Australian property tax and expatriate tax expert STEVE DOUGLAS explains how to enjoy tax incentives on your superannuation fund.

Q. I’m depositing funds into my Australian superannuation fund – will I get a tax deduction?

A. Overseas residents can still make a contribution to their Australian superannuation fund and it can be claimed as a tax deduction. But some important factors should be considered.

            Contributions can only be claimed as deductions to a maximum that will take your taxable income to nil. For example, if your taxable income from property rental or other taxable items is A$3,000, even if you contribute A$10,000 to your superannuation fund, you’re only able to claim A$3,000. This is important to remember, as you’ll need to notify your superannuation fund manager to ensure they deduct the correct amount of contribution tax and record the balance as a personal contribution. Should you fail to do so, you might end up losing 15 percent of your contribution unnecessarily.

            Maximum annual deductions are A$25,000 if you’re 50 years old and younger and A$50,000 if you’re older. Make your contribution before June 30, as the funds must first be cleared to ensure a tax deduction.

            If you have no other taxable income or a tax loss, then a superannuation contribution will create no tax benefit, as it can’t increase a loss any further. In such a case, it’s better not to make a contribution unless your sole intention is to increase your retirement savings.

            In most cases, cash is better invested under your personal name, as there’s no tax on dividends or capital gains on share investments in Australia for persons living outside of Australia, whereas your superannuation fund may be taxed if invested in contributed funds. Furthermore, if you’re still facing a sizeable mortgage on your intended Australian residence, it’s wiser to keep the money out of the superannuation fund so it can be used to reduce the debt on your home. You can then make additional future contributions from the cash flow savings of having a low or zero private mortgage.

            Superannuation is an important part of retirement in Australia and comes with some special tax incentives. But it needs to be balanced with your overall objectives. Don’t be overly concerned if you’re not contributing to a superannuation fund while overseas, as long as you can see some increase in your overall financial circumstances. Focus on building an increased savings base that can be used to financially support you upon your return to Australia. Once you’re confident funds are sufficient to ensure a comfortable lifestyle, then consider making voluntary contributions into your superannuation fund.

Dr Amanda Wong of SMILEFOCUS explains how fluoride promotes good dental health. 

 
Dentists are often asked about the benefits of fluoride – a natural mineral found in many foods and all drinking water, which is safe and effective when ingested appropriately. Research shows fluoride plays a protective role against tooth decay. And because it helps to form tooth structures, fluoride is particularly beneficial for children.
         
          This is especially good news for parents, as children’s teeth are susceptible to decay as the enamel of their teeth is softer and thinner, compared to that of an adult. When sugar or food acids come into contact with young teeth too often, or for too long, damage can result. The softness of baby teeth also means decay can spread rapidly – sometimes in a matter of months – moving into the central pulp or nerve area of the tooth more easily and faster than in adult teeth. While a protective dental sealant can protect against decay-causing bacteria, it’s important to be vigilant.

          Topical fluorides are found in toothpastes, mouth rinses and professionally-applied fluoride strengthen teeth making them more resistant to decay. Fluoride applied by your dentist is stronger and will last longer. Effective dental decay prevention requires a proper mix of both topical and ingested fluoride. But too much ingested fluoride in young children during tooth development can cause white spots or staining of the tooth’s enamel – so don’t let your child eat toothpaste!

          The majority of bottled waters don’t contain optimal levels of fluoride. And while we’re fortunate Singapore has some of the best drinking water in the world, certain types of home water treatment systems can reduce the fluoride content in the water supply.

          An alternative to fluoride is Tooth Mousse. While it may not be a fluoride, it does share similar benefits. Tooth Mousse is a topical agent which contains the protein casein-phosphopeptide amorphous calcium phosphate (CPP-ACP), which protects teeth from decay by binding onto tooth and gum surfaces, increasing the bio-availability of calcium phosphate and neutralising acidic saliva. CPP-ACP is a recognised food additive and is safe to use – unless you’re allergic to milk proteins. Tooth Mousse is only available from your dentist, is sugar and fluoride-free and available in a variety of tasty flavours.  

