I had no idea where my lost super was or the names of the funds. I just new it was scattered everywhere and I should definitely have more than $3,000 in my super. Australian Super Finder found all 7 of my funds and now my balance is almost $50,000. Thank you so much for getting my super back on track. ? Leonie, Thomastown VIC

Super Facts and Tips

Controlling Taxation in a Self-Managed Super Fund SMSF

We have a particular circumstance here where you don't see much of industry or retail fund where you got an accumulation side of the fund or accumulating wealth, and then you can start to take an income from that fund.

Taking Income from a Fund

Taking income from that fund, moving an asset from accumulation side to the income side, like when you're taking an income stream such as a transition to retirement income stream or an account based pension, there's no tax payable into the fund.

But a key thing for us on the accumulation side is the tax of 15% whereas on the pension side, there is no tax. So at some point in time when we turn at the age 55, and we can take a transition to retirement income stream, for those people are born before 1960, you can move assets from the accumulation side to your pension side. You can then have the benefit of accessing that money. And if you do it right you'd be able to access it tax-free by the age of 60.

So let's talk about a little strategy around this thing just to show you what you can do. Effectively what we can have is a position whereby we make those contributions each year. Under the current rules, you can make $25,000 salary sacrifice or personal deductible contributions if nobody else is making contributions on your behalf. So that goes into the fund. If you have a spouse that goes into the fund, then you have %50,000 to play with.

That will then enable you to work efficiently around a little bit as much as possible. You can get up to 80%. If you got it all by yourself, you could self-lend to the fund at a discounted interest rate. You can go up higher than 80% or above 100 or 106% to cover stamp duties.

The beauty about this is once a structure is sitting inside your self-managed super fund, your contributions are going to be your deposit, and you are going to get a tax-effect wherein a business or company is going to get a tax deduction for them to get a deposit regarding a property. Now that is just amazing.

With that, you can get a return and from that, you can have an excess of cost or taxable cost such as capital depreciation allowances, the interest that we have to fund back to the bank so that we end up negative-gearing inside that self-managed super fund.

But effectively what we do is we set up a structure and again, in everything we are talking about here you would need professional advice here. You can find such information at www.australiansuperfinder.com.au

You'd be good to go once you have set up the structure.

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