SUPERANNUATION

SUPERANNUATION

Superannuation is one of the best long term saving arrangements, operating primarily to provide income for retirement. It remains one of the most tax-effective means of creating wealth as tax concessions apply to superannuation contributions, to earnings with the fund and to the ultimate benefits.
There are a number of types of superannuation types in Australia, however they all sit under the one set of tax rules and legislation. There are retail funds, employer funds, industry funds, wholesale funds and lastly Self Managed Super Funds. We are able to advise on traditional superannuation funds and also Self Managed Super Funds. With traditional funds we have access to leading wholesale funds whereby we are able to place super funds into specific investments and investment classes. The performance of wholesale funds can be significantly better than many other non wholesale funds.
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Then we have Self Managed Super Funds which are the fastest growing type of funds.The difference between a Self-Managed Superannuation Fund (often described as ‘do-it-yourself funds’) and traditional superannuation funds is that they allow you to have the total control of your money. A fund enables each member to be directly involved in the decision making process and to look after their own interests. It also provides flexibility for retirement planning, estate planning and insurance strategies.
There are currently over 500,000 SMSFs representing in excess of 1,000,000 Australians managing their own funds. There are countless investment options available for you to exercise your personal choice in investment, ranging from domestic and international equities, bonds and/or term deposits and property, to derivatives, tax advantaged schemes and managed funds. The list of investments to choose from is endless! It all depends on your risk profile and what goals you wish to achieve with your superannuation.
SMSFs can be onerous with the duties that must be conducted. Time and expertise are required to keep up-to-date with legislative changes as well as undertaking the day-to-day administration and compliance tasks. This is where we step in under our corporate authorised status through Ballast Superannuation Management. As your one-stop superannuation administration service. Ballast handles the administrative duties as well as the important compliance matters with ever changing superannuation legislation.
In association with Ballast Financial Management (Australian Financial Services Licence Number 233180), Odyssey Financial and your financial adviser can provide you with recommendations on new or existing investments as often as you wish. Funds administered by us are reviewed half-yearly in July and January.
Our task is to work with you to ensuring your fund supports you in meeting your needs to fund your desired lifestyle and give a feeling of financial security in your retirement.
New users are provided with superior online consolidated portfolio reporting, assisting in the investment management and core accounting services to streamline costs and enhance userbility and serviceability of your portfolio. Clients are able to access details including cashflow and capital growth components of their portfolio as well as overnight balances on investments.

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