Latest news with #AwareSuper
The Australian
11 hours ago
- Business
- The Australian
Tax return: Super fund tips to avoid costly end-of-financial-year mistakes
Investors are making mistakes costing them thousands of dollars by rushing to beat the June 30 end of financial year deadline. While it pays off to tidy up financial affairs before this month comes to a close, a knee-jerk reaction can prove costly. Aware Super general manager guidance and advice Peter Hogg said June was a peak time for superannuation mistakes. The fast-approaching June 30 deadline created a 'perfect storm of rushed decision-making,' Mr Hogg said. 'People suddenly realise they haven't optimised their super contributions and scramble to make last-minute moves, often without proper planning or advice,' he said. 'Most often, it simply comes down to not understanding the rules.' Most super contributions, tax incentives and government schemes generally have June 30 deadlines, and missing them can translate to thousands of dollars of lost opportunities. Super specialists say errors include voluntary contributions, co-contributions, spouse contributions, exceeding caps and other limits and failing to take advantage of the carry-forward rules. Vanguard's Renae Smith. Picture: Supplied Aware Super's Peter Hogg. Picture: Supplied Mr Hogg said thinking June 30 was the deadline for super fund contribution deadlines was a common error. 'You may think transferring funds on June 30 means you're safe,' he said. 'However, contributions must be received by the fund before its cut-off date, which may fall days earlier depending on our method of payment.' A majority of major super funds say members must make their contributions by June 23 to ensure the fund processes the money in time. Vanguard Australia says this month is a good time to make voluntary super contributions, and calculated that a single $1,000 contribution at age 30 could grow more than eight times in value by age 67 to $8,438. Someone earning $80,000 who injects $1,000 into super as a concessional contribution gets a tax deduction for it and a $320 tax refund, it says. Vanguard Australia chief of personal investor Renae Smith said it was best to make additional contributions at least a week before June 30. 'For higher-income earners, a key issue is exceeding the concessional contributions cap,' she said. 'For this financial year, the cap is $30,000. Going over this limit can result in additional tax, so it's important to keep track of all contributions, including those made by your employer.' Colonial First State head of technical services Craig Day said another common mistake was people failing to check that all contributions reached their account, so they missed out on their entitlements. 'The best way to check is to log in to your super account,' Mr Day said. 'You can also use the ATO's Super Guarantee estimator to check your entitlements, and if you believe there's been a mistake, talk to your employer. There are ways to follow up super payments from past employers as well.' Mr Day said for couples where one partner earned below $40,000 there was an easy mistake to be made by failing to take advantage of spouse contributions incentives, which provided a tax offset to the contributing spouse. 'To get the full tax offset of $540, you must contribute at least $3,000 and your spouse must earn less than $37,000,' he said. 'The offset phases out at $40,000.' Aware Super's Mr Hogg said other incentives benefiting from pre-June 30 contributions included the $500 co-contribution scheme for low and middle income earners, First Home Super Saver Scheme and carry-forward contributions. 'If your total super balance was under $500,000 on June 30 last year, you may be able to contribute more than the usual cap by using unused limits from the past five years,' he said. Mr Hogg said the impact on retirement savings of June superannuation mistakes could include higher tax bills, missed government payments and reduced benefits of compounding returns. 'Even small delays in getting contributions into your account can reduce the long-term growth of your super due to lost investment time,' he said.
Sydney Morning Herald
a day ago
- Business
- Sydney Morning Herald
How one simple switch can supercharge your super
We're often encouraged to put money into superannuation, but contributions aren't the only thing that can help set you up for a comfortable retirement. In fact, says Peter Hogg, general manager of guidance & advice at Aware Super, 'as much as 50 per cent of your super balance at retirement may be determined by your investment returns'. Those investment returns come down, in large part, to the portfolio type you select. Because whether you know it or not, every Australian's super is placed in an investment strategy that's typically either conservative, balanced or higher risk, often known as 'high growth'. Loading Higher-risk strategies are more susceptible to market fluctuations but yield a better return in the long term. Conservative or balanced are less exposed to that short-term risk, but typically won't make as much money over multiple decades. And done right, choosing that high-risk strategy – especially when you're younger – can make a huge difference down the line. 'Obviously, contributing to super is great and really important as well,' says Hogg.
