invest his superannuation into Shares and some managed funds | My Assignment Tutor

Assignment 1 Let us assume that you are a financial adviser. You have a client who is 35 years old. Client name is Peter. Peter has $35,000 in superannuation fund. He is currently with Rest Super and he does not have any insurances in the super. On interview and though fact finder, you have found that he wants to invest his superannuation into Shares and some managed funds. a. What will you advise him in term of choosing superannuation fund ? b. How will you choose superannuation fund for him? What are your steps? c. What is your recommended Superannuation fund name? What other superannuation funds did you consider for him and why those funds were not recommended for him? 2. Peter (from question 1) is has just joined as manager at Moto vehicle Sales Department and is at salary scale of approx. $90,000 per year. He has been to his new job since last week. And he has option to salary sacrifice his earnings. a.What do they need from him to pay his superannuation into the fund that you have recommended in question 1? b. What happens if he does not provide his superannuation details to his new employer for some time? For his earnings, what would be the Super Guarantee amount? How is super guarantee amount treated inside Superannuation fund? Let us assume for his earnings if he wanted to salary sacrifice $10,000 into super directly from his pre-tax earnings then what would be his Super guarantee contribution? One fine day, he got letter from his other superannuation fund which he forgot about for long time. The letter says that he has $1500 only in that super. What is the most likely consequences for that super amount? (hint: closing account, sending to ATO. Peter came to meet you after 1 year time. At this time, he brought Jill to introduce her with you. She is his partner (defacto status). They are planning to get married after 2 years’ time. During the conversation with Peter, and Jill you discovered that they have opposite interests and goals in life. But you cannot comment about their personal life. So, how can you make aware the both parties about the unfortunates that happens in few people life eg. Split of Super upon separation etc? Will you talk anything about it in the meeting or will you inform Peter about family law and Super in separate meeting?What happens to super in a divorce or separation?What is the most common approach?What happens to a self-managed super fund?If Peter was married to Jill when they came to meet you. And if they would have gone through divorce what could be the family court approach on his or her super consider that she is full time house maker and she a full time uni student yet. Write your answer in detail. Let us assume Peter had a step dad and he also has mom. His step dad died in a road accident in Jan 2019. His step dad was 57 yrs old when he died in road accident and had $350,000 in his super. How will she receive the benefit of his super? (Hint: Lump sum? Income stream?… will that be taxable?) One fine morning, Peter got a call from his mom that his granny passed away. His granny nominated him as the beneficiary of her Self-Managed Super Fund. She had 1 investment property in that SMSF and $200,000 invested in manage funds. Assume, the property has a market value of $500,000 in present and it was purchased in June 1997 for $380,000. What will happen if the property will be sold assuming managed fund does not make any capital gain or a capital loss. If Peter’s granny would have sold the same property before she died, would the tax position for Peter upon inheriting the Super be different? Explain in detail.


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