GESB super funds can have powerful tax and wealth accumulation benefits if used correctly and by a team with experience in working in the GESB advice space. AVS Wealth Managers can provide you with a tailored financial plan with recommendations about how to best use your GESB super.
AVS Wealth Managers are in the unique position of having had our in-house GESB capabilities created by engaging the services of a former GESB (Government Employees Superannuation Board) adviser at executive advice level, while at board level collaborating with a former GESB senior manager and acting CEO.
If you were a WA public sector employee prior to April 2007, you may have a West State Super account. There are several benefits on these accounts including before-tax contributions not counting towards your annual concessional contributions (instead there is a lifetime cap) and tax not deducted when contributions enter the account, rather on exit.
You may be able to increase tax deductions to offset paid employment, self-employment, distributions from trusts or company dividends, or offset capital gains tax.
If you were a WA public sector employee prior to 1995, you may have a Gold State Super account. Benefits of Gold State Super include not paying tax until the benefit is paid or rolled over to you and certainty of the value of your benefit as the account is not impacted by market performance.
Whether you are currently working in the public system or you started out in public before moving to private practice, you may be in a fortunate position to take advantage of the powerful benefits GESB has to offer.
Our experience with GESB coupled with our knowledge of the wider superannuation and investment markets means we can combine the best of both worlds to achieve your goals.