Cedar Wealth - Financial Advisers Perth

We often get asked about tax effective investment planning, education funding, superannuation fund contributions.

In this brief commentary, we provide some general information – if you would like to know more about these aspects, contact us on the link below.

How would you like to bolster your superannuation when you are close to retirement, but you have maxed out the superannuation concessional contribution caps.
Enter an investment bond.

This structure allows you to take post tax income and invest in what is called an investment bond.
The proceeds are taxed within the structure and the income from the investment is not added to your annual tax return, so there is no extra tax to be paid in your personal capacity.
At maturity the investment is tax free, after 10 years. This is approved by the Australian Tax Office.
For example, you can then contribute to super using the non-concessional rules or you could pay down some debt, take a much longed for holiday, give the kids a leg up in life or other things, depending on what suits your personal situation. There is no prerequisite to use the funds for anything specific.

How would you like to provide for your children's education?

One way is using the same structure mentioned above you can
put away money every month to provide for your children's education or giving them a kick start in life when they have finished school, with the proceeds of the investment being tax free at the time of withdrawal after 10 years.

Have you used the superannuation catch up carry forward contribution rules?

These rules allow you to use the unused contributions over the past five years to contribute into super and claim a tax deduction.
A great way to bolster your superannuation and also claim a tax deduction if you meet all the rules and criteria.
Would you like to know more about different planning options and good tax planning?

Contact us below.
https://www.cwmm.com.au/general-connect/

https://www.cwmm.com.au/licensing-and-general-advice-warning/

General- Connect – Cedar Wealth

Have You Insured Your Biggest Asset?

Becoming seriously ill is possibly the worst thing that can happen to a working person – and as you would know from your experience it does happen. Many Australians don’t have any personal income protection insurance.

What is Income Protection Insurance?

Income protection insurance is a practical and inexpensive way to make sure hard-working families are not at risk of quickly sliding into financial strife by providing a monthly benefit if the insured person is injured or sick and can’t work.

A person’s ability to earn a living is often their single greatest asset yet Australians are insuring their cars and houses instead of their incomes.

Income Protection Insurance can often be accessed through a superannuation fund, but this has certain drawbacks and limitations. Or you can consult with a Life Insurance Advisor.

One of the significant benefits of the product is that if it is bought separately to superannuation, it is a tax-deductible cost, which can significantly reduce its impact on the household budget.

Regardless of the cost, the key benefit of income protection is the peace of mind that if a family are unlucky enough to have their primary income earner struck down with a prolonged illness or injury then they should be able to maintain their current lifestyle while that family member is on the long road to recovery.

They know that their insurance is looking after them once any sick leave has been exhausted and there is no more salary available.

A consultation with a Cedar Wealth Life Insurance Advisor can help ensure that your financial and lifestyle goals are properly protected with a risk protection strategy.

Where to from here?

Contact us below.

https://www.cwmm.com.au/general-connect/
https://www.cwmm.com.au/licensing-and-general-advice-warning/

Have you made the most of the superannuation catch up carry forward provisions and claimed your tax deduction along with it?

Contact us at www.cwmm.com.au to discuss the options of they suit your personal circumstances.

Cedar Wealth We do this by working with you on your Authentic Wealth Plan, tailored to you and your circumstances, not anyone else’s. This is achieved by developing a strategic wealth plan requiring focus and discipline, to achieve program goals.