As an example, for many retirees the amount of tax that is paid out of their superannuation when they die has not been properly considered. For large superannuation balances it can be an enormous tax.
If you do not know how much of your superannuation will be taxable in the event of your death, you may need to do some research?
The removal of the work test for non concessional contributions for those under age 75 might create an opportunity and could allow some retirees a second chance to completely eradicate the superannuation tax problem for their estate.
For large superannuation accounts it may not be a quick fix and might require some strategic financial planning and advice. If it is an issue that does not affect you because of your careful planning, it might affect someone you know?
Hot TIP #1: A recontribution strategy and some ongoing strategic advice might be something that you or someone you know needs to seriously consider to ensure the tax office does not take a big bite out of your superannuation pie.
Hot TIP #2: Your children might thank you for thinking of them?
Hot TIP #3: Never make decisions without advice.
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