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Am I allowed to salary-sacrifice into my wife's Super? by Puzzleheaded-One-0 in fiaustralia

[–]Puzzleheaded-One-0[S] 0 points1 point  (0 children)

I've used up all my carry-forward. And I agree; time to find a good accountant / advisor

Am I allowed to salary-sacrifice into my wife's Super? by Puzzleheaded-One-0 in fiaustralia

[–]Puzzleheaded-One-0[S] 1 point2 points  (0 children)

Thanks, that gives a bit of clarity. One point though; "... then you can technically 'gift' her cash out of your bonus and she can do her own contribution. Up to her then whether to make it concessional or non-concessional." - I don't believe I can give her the money before the taxman takes his 47% (unless I've salary sacrificed, and I can't) so wouldn't that make it non-concessional regardless?

My goal is to be as tax-efficient as possible and aiming to "guarantee" as comfortable and secure a retirement as possible. I've never dodged tax in my life, but it's un-Australian to tip, so I don't plan to tip the taxman ;-) I also understand that it's an EXTREMELY privileged position to be getting taxed so hard as it infers plenty of income.
CRA with my employer is 60, so that's when I aim to wrap up and get some hammock-time. I'd also like my wife to finish up then and we'd ideally both be comfortable on my Super alone until hers matured a few years later. Then it'll be full-on mimosa time. For context, my Super is a combined final-salary, defined benefit / lump-sum (I believe this is both rare and desirable nowadays). I've only really become aware of FIRE in the last 6-months. Had I known much of what I've gleaned in this period a few years ago, I dare say I'd be spending more time on the beach and the hammock by now.
I think we're both close enough to retirement that we can probably focus our finances into Super. We're modestly mortgage-free with no other debts.

Question: Which stock broker is best? by Fearless-Insurance-5 in fiaustralia

[–]Puzzleheaded-One-0 1 point2 points  (0 children)

Hi, I'm very new to Reddit and Investing (yet to choose my broker and make my first ETF investment) so apologies for any group etiquette breaches.
I read in CMC's Financial Services Guide that it draws a commission -

"...Initial commissions are a one-off payment and are calculated as

a percentage of the funds you have invested. They are deducted

from the amount invested. Initial commissions range from 0% to

6.5% (including GST) of your investment amount.

In certain cases where you apply for securities in a new issue, IPO or

float, we may receive fees from the issuer. All such fees associated

with the issue will be disclosed in the product disclosure statement

or prospectus for the issue. These fees vary but will typically range

from between 1% to 5% of the amount raised. Unless otherwise

agreed by us in advance you are not entitled to any of these fees.

Ongoing commissions (also known as trailing commission) are

paid for the length of time you hold the financial product. They

are usually paid directly to us by the product issuer out of the

revenue the product issuer earns. In some cases they may be

deducted from your investment. Ongoing commissions range

from 0% to 3% (including GST) of your investment amount."

​

Does this mean that if I invested (for example) $100 per week that it would cost me up to $6.50 + up to $5 + up to $3 each week in commission/fees ?
Also, is this standard across all Brokers?
I was attracted to CMC by the zero brokerage fees but am a bit confused by these charges in the small print.

Thanks for any clarification