Superannuation Advice

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Superannuation is a valuable savings system utilised by individuals to provide for their retirement. 

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While there have been numerous changes to super over recent years, it is still one of the most tax-effective means of accumulating wealth and generating income in retirement. 

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Here are the main features and benefits of superannuation: 

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• Realised earnings are taxed at a maximum of 15%. 

• Earnings and capital gains are tax-free when in pension phase (for eligible pensions).  

• Personal contributions to superannuation can be tax deductible. 

• Employer & salary-sacrifice (concessional) contributions are taxed at 15%. However, for high-income earners whose combined income plus concessional contributions exceed $250,000, an additional tax (Division 293) may apply, making the effective rate 30%.  

• Benefits can also be paid tax-free to dependants in the event of death and the arrangement can serve as an effective estate-planning vehicle. 

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​​​​Retirement Planning

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Retirement can encompass a wide range of experiences. For some it involves transitioning from full-time to part-time employment, while for others it signifies a complete cessation of work to spend time with family or travel. 

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Retirement planning is concerned with ensuring that your investment strategies (whether you are just beginning or planning many years into the future) will enable you to enjoy the lifestyle you aspire to in retirement. 

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Regardless of your definition of retirement, it is crucial that your savings continue to generate income long after your work arrangements cease. Your retirement plan must provide a steady income to fund your expenditure, allow access to capital when necessary, and ensure longevity so that your savings are not depleted before your life expectancy.

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Investment Advice

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Investing wisely can be challenging due to the options available and individual needs and goals. DKG Financial Group can assess your current financial position, set investment objectives and recommend suitable options to help you achieve your goals. 

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When establishing and managing portfolios, we explain to you how investments work, their associated risks and potential returns. To connect your investments to your financial goals (whether short- or long-term) we consider asset allocation, risk management and ownership structures, in addition to potential taxation outcomes. 

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​Estate Planning

 

With family structures becoming more fluid, planning your estate has become more important in recent times, and often involves much more than just a simple will. 

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Family trusts, payouts of superannuation balances, and the tax implications for beneficiaries can all be managed with a careful estate plan. 

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Seeking advice from your financial adviser is a crucial step in developing a proper estate plan, to ensure that: 

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• The tax payable is minimised on the income and capital gains earned on assets. 

• The right ownership and control of your assets passes to your intended beneficiaries. 

• Your assets may be protected if the beneficiary is involved in any legal difficulties (for example, divorce or bankruptcy). 

 

Our advisers can introduce you to a qualified estate-planning professional who can prepare an estate plan, draft wills and establish powers of attorney, etc. We will coordinate the process, ensuring continuity between the advice we provide and your estate-planning intentions. 

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​SMSF

 

An SMSF (Self-Managed Superannuation Fund) is a trust where funds or assets are held and managed on behalf of a maximum of four individuals, to provide future retirement benefits. 

 

The main rationale for establishing your own SMSF is the increased level of control you have, as well as investment choice and flexibility. You become the trustee of your fund and therefore make decisions on your fund’s investment strategy and the types of assets held within the fund. (Note: you also become responsible for compliance, administration and fund governance.) 

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DKG Financial Group has an accredited Self-Managed Superannuation Fund Specialist, offering advice on all aspects of SMSFs – from establishment to fiduciary obligations and investment strategies. 

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Risk Insurance

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Risk insurance strategies are designed to protect you from different events that can occur, including: 

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• Life insurance – pays a lump sum to your beneficiaries in the event of your death. While money can never replace the loss of a loved one, it’s comforting to know the people who depend on you will be financially assisted. 

• Total & Permanent Disablement (TPD) cover – pays a lump sum if you’re no longer able to work due to total and permanent disablement. This additional money could be used to repay loans, help meet day-to-day living expenses, fund medical expenses, meet rehabilitation costs and pay for any modifications required to your home. 

• Trauma insurance – pays a lump sum in the event you suffer certain specified medical conditions such as a serious heart attack, stroke, cancer, etc. 

• Income Protection insurance – insures you against loss of income while you are unable to work because of illness or injury. Income Protection insurance pays up to 75% of your salary package from your employment. It can provide you with an income to meet everyday living expenses, loan payments and other general expenses during times of illness or injury. 

 

Our advisers can introduce you to a qualified risk-insurance specialist who will tailor and recommend specific personal insurances based upon individual needs.