counterparts. When going through a divorce, superannuation is treated as…
Robert Merton, who was awarded the Nobel prize for economics in 1997, has recommended that the Australian superannuation system needs to rethink the way that it communicates with people about their retirement savings. Merton, who has spent the last decade studying retirement savings systems, believes that the Australian system is too focused on lump sum…
One of the most exciting things about self-managing your superannuation is the ability to make your own investment choices. In SMSFs, there are also a lot more investment options available, and it can be tempting to get a little creative with your portfolio. However, unless you are extremely confident and familiar with the investment, or…
The Mercer Global Pension Index, a comprehensive annual report that rates the quality of international retirement schemes, has placed Australia’s superannuation system as the world’s second best. Denmark was ranked number one, with the Netherlands, Finland and Switzerland rounding out the top five. Australia, Canada, Chile and Singapore were the only non-European states to make…
There are a lot of different types of superannuation funds, and many people to not know what the differences between them are. We have compiled this guide to explain the different types of superannuation and details the advantages and disadvantages of each. MySuper MySuper accounts are a new type superannuation account that is a ‘no-frills’…
Over the past week, the government has confirmed its decision to freeze the compulsory superannuation guarantee at 9.5% for the next seven years. It will rise to 10% in 2021 and then increase incrementally before plateauing at 12% in 2025. Previous to this, the superannuation guarantee was planned to reach 12% by the 2019/20 financial…
