Talking Cents

Retirement planning tips, by small business accountants in Sydney

There comes a time in everyone’s life where we will have to retire from work and when this time does come, you’ll want to be prepared financially to support yourself and your family. So our small business accountants in Sydney will give you some retirement planning tips.

Retirement planning is one of the most crucial parts of your life that you need to start planning for and our business accountant has some tips for you:

• Be sure to combine your super account with your significant other as it will gain more interest together rather than separate
• Identify your superannuation dependants
• Do a financial stocktake
• Consider making concessional tax contributions
• If you’re over the age of 65, be sure to check that you qualify for the work test before contributing to your super
• Check eligibility for co-contribution
• Consider talking to an independent financial planner just like our small business accountants in Zetland

Planning for the later stages are not that difficult and can even benefit you now by offering you a way to get more from your tax return.

Feel free to get in contact with our small business accountants in Sydney if you have any questions.