Estate planning is one of the most important, yet frequently overlooked, aspects of managing your financial affairs. It’s more than just drafting a will; it’s a comprehensive process of arranging your affairs to ensure your assets are managed and distributed according to your wishes, both during your life and after you’ve passed on. For Victorians,...
For most Victorians, your superannuation is your biggest asset after the family home. You’ve worked hard, and dutifully contributed a portion of your income, watching your nest egg grow. But there’s a hidden tax trap that many Australians are completely unaware of—one that could see your adult children lose a significant chunk of their inheritance...
The proposed Division 296 tax, targeting superannuation balances over $3 million, presents a significant challenge for many Australians. This additional 15% tax on investment earnings above the threshold effectively doubles the tax rate on those earnings to 30%, making sophisticated mitigation strategies a necessity for high-balance super members. While the legislation has lapsed and will...
