Integro Private Wealth’s Post

Intergenerational Wealth – What happens when I die? Do my kids pay tax on the proceeds? Depends…… Whilst there are no ‘death duties’ in Australia there can still be taxes applicable on investments and superannuation in the event of your death depending on whom they are passed onto. There can be ways to reduce or extinguish these types of issues with advice. If you’re concerned about your intergenerational wealth, reach out to me: kelly@iconicwealth.net.au 0407 660 534 www.iconicwealth.net.au #retirementplanning #financialplanning #estateplanning

It’s great to have our CEO, Craig Brooke contributing in Duncan Hughes AFR article on the proposed Division 296 tax and the impacts it’s going to have on hard working Australians. At KeyInvest we are passionate about helping clients to live their best life and the part Investment Bonds can play in achieving this. If you want to discuss the opportunity with Investment Bonds or the detail of the proposed Division 296 tax and the impact it may have, please reach out. #division296 #investmentbonds #tax

Preserving generational wealth can be a complex endeavor and a big reason is that the wealthy often have multiple income streams. A proactive stance on tax planning is essential for safeguarding wealth for future generations of this demographic.

Adviser Reflections: Have you ever heard about a re-contribution strategy? Since the removal of anti-detriment payments back in 2019, these strategies have gained in popularity to address tax (17%) on the taxable component on one’s super fund where preservation age has been met. The strategy involves withdrawing money (from super) then ‘re-contributing’ the funds as an after-tax contribution. For most Australians, the principal concern here is to maximise super death payments for adult children. So, what are the benefits: increase the overall super payout to adult children, as well as acting as a future legislative hedge should the Government revisit the taxation of retirement income streams. These benefits need to be balanced against the cons however, which include: time out of the market; potential loss realisation; managing contribution caps; and the law of diminishing return (as your account reduces over time, so too does the tax implications)! Before acting, always reach out to your Financial Adviser to determine whether this is an appropriate strategy.

Preserving generational wealth can be a complex endeavor and a big reason is that the wealthy often have multiple income streams. A proactive stance on tax planning is essential for safeguarding wealth for future generations of this demographic.

Want to take advantage of the The First Home Super Saver Scheme? 🏡 The FHSSS was created to help first-time buyers in saving for their first property purchase. Eligible individuals can take advantage of the tax concessions by making voluntarily contributions to their super fund, with the option to later withdraw these funds to finance their first home deposit. Find out more about how the scheme could benefit you - https://buff.ly/3VaKXXg #FinancialAdvice #WomantoWoman #firsthomebuyer #superannuation #tax #property

Canadian residents may split certain pension income with their resident spouse or common-law partner. Can you say T1135? . AskMrTaxes.ca for all your tax filing needs #CorporateTaxServices #Compliance #InsurancePolicy #LifeInsurance #MrInsurance #MaximizeSavings #BritishColumbia #Alberta #Ontario #TAXES #TAXTIP #WEALTH #Tax #accountant #CPA #finance #financetip #taxtip #wealth

Canadian residents may split certain pension income with their resident spouse or common-law partner. Can you say T1135? . AskMrTaxes.ca for all your tax filing needs #CorporateTaxServices #Compliance #InsurancePolicy #LifeInsurance #MrInsurance #MaximizeSavings #BritishColumbia #Alberta #Ontario #TAXES #TAXTIP #WEALTH #Tax #accountant #CPA #finance #financetip #taxtip #wealth

I saw a financial adviser last week and I have to talk about it. They have a client who's been diligently using their ISA and pension allowances for several years. But the adviser needed to assess where they were at now in their journey and whether they needed to change course. For example: Would some cash flow forecasting show that they are now unlikely to need to rely on future investment growth? Have the investments grown well enough that the client now has an Inheritance Tax liability? In the end, the adviser's ongoing advice was to propose a strategy that protected future investment growth from Inheritance Tax whilst also addressing the existing liability. Had it not been for their advice over the initial years, accessing the capital tax efficiently to implement the proposal might have been more tricky. (Link in comments to discuss ongoing advice with Julia Kiff-Brown FPFS directly) #financialadvice #financialplanning #retirementplanning

There's a lot of commentary circulating at the moment about the need for an inheritance tax. Some are suggesting we tax the top 1%, while others are considering the merits of a modest tax across the board. What do you think? Should Australian inheritances be taxed? #PFGFinancialServices #FinancialAdvice #WealthManagement #Superannuation #RetirementPlanning #EstatePlanning #LendingSolutions #PersonalInsurance #InvestmentAdvice #MelbourneFinance #BrisbaneFinance #FinancialFreedom #WealthCreation #PropertyInvestment #SecureYourFuture #FinancialPlanning #TrustworthyAdvice #FinancialGoals