SET UP A FAMILY SUPER FUND TO PAY FOR SCHOOL FEES IN 2010.
The new superannuation rules now allow family members to combine their superannuation balances to get greater scale over fees and administration of their affairs.
A simple concept that is gaining ground is for members in the over 60's age bracket to invite their children say in their 40's who may have children of their own to join their self managed super fund accounts together.
This strategy can have huge advantages for Estate planning as well as helping their adult children meet some of their immediate living expenses such as education expenses and mortgage payments, by paying tax free dollars from their pension accounts to their adult children's bank account now rather than wait until they pass on. For full details on how to set up a family fund contact our office.