Retirement Planning

Superannuation tax reform is coming and for Australians with large super balances, the new Division 296 tax could mean paying more tax on future earnings. Here's the latest update.

A comfortable retirement means having the financial resources to maintain your desired lifestyle without stress. The reality is there is no one-size-fits-all target when it comes to retirement savings. The figure will vary for everyone based on personal preferences and expectations.

Navigating the super downsizer contribution rules can be a game-changer for retirement planning but understanding how it works is crucial to ensure you maximise your retirement benefits.

The Australian Government is proposing a new tax measure, known as Division 296, which will be aimed at individuals with superannuation balances exceeding $3 million.