Superannuation

Superannuation

How is your superannuation taxed?

Your superannuation contributions fall into two categories: concessional (pre-tax) and non-concessional (after-tax). Concessional contributions are taxed at 15% within your superannuation fund, while non-concessional contributions are not taxed within the fund. During the accumulation phase, investment earnings are taxed at 15%, but once you turn 60 and enter the pension phase, those earnings become tax-free. Understanding how your superannuation is taxed can help you make informed decisions about your future, especially when you choose LIFE Financial Planners as your trusted superannuation financial advisor in Perth.

What are the conditions of release for your superannuation?

You can access your superannuation when you reach age 65, retire after reaching your preservation age, or begin a transition to a retirement income stream. In certain cases, like severe financial hardship or specific medical conditions, early release may be possible. Knowing these conditions ensures you’re prepared when the time comes to tap into your superannuation. At LIFE Financial Planners, we provide superannuation advice to help you navigate your options and make informed decisions for your future.

How can you make the most of your superannuation?

To maximise your superannuation, it’s important to know the rules and opportunities available to you. Making additional contributions, taking advantage of tax benefits, and strategically planning for retirement can all help grow your nest egg. A well-informed approach today can make all the difference in achieving the retirement you envision. For tailored superannuation advice in Perth, a superannuation financial advisor can guide you through the process. At LIFE Financial Planners, we’re here to help you make the most of your superannuation, ensuring you’re on track to achieve your retirement goals.

Testimonials

Have been using Life Financial for 3 years now and Marijana has repeated provided us with the best possible strategies for our changing situations. We believe that the LFP team consider our financial security just as important as their other clients. Marijana, Mei and Donna have been very kind, easy to talk to and responsive to my calls and emails. We definitely recommend LFP without hesitation.

We have been seeing LFP for about 10 years now! We are so appreciative of their service and reminders to look after our financial future. It is a relief to leave our superannuation investments and insurances in their very capable hands. Would recommend them to anyone who does not already have a financial advisor.

We have been clients of Marijana and team for a few years now and they have been nothing but professional, caring and informative. Marijana is always happy to answer all of our questions and kept the process worry-free for us. We always look forward to seeing the team every year for our review. Thank you for everything you do for us 😊

We always receive Marijana and Mei’s full care and attention when needed, and cannot recommend them highly enough!

We are so incredibly grateful for the personal but very professional advice given by Marijana and Mei. After a lifetime of medical bills, transition to retirement was looking grim, but after meeting with the team at Life Financial Planners a few years ago, they really listened to our personal circumstances and we now have a clear, positive path.

We have been clients of Marijana and the team since 2006. During this time I have retired from working - a daunting time for most of us. The transition to retirement was quite smooth, thanks to the very professional advice we received. We have no hesitation in recommending Life Financial Planners to anyone seeking assistance with their financial planning needs.