Country : Australia
Assignment Task:

TASK

You have a client, Adam, who has come to you for advice about his superannuation. Read the scenario and complete the five tasks below based on this information.

It is July 2020.  Adam, will turn 58 on the 10 July 2020 and is on a salary of $245,000.  His employer pays the mandatory superannuation guarantee (SG).

Adam has just received his annual statement from his superannuation fund XKB Super Fund and is pleased that he has accumulated $1.3 million as of 30 June 2020.

Task 1 

Adam is seeking to retire and is looking to you for some advice on when he should do this and whether there are any taxation strategies he can implement before he officially retires to maximise his superannuation. 

Please advise Adam on: 

A. What age he is able to access his superannuation benefits.

B. The taxation implications of whether Adam decided to:

  • commence salary sacrifice

  • make spouse contributions 

  • exceed concessional contributions

Task 2

Adam has some friends who manage their own superannuation through a Self-Managed Superannuation Fund (SMSF). Adam often reflects on whether he should have done the same.

Assuming he did set up a SMSF, outline his responsibilities as a trustee of SMSF and the cornerstone rules that he would need to adhere to when managing his own superannuation funds. 

Task 3

In July 2021, Adam’s uncle dies and leaves him an inheritance of $280,000. Adam wants to put this into his superannuation fund. Explain to Adam what his options are and what tax rules affect each option.

Task 4

Adam is thinking of switching super funds. 

A. Provide an analysis of the following two PDS statements and their adherence to Schedule 10D of the Corporations Regulations. 

This Accounting and Finance Assignment has been solved by our Accounting and Finance Experts at onlineassignmentbank. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+ Students in Australia, UK & US by helping them to score HD in their academics. Our Experts are well trained to follow all marking rubrics & referencing style.

Be it a used or new solution, the quality of the work submitted by our assignment experts remains unhampered. You may continue to expect the same or even better quality with the used and new assignment solution files respectively. There’s one thing to be noticed that you could choose one between the two and acquire an HD either way. You could choose a new assignment solution file to get yourself an exclusive, plagiarism (with free Turnitin file), expert quality assignment or order an old solution file that was considered worthy of the highest distinction.

  • Uploaded By : admin
  • Posted on : May 09th, 2019
  • Downloads : 0

Whatsapp Tap to ChatGet instant assistance