Did you know you can automate the process of contributing non-super assets into super before rolling them into a retirement income stream?
Manually modelling the sale of an investment account, the contribution into super, and the subsequent rollover to a pension is a multi-step process that usually involves a lot of manual data entry.
This feature does the heavy lifting by ensuring tax is calculated correctly across the transfer.
How?
- In the Proposal Set-up screen, navigate to the Lifetime Income Planning tab.
- Set the Source of application money to Superannuation.
- In your Current Situation panel, mark any non-super funds (like an ordinary investment account) as Close / Roll balance out. Xplan will automatically assume these funds are contributed to super first and then rolled into the Retirement Income solution.
Selecting the correct source of money in this tab is important for more than just speed. It ensures the system applies the right tax treatment to the lifetime income projections from day one.