          Seek advice from your dentist about your family’s specific fluoride needs and educate your child from a young age about healthy eating and drinking habits. Explain how a good diet is linked to good oral health and the positive steps your child can take, to encourage a long-term healthy approach to dental hygiene.

Dr Amanda Wong B.D.S. (Adelaide)
Dr Amanda Wong is a general dentist who is particularly gifted in treating children. New to smilefocus, Dr Wong is known to be a very patient dentist with a good sense of humour.

Aidan Bailey of THE FRY GROUP cautions UK savers on what to look out for as inflation rates spike and interest rates remain low.

In April 2010, the UK’s Consumer Price Inflation (CPI) rose from 3 percent to 3.4 percent. This, according to the Office for National Statistics (ONS), was the result of a relatively strong dollar, higher refining costs, the increasing price of oil and food and the rising price of imported goods due to a weakened Pound Sterling. The continuing rise in Value Added Tax (VAT) ­– 17.5 percent as of January – and flat gas bills, which plummeted this time last year, have also contributed. Other rising costs include clothing prices and airfares – which increased by 11.3 percent in 2009.

          These figures are bad news for UK savers, as the real value of your savings will diminish rapidly if you can’t find accounts paying rates to match the inflation increase. For expatriates, finding a bank account offering more than 3 percent is a challenge and the hurdle is even higher for UK tax payers. The inflation rate has now exceeded the Bank of England’s set target of 2 percent and is at its highest level since January 2010. According to financial website Moneynet, savers paying basic rate tax need to find an account paying over 4.25 percent to ensure their savings keep pace with inflation. Higher rate taxpayers would need to find an account paying 5.67 percent to match CPI figures.

          So why aren’t interest rates rising? Despite the sharp rise in prices, analysts expect the rate of inflation to take a back seat as weak economic growth and high unemployment dampen rising prices. This theory is further underscored by the governor of the Bank of England, Mervyn King, who has implied inflation will shrink towards 2 percent in the coming months. Analysts expect the Bank of England to keep interest rates low, in order to stimulate growth. "We would not expect the Bank of England to be swayed by short-term movements in commodity prices, so today’s figures should not have much bearing on interest rates. We still expect rates to remain on hold for the remainder of this year," said Hetal Mehta, Senior Economic Adviser to the Ernst & Young ITEM Club. 
          UK interest rates have been at a record low of 0.5 percent for 13 consecutive months. Policy helped bring the UK economy out of recession in the last quarter of 2009 – when it grew by 0.4 percent.  But if prices continue to rise sharply, the Bank’s Monetary Policy Committee (MPC) may have to raise rates. And if the CPI inflation rate remains above 3 percent, Mr King will have to write yet another letter of explanation to the Chancellor.

Aidan Bailey BA (Hons) CertPFS AWP^CM 
General Manager Singapore, International Division

ELISABETTA FRANZOSO explains the connection between wellbeing and feelings, the sixth focus of the Wellness Inventory Wheel.

From the moment we’re born, we experience emotions. Emotions can be intense and wonderful, but can also be misunderstood and mistreated.

Reality Check Our emotions serve to motivate thought and action. Imagine how boring life would be without them! But as we grow older, we often judge, repress, drug, swallow, worship or turn away from our emotions.

Insight We only feel whole, fully human and alive when life is filled with emotion. From our earliest years, many of us have been conditioned to label some emotions as “good”, while others are “bad”. We’re taught while it’s acceptable to feel happy, expressions such as anger, sadness, frustration and fear can make others uncomfortable. And while some feelings are approved of and can be practiced openly, others should be avoided.

Result Children are aware of four basic emotions – joy, fear, sadness and anger, encompassing the full spectrum of human feelings. Due to poor emotional intelligence, some of us have a dulled awareness of emotions, accepting the notion that some feelings are “bad”. At the same time, we may wonder why our lives aren’t richer, or more satisfying.