The Age
a day ago
- Business
- The Age
How one simple switch can supercharge your super
We're often encouraged to put money into superannuation, but contributions aren't the only thing that can help set you up for a comfortable retirement. In fact, says Peter Hogg, general manager of guidance & advice at Aware Super, 'as much as 50 per cent of your super balance at retirement may be determined by your investment returns'. Those investment returns come down, in large part, to the portfolio type you select. Because whether you know it or not, every Australian's super is placed in an investment strategy that's typically either conservative, balanced or higher risk, often known as 'high growth'. Loading Higher-risk strategies are more susceptible to market fluctuations but yield a better return in the long term. Conservative or balanced are less exposed to that short-term risk, but typically won't make as much money over multiple decades. And done right, choosing that high-risk strategy – especially when you're younger – can make a huge difference down the line. 'Obviously, contributing to super is great and really important as well,' says Hogg.
Travel Daily News
19-05-2025
- Business
- Travel Daily News
Spanish REIT Vivenio adopts proptech platform Lavanda
Vivenio will leverage PMS to support the continued development of its Flex Living line. Roll-out of new line will be gradually ramped up across Vivenio's 6,400+-unit portfolio. MADRID – Vivenio, the Spanish REIT participated by Dutch fund APG and the Australian fund Aware Super, has adopted proptech platform Lavanda to facilitate the development and delivery of its flexible rental strategy. Vivenio, one of Spain's leading build-to-rent developer-operators, will leverage Lavanda's cutting-edge property management system to enable Flex Living across its portfolio. The strategy, which is currently being trialled in a number of properties, will expand across Vivenio's 6,400 plus-home portfolio in the coming year. This will enable Vivenio to tap into growing demand for more short- and medium-term rental options alongside long-term rentals, catering to the needs of a broader range of tenants, guests and travellers. The REIT currently manages more than 50 operational assets located across Spain in Madrid, Catalonia, Málaga, the Valencian Community and the Balearic Islands. Elias Esayag, COO, Vivenio said: 'Lavanda PMS will enable us to complement our core portfolio of long-term rentals to leverage new capabilities in the Flex-Living space across our strong track record in the rental sector. 'The demand for more flexible rental options is there, but this in turn demands a new level of agility and innovation in property management. Lavanda's PMS provides us with the platform needed to meet those, creating new revenue streams. 'Ultimately, this partnership will allow us to efficiently manage our properties, respond swiftly to occupier needs and maintain our commitment to excellence as we expand our Flex Living portfolio.' Established in 2017, Vivenio has rapidly expanded its presence in the Spanish Build-to-Rent market. Last year, the company acquired four residential buildings in Madrid – adding 556 homes to its portfolio – bringing the total number of homes to more than 6,400 and the total asset value more than 1.8 billion euros. Fred Lerche-Lerchenborg, CEO, Lavanda, added: 'With Lavanda's advanced PMS, Vivenio will be able to implement their Flex Living strategy with unprecedented efficiency and flexibility. Our technology is purpose-built to support BTR operators develop and deliver on their Flex strategies, and we look forward to supporting Vivenio in setting a new benchmark in the Spanish market for adaptable rental solutions.'
Bloomberg
07-04-2025
- Business
- Bloomberg
Wild markets, super opportunity, Darwin port tension
Good morning, it's Amy in Melbourne with your Tuesday newsletter. The ASX is set to open higher today, while the first leaders' debate of the federal election campaign is scheduled for tonight. But first ... Today's must-reads: • Treasurer Chalmers reacts to market turmoil • Aware Super eyes cheap stocks • China hits back at the major parties' Port of Darwin plans We begin with the big story of the week so far: global the government is blaming "bad decisions" on tariffs for the turmoil, Treasurer Jim Chalmers' department is forecasting only minor impacts on domestic economic growth and inflation. While the local market is set to open higher this morning, the S&P/ASX 200 Index slumped as much as 6.5% yesterday, while the currency plunged. We have more on markets later in today's newsletter. Aware Super, meanwhile, senses an opportunity amid the chaos. Michael Winchester, Aware's head of investment strategy told me he's looking to buy cheaper stocks. In contrast, UniSuper's Chief Investment Officer John Pearce said it may be time to start pulling back from the US and has upgraded the probability of a recession.
