Do Your Clients Have Enough Super?

Date: 01/11/2010

Too many business people don't prepare properly for their own retirement - they're letting tax benefits go begging.

Recent research shows that many business owners are not satisfied with their retirement planning arrangements, and only in three intends to invest more in superannuation when they sell their business and retire. Peter O'Toole of financial advisory firm Portfolio & Wealth Management, says that indicates a lack of awareness of the advantages that can be derived from super. In particular, small business Capital Gains Tax concessions can be most helpful, especially when a business is being sold. The rules can be complex, so it'simportant that both financial advisers and accountants are well prepared, so as to offer clients the best advice in individual cases. There are also benefits from holding life insurance and death or disablement policies within a super fund. Early investment in super will pay dividends when it comes time for business owners to consider selling up and retiring - the best advice is not to leave it until the last minute!

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Peter O'Toole, Portfolio & Wealth Management