Superannuation:

Superannuation is a retirement savings system introduced in Australia in its initial phase in the 1980’s and expanded substantially in the 1990’s. Often, contributions made into a superannuation fund come from the owner’s employer via compulsory employer contributions. Contributions are usually 9% of the individual’s income as required by law.

Superannuation is an investment platform that has tax benefits for the investor. Under specific conditions, extra contributions can be made by the superannuation holder. However, there are substantial penalties for those who unlawfully access superannuation early or do not comply with the strict laws regarding investment into superannuation.

The funds in your superannuation are managed by a fund manager to promote growth of your money. This could be through shares, management funds, savings accounts, international investments or a combination.

Another form of superannuation fund that is gradually rising in Australia is the self managed super fund, often referred to as SMSFs. This form allows you to have a greater say in how the fund is invested and may have a wider array of investment options including direct property, art and even vintage cars. The benefits (including tax benefits) of self managed super funds or SMSFs may be great. However, setting up and operating an SMSF can be difficult. The law provides a range of stringent and austere requirements that must be met. A breach of the law can lead to heavy and severe repercussions. It is therefore vital that you consult a Public Accountant or Lawyer before you embark on such a path.

Our Financial Advisors work in cohort with Public Accountants, Tax and SMSF Lawyers and Mortgage Brokers. With a multi-disciplinary team offering a total service, Navado provides its clients with a unique chance to take advantage of expertise and skill across an array of professional areas. For more information, explore our website or contact our office on (02) 9233 4048.

Navado Financial Advisors Pty Ltd is a Corporate Authorised Representative of Lifespan Financial Planning. A.B.N. 23 065 921 735. AFSL 229892. This webpage (and any material or wording appearing on this webpage) is provided for information only and constitutes general financial product advice. It does not take into account your objectives, financial situation or needs and you should therefore consider the appropriateness of the advice, in light of your own objectives, financial situation or needs before acting on this webpage.  When making decisions about any financial products you should obtain a copy of and consider the Product Disclosure Statement for that product before making any decision. Navado accepts no responsibility to any person who relies on the information provided on this website. We further refer you to our Disclaimer.