Super Fund options for Aussie on-shoring
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Join Date: Nov 1999
Location: Sai Kungah
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Super Fund options for Aussie on-shoring
A friend of mine has been looking at some options for setting up a super fund account for the up-coming (maybe!) on-shoring.
Apparently she has been impressed by the account that is provided by TWUSUPER. Costs are very low ($1.5 per week, plus 0.58% per year) for the cash option. That compares with Macquarie's Super Plan that has costs of 3.5% per contribution and a management fee of between 1.23% and 2.7% per year.
I'm sure that there may be other ideas out there...
NC/404?
Apparently she has been impressed by the account that is provided by TWUSUPER. Costs are very low ($1.5 per week, plus 0.58% per year) for the cash option. That compares with Macquarie's Super Plan that has costs of 3.5% per contribution and a management fee of between 1.23% and 2.7% per year.
I'm sure that there may be other ideas out there...
NC/404?
Join Date: Dec 2007
Location: Australia
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Self managed super fund - pay yourself?
Why wouldn't you set up a self managed super fund (SMSF) then all the costs are paid to yourself?
You typically need about $250k to break even.
Lots more options as well for salary sacrifice.
You typically need about $250k to break even.
Lots more options as well for salary sacrifice.
Join Date: Feb 2010
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I agree. If you have a preference to managing your own assets then Self Managed is the way to go. There's a few things to be aware of in terms of compliance and satisfying the oz tax office sos to obtain the tax concession on your contributions (ie. pay 15% versus 45%). Recommend you need at least $250k as said, but ideally $300k to compensate for the time, energy and annual admin fees. Happy to let you know what I did, if you get stuck.
