Grove Securities - Superannuation

There are many advantages of investing in superannuation, which arise as a result of significant tax concessions and other Government initiatives. More specifically;

Whilst the tax treatment of superannuation is complex, contributions and earnings are generally taxed at a maximum of 15%. Similarly realised capital gains are taxed at a rate of 10% where the assets are held for more than one year.
From 1 July 2007, if you are over age 60 and drawing benefits from super these benefits will be tax free, and generally the earnings held within super will be tax free if those assets are supporting a pension.
Employees can salary sacrifice into superannuation without FBT implications. This can reduce tax on the amount paid into superannuation from the normal marginal tax rate to 15%.
A member of a superannuation fund can make a contribution on behalf of a non-working spouse (up to age 65) and obtain a tax rebate.
Achieving greater financial security, which may reduced or eliminate your reliance on the Government Age Pension to fund your retirement years.
Favourable treatment when being means tested for Centrelink benefits.
Tax deductions for contributions by the self employed (or those not supported by an employer), up to specified limits.
The Government co-contribution, where the Government may contribute up to 150% of a contribution that you make (up to $1,500).
Other tax deductions and incentives may be available to you for contributions. For example, CGT rollover relief and rolling over employer ETP's such as redundancy.
More tax effective investment choices for income streams on your retirement.
Cost effective insurances can be held by your superannuation fund, providing significant benefits for you and your family in the event of serious deterioration in your health or death.
To a certain extent protection from creditors in the event that you become bankrupt.
More tax effective options for distributing death benefits to dependent loved ones.

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The Government has encouraged investment in superannuation by providing a range of very attractive tax incentives. This means that if you plan ahead you can improve your standard of living and in many cases do this without sacrificing any of your current disposable income.

Legislative changes make it more attractive than ever to examine your options and to set yourself up for the years to come. The incentives and opportunities available to get the most out of this highly tax effective form of investment are governed by the ever changing relationship between your circumstances and various sets of legislation. As circumstances differ for everyone the most appropriate superannuation product or strategy for one person is unlikely to be exactly the same as that for another.

Self managed superannuation funds

Grove Securities are specialists in the area of self managed superannuation fund (SMSF or DIY) advice and services. Not only can we help you decide if this is the type of fund suitable for you we also offer administration and management support.

Our administration and management services are designed to deliver efficient and cost effective assistance to trustees in fulfilling their responsibilities and obligations and in achieving fund objectives.

Some additional advantages of a SMSF that can be available include;

Greater investment choice, opening up opportunities for investment in direct shares, wholesale managed funds, and business real property (in certain circumstances).

The ability to manage franking credits to offset tax on contributions, earnings, and capital gains.

The ability to invest in instalment warrants, to leverage returns and maximise franking credit benefits.

The ability to make in-specie contributions.

Greater estate planning control and options.

Greater control over the timing of asset sales and selection.

Lower costs, where a sufficient account balance exists (this will vary depending on the members circumstances and objectives).

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Our SMSF Management Service may suit clients that are looking to engage in significant or ongoing investment, require a greater level of professional advice in relation to SMSF strategies, or would rather spend their time doing things other than directly managing, administering and staying on top of the many governing rules of the fund and the SIS Act.

Clients that retain us for this service are essentially engaging a professional manager to help trustees run the fund appropriately, cost effectively and in the best interests of members.

The Administration Service is a stand alone component of the Management Service and may suit clients that are happy to maintain an active and informed role in the management of the fund but would like to reduce the administration burden. In summary this service involves the accurate recording of financial information and transactions undertaken by the trustees and preparing and lodging all necessary returns and regulatory requirements.

Our administration service is one that is performed on a daily basis rather than at year end. This secures improved ability to manage and monitor compliance of the fund by specialist rather than generalist staff, consistent achievement of timelines in meeting regulatory requirements, improved ability to tax plan, and a significantly reduced work load for clients (or their accountants) at year end.

Please ask us to provide you with a detailed list of the benefits that these services offer.

Corporate superannuation

We also offer an extensive range of solutions for employers who are looking for a scheme for their employees.

Our strong working relationship with many providers enables us to identify and negotiate competitive and tailored solutions. Because we can achieve economies of scale we are able to deliver significant value adding benefits, making the whole package more attractive for employees and more convenient for employers.

Again, a key benefit of having Grove Securities undertake this work is that not only is it likely to be cheaper but our advice and recommendations will not be tainted by the influence of corporate or institutional ownership.

Personal superannuation

There are also a multitude of flexible superannuation funds available in the market. With access to an extensive range of personal superannuation products Grove Securities is ideally placed to find one that matches your needs. They are designed for the individual and can be used with different employers or for the self employed.

These offer a range of investment choices and can be tailored to your needs now and altered in the future if your circumstances change. You can generally build your savings by consolidating or rolling over previous funds, or through regular personal, employer or spouse contributions.

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