Your Wealth is a half-yearly publication produced by Morgans that delves into key insights for Wealth Management. This latest publication will cover;

  • Maximise your retirement savings with super splitting strategies
  • Staying the course while Central Banks tighten
  • Spotlighting the new income thresholds for the Commonwealth Seniors Health Card
  • The basics of account-based pensions
  • How to wind up your self-managed super fund
  • Big Dry Friday 2022: 1.3 million reasons to say thank you

Morgans clients receive exclusive insights such as access to our latest Your Wealth publication. Contact us today to begin your journey with Morgans.

      
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Feature Article | Splitting is still significant

The strategy of splitting superannuation contributions to your spouse still provides an opportunity for couples to maximise their retirement savings, particularly with the introduction of total super balance and transfer balance cap rules.

Overview of Contribution Splitting

The superannuation contribution splitting rules allows a person to split up to 85% of concessional contributions with their spouse. This includes carry forward concessional contributions. Non-concessional contributions cannot be split. Superannuation contribution splitting allows a couple to build two separate superannuation accounts even if one spouse is on a low income or not working.

The splitting operates under an “annual split” model: that is at the end of the financial year a super fund member will be able to nominate a percentage of concessional contributions made in that financial year to be split with their spouse. The amount to be split will be treated as a “rollover” to the receiving spouse; hence funds will not be counted against any contribution caps for that spouse. The concessional contributions that can be split can also include unused carry forward contributions, where applicable.

To read the full coverage from the latest Your Wealth, begin your journey with Morgans today.

Disclaimer: The information contained in this report is provided to you by Morgans Financial Limited as general advice only, and is made without consideration of an individual's relevant personal circumstances. Morgans Financial Limited ABN 49 010 669 726, its related bodies corporate, directors and officers, employees, authorised representatives and agents (“Morgans”) do not accept any liability for any loss or damage arising from or in connection with any action taken or not taken on the basis of information contained in this report, or for any errors or omissions contained within. It is recommended that any persons who wish to act upon this report consult with their Morgans investment adviser before doing so.

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