退休金计划单身岁目前每赚75 superannuation and retirement planning.pdfVIP

SuperannuationandRetirementPlanning

Johnissingle,60yearsoldandcurrentlyearns$75,000peryear.Healsohasabankaccount

containing$600,000,whichearns4%peryear.Healsodoesnothaveprivatehealthinsurance,but

wouldliketobuysomefor$3,000,andhasnotcontributedanysavingsintohissuperbefore.John’s

employercontributestheminimumamountofsuperallowedbylaw.Johncurrentlyhasabalanceof

$275,000inhissuperfund.Hewouldlikeyouradvicetominimisetaxandtoplanforhisretirement.

1)Analysehiscurrentsituationbeforereceivingadvice

Calculatetaxpayable:

Assessableincome=75,000+(600,000X0.04)=$99,000

Usingthetaxratestable,

Taxpayable=17,547+0.37(99,000–80,000)=$24,577

Johnmustalsopaymedicarelevyof2%Xtaxableincome:

0.02X99,000=$1,980

Johnhasnoprivatehealthinsuranceandearnsmorethan$90,000,sohemustalsopaythe

1%medicarelevysurcharge(basedontheMLSincomethresholds):

0.01X99,000=$990

Totaltaxpayable=24,577+1,980+990=$27,547

2)OutlineastrategytohelpJohnplanforretirementandreducetax

Johncanhaveaccesstohissuperannuationfromof55onwards,althoughifhedoes

takeitoutbeforeage60,hewillneedtopaysometax.Heis60now,sonotaxpayable.He

hastheoptionoftakingallsuperout,somesuperout,orbuyinganannuitywhichwill

guaranteehimacertainamountofmoneyeveryyearuntilheeitherdies,ornominatesan

enddate.

Themostefficientoptionistotakeatransitiontoretirementsuperpension,whichpermits

himtoworkandreceivesuperasanannuityatthesametime.Johnshoulddothefollowing:

-Salarysacrifice(concessionalcontribution)bygivingupsomeofhissalarytoputintosuper.

Hismarginaltax