Moving Forward There are no “good” or “bad” emotions. Emotions can be categorised, but they are only part of our entire experience. All emotions can be felt and expressed in a healthy manner.

Result Increasing your energy, wellbeing and ability to feel “alive” means becoming aware of your feelings. Start by embracing all kinds of feelings and develop healthy ways of managing and expressing your emotions. The creative tension of joy and sadness any moment may hold can only reenergise and spice up your life, allowing you to achieve great results in your family life and at work!

Q. How is emotional awareness connected to emotional intelligence?

A. Emotional intelligence is your ability to monitor your own and others’ feelings, to distinguish them and use this information to guide your thoughts and actions. Emotional awareness sets the foundation for emotional intelligence. The ability to know and embrace your emotions allows you to achieve true happiness and success.

Q. How can I increase my emotional awareness?

A. Ask yourself “What am I feeling?” throughout the course of each day. This is the first – and simplest step – towards increasing your emotional awareness.

Elisabetta Franzoso BA, Dipl.Psych, MSocSc Author of Stella’s Mum Gets Her Groove Back available at bookstores and www.amazon.com
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Elisabetta Franzoso is a highly self-driven coach and motivator who focuses on communication, self-expression and wellbeing. Her passion is to empower people to achieve excellence and transformation from the inside out. To complete your Well-Being Inventory Index and get your detailed personal Health and Wellness Assessment, contact Elisabetta and her team of professional Life Coaches, Psychological Counsellors, Fitness Trainers, Nutritionists, Physicians and Body Therapists.

Those who ran the Bintan Triathlon 10km leg a few weeks ago were heard bemoaning the "undulating" nature of the course and wondering where on earth in Singapore they could train amidst similar terrain. Many pondered MacRitchie might be the answer, others felt the only way to get a true training ground for both the run and bike legs was to return to Bintan ahead of time, to train on the actual course. But there is another option… for those who enjoy running - or want to get into running - and are bored of their usual route, you could always become a Hash House Harrier! Click here for a full list of Singapore chapters - 10 in all.

Hashing actually started in December 1938 in Kuala Lumpur, when a group of expats and British soldiers met for a run on Monday evenings to burn off the "excesses of the weekend". Although hashing ground to a halt after World War II, it started up again in Singapore in 1962 and has spread right through the world since - there are now 2,000 chapters throughout the globe. Each week a member has to map out a course of 6km to 10km, followed by beers at the finish line and dinner thereafter. A great way to meet new friends and stay fit, the original constitution of the Club is recorded as:

• To promote physcial fitness among members
• To get rid of weekend hangovers
• To acquire a good thirst and to satisfy it in beer
• To persuade the older members they are not as old as they feel

The original Hash House Harriers Singapore (men-only chapter) has been running every Monday since 1962, while the  Lion City Hash House Harriers (men/Harriers and women/Harriettes) have been running every Friday at 6pm since November 26,1982.  And there’s not one bit of this island home they haven’t covered on foot! Every year there’s also an Interhash, where chapters from all over the world meet up. The next one is close by, in Borneo from July 2 to 4. Click here for more info.

Check the websites for details of the next Singapore Hash, bike Hash or Horrors (kids) Hash. There’s something happening every day of the week, so get moving…

This weekend (May 22-23) I’m all geared up for the Bintan Triathlon! Well, I say geared up, technically I’m an active observer - part of the cheer squad. It looks like it could be quite a wet weekend, but I’m hoping there’s a spot of sunshine amongst the clouds and to all those who’ve trained hard - good luck!

Back in Singapore, the Great Singapore Sale is about to kick into high gear. But if you’re eager to save a few pennies and be entertained for free, my vote is to attend Sinema Showoff! - a free monthly showcase of short films and selected music videos produced in Singapore, by local and foreign filmmakers. All of this month’s films have been shortlisted at international film festivals around the world and many of the filmmakers will be in attendance for a Q&A session.

