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Finding your lost super

Many Australians have superannuation that they have lost track of over the years. The ATO estimates that the total amount of lost super in Australia adds up to billions of dollars.

If you have ever changed your name or address it is possible that you have chunks of super that you’ve completely forgotten about. The same is true for super accumulated in a part-time or casual job, particularly if it was a long time ago.

If you think that you might have some lost super, you should track it down as soon as possible. By splitting your super between funds, you are most likely paying unnecessarily high fees.

Finding your lost super is easy with the ATO’s online SuperSeeker tool. You can also use the ATO app to do a quick search to determine whether or not you do have lost super. To do this, you will need to provide your name, date of birth and tax file number (TFN).

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Investing in shares vs property in SMSFs

March 19, 2020

Shares and property are two popular investment options for those with a self-managed super fund (SMSF). However, they both have very different attributes and choosing the one that will achieve the best outcome for an SMSF depends on your personal goals and situation.

While the price of shares can vary drastically, property is a relatively stable asset, making it appealing to those who want more security and predictability. Property prices are also negotiable unlike shares, and you can generally borrow money at a lower rate for property purchases.

It may seem hard to find the perfect investment property, but older and undercapitalised properties can be renovated for profit. However, returns from property rentals can be dented due to factors such as land tax, utilities and rates, maintenance and tenancy vacancies.

Shares are more dynamic and volatile than property. One advantage is the accessibility of investing in shares, as you can enter the share market with a few thousand dollars – much less than what you need to invest in a property.

Maintaining a portfolio of quality shares that pay tax-effective dividends may be a good way to fund retirement. With the right portfolio allocation, shares also have the potential to provide a better, stronger income than property rentals, as long as that income is sustainable and increasing.

Property can generally be used as a wealth-creation tool, while shares can create a reliable retirement income. For those who can afford to put more money into investments, it may be a good idea to consider investing and diversifying in both. If you’re unsure about which investment option is right for you, seeking financial advice may be the best option.