232 Boundary Road, Braeside, Victoria, Australia, 3195

Assisting Clients to Prosper
 

Benefits of Putting Money into Super

  • Tax free retirement pensions
  • Risk protection for those in business
  • Serious taxation and tax planning advantages (Case Study)
  • CGT Rollover from sale of business
  • Bonus contributions from the government – when contributing your own after-tax money into super you could be eligible to receive the government co-contribution
  • Insurance – you may be able to get death and disability insurance cheaper through super compared to when purchased outside of super

Case Study in Tax Planning Advantages

John is 45 years old and runs his own business

Wage from business = $50,000p.a

9.5% Super Guarantee = $4,750

Business profit = $80,000

Tax Payable by Super Fund = $712.50

Tax Payable by Company = $24,000


If John contributes extra super up to his contribution cap limit of $30,000:

Business Profit = $54,750

Total Contributions to Fund = $30,000

Tax Payable by Super Fund = $4,500

Tax Payable by the Company = $16,425

Tax Saving overall of $3,787.50 for one year (assuming a growth factor of 5%, this would equate to approximately $73,845 tax saved by age 60)

Increased Superannuation of $25,250 for one year (assuming a growth factor of 5%, this would equate to approximately an extra $597,351 in superannuation by age 60)

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Comments from our clients

  • "Hi Ross, I just thought that I should tell you that Monty has been helping me with a problem I had with Gracott over the past few months. In this time, his help has been well above what would normally be considered normal for an accountant's role. I have been very grateful for his assistance. …… I thought I should pass this on to you personally."
    - Jill Miglietti, Bervic Engineering Co Pty Ltd
  • "Thanks for the business valuation I am very happy as was my Solicitor with this, the valuation was quite detailed and you went into great detail showing the different methods used in calculating the value also supplying figures to substantiate your calculations. Great work thanks."
    - Jon Everitt, Signarama Moorabbin
  • "It is refreshing to see that your understanding of property transactions and your proactive approach goes much further in depth compared to an average accountancy practice. My recommendation to our clients to seek your expert advice would be without hesitation and encouraged!"
    - Michael Libman, Director (Licensed Estate Agent) Property Choice Pty Ltd
  • "The Planning Session: The process was very good in assisting us to clarify our personal and business goals and objectives. In our case, with each of us running separate businesses, it was particularly helpful in highlighting the directions we were both heading, and where simplification could be applied to create more efficient management..."
    - Kevin Ezard Aquarian Developments (Aust) Pty Ltd - Marketing and Consulting
  • "Many thanks for your work this year. A friendly and efficient company. Our contact with you over the many years of our association has been a pleasure and we look forward to continuing this in the future."
    - Linda and Ray Eades - Carpentry Business and Super Fund
  • "Thank you very much for your help to me and Damian recently. The matter discussed has now been concluded. We feel very fortunate to have you not only as our account but also as our trusted friend."
    - Veronique Moloney – Long standing client

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