WHERE: Sinema Old School, 11B Mount Sophia, #B1-12.
WHEN: Tuesday May 25, 7:30pm
TICKETS: Free
OUR PICKS:  Deliah Before - the story of a Singaporean teenage mum battling with her own mother, over resuming custody of her two year old daughter. And Sunrise (pictured left), in which a Khmer boy valiantly does his best to care for his two little sisters in their ramshackle wooden stilt-house. Click here for full movie listings.

I’ve just finished reading Skinny Bitch, the New York Times bestseller by Rory Freedman and Kim Barnouin - two straight-talking, sassy Americans who’ve written a "wake-up call and kick in the ass, for savvy girls who want to stop eating crap and start looking fabulous." While I can’t admit to being ready to follow every word of wisdom (baby steps), I have taken the first step of removing meat from my diet by going Pescatarian. It sounds like a religion - and for some probably is - but it’s basically eating veggies and seafood only. I’m not sure how long this new "plan" is going to last, but I am definately feeling much healthier and am steadily losing weight. You’ll have to read it yourself to find out why the authors believe meat is a no-no, but suffice to say there are both nutritional and ethical arguments behind their reasoning. And there are of course nutritional arguments elsewhere for eating meat. It’s different strokes for different folks. My only advice, don’t read the chapter on animal cruelty before going out to dinner. I did and had to turn down my one chance to enjoy a decent bit of lamb - at the Kiwi Ball!

If you prefer to ease your way into a new health regime gently, or have a bad habit - smoking, sugar, alchohol, lethargy - you want help in kicking to the curb, check out BeachFit - a health retreat at a private villa in Koh Samui run by Singapore-based Australian figure athlete, master trainer, nutrition coach and performance nutrition specialist Roz Alexander of Revolution Fitness. BeachFit is offering 10% off its rates for May and June dates, with prices now from USD$1,000 per person twin-share for 3 nights and USD$1,350 for 4 nights,including:

• Return airport transfers
• Fully self-contained ensuite room at luxury villa Ban Suriya
• 6 meals per day - fresh, organic Thai-style food - much of it sourced from the villa’s kitchen garden
• Non-alchoholic drinks and juices
• Daily cardio sessions
• Daily resistance/circuit sessions
• Daily massages
• Daily yoga
• 2 highly-informative seminars on nutrition, exercise and supplements
• Movies under the stars on the lawn by the beachfront
• Evening Thai lantern ceremony on the beach
• 5-star service and fully-staffed villa including 2 pools and a range of villa activities
• Late check-out of 3pm

You can also request foot reflexology, pedicures, muay Thai boxing, one-on-one training sessions - even fireworks on the beach! Whether you’re travelling solo, with a group of girlfriends or trying to encourage your other half to live a healthier lifestyle in fun way, BeachFit is a great way to focus on YOU and start giving your body the love it deserves…click here for upcoming dates and more info!

I was raised in a household with two working parents. My mum was PA to the head of the ABC and often earned more than my father, who at that time was a milkman by night and accountant by day. Thanks to dad’s split hours, he was often there for us when we came home from school, but he and my mother didn’t get to see very much of each other for quite a few years. 

Women of my age group and under (I’m 37) have been taught to think we can have it all - career and kids. But can we? I know that right now my career fulfills me beyond measure, gives me great purpose and the thought of every having to give it up fills me with dread. But I also remember how it felt to have my mum miss my school performances, never pick me up from the school gates like other mums and  feed me courtesy of the freezer and microwave. I don’t blame her, she didn’t have any time for me, let alone herself. And I did grow up having nice things, but to be honest I really can’t think of what they were…

Even without children, working women today are still expected to whip up an evening meal out of thin air (or a bare fridge), coordinate holidays and social calendars and find time in there somewhere to exercise and take care of their mental, physical and spiritual health. When getting a pedicure seems like a chore, you know it’s time to slow down and live in the moment!

I recently attended a Leadership Forum hosted by Women Mean Business - a women’s group started by ipac. They host monthly meetings where women can glean information and advice from experts in all manner of fields, to improve their day-to-day life and achieve long-term goals, such as financial independence - something many married women don’t think about, assuming they’ll be married forever, but it doesn’t always work out that way.

At this recent forum two speakers really held my attention. The main thread of their advice was to live in the moment. That whatever we’re doing, to be absolutely present at that time. If we’re at work, focus on the task at hand without any social or personal distractions. When we’re at home, give our undivided attention to our husband or our children and switch off our phones, Blackberries and laptops. By pursuing a task with a sole intention we get lost in it, giving the matter or person undivided attention and quality time. Then we can move on to our next task, knowing we’ve done our very best and minimising any guilt.

Some words of wisdom from the speakers:

Rhodora-Palomar Fresnedi
Former Global Vice President, Head of Diversity, Unilever
Founder and Manaing Director, Except One Pte Ltd

1. You’re the only one judging your own success. Think of what success means to you - not someone else’s standards - and set out to achieve your version of success.
2. There’s no age limit or time limit on success. Many authors and actors only hit the big time in their later years.
3. Timing is everything - and nothing. It’s how you define it.
4. Be authentic. Be good at being YOU. Work out your strengths and what you enjoy doing and focus on that, not an idea of what you wish you could be or could do.
5. Follow your heart. Think about what it is that you really like to do. Do you really like having something, or do you enjoy the buzz of creating it - the process.

Catherine Williams
Chief Financial Officer - Asia, Clearwater Capital Partners
Mum of four - yes four - kids!

1. If you want to pursue a demanding career, live in Asia where you can employ an outstanding helper to manage your home - and you!
2. Manage your expectations. We are our own toughest critic. You are probably doing the very best you can. And if things aren’t working, change them.
3. Is "it" really important? Or do you just think it is.
4. Manage your time efficiently. Use a family calendar or planner and always create "to do" lists.
5. Be present and "there" when you’re with your family.
6. Use your support network. Always be open to asking for, offering, and accepting help. You may not have an extended family in Singapore, but you will have good friends and a wide range of experts who can help you. Home and work are team efforts, not sole enterprises.
7. Stay strong, healthy and fit. Exercise regularly, eat healthily and get regular check-ups - your health is the cornerstone of all you do and can achieve. Without it everything suffers.
8. Communicate with your partner, colleagues, boss if things aren’t working - and praise them if they are.
9. Have a laugh with your girlfriends. Arrange a regular girl’s night out or lunch - you need your friends!
10. Trust in and thank others. Gratitude comes back tenfold and makes everyone - even you - feel appreciated.

What about you, do you have any tips you’d like to share?

I believe anyone who has a salary, savings and food on their table is in a position of privelige and should be able to give back. Even those who have very little are often the first to reach into their pockets. Majella, owner of children’s furniture store ni-night and a good friend of mine, works with SIR Move Services to arrange for containers filled with necessities and a few luxuries, to be shipped to some of Cambodia’s orphanages. This in itself is an amazing thing to do and a lot of hard work to coordinate. But she recently recounted the story of someone who didn’t have anything to give away but ended up making the most touching contribution of all. This individual didn’t have a TV, tennis racquet, books or clothing and they couldn’t afford a large lump sum donation, but they travelled all the way to her house to pass her $30 in cash, saying they’d saved up the funds and believed the children in Cambodia needed it more than they did. Now that’s giving…

Times bookstores currently has a great "give back" initative. They’ll donate 10% of the proceeds of ANY book by bestselling American novelist Jodi Picoult to Eden School - a vocational school in Singapore for children with autism, in honour of her most recent novel House Rules  - about Jacob Hunt, a teenage boy with Asperger’s Syndrome. I have a few friends whose children are on the Autism spectrum and to see the persistence, dedication and love on both sides is a gift to those of us blessed to know such extraordinary kids and their parents.

So go buy big at Times before May 31, to support Eden School. You’ll receive a free bookmark designed by kids from Pathlight School - Singapore’s first school for autistic children - you’ll change the lives of the kids at Eden School and enrich your own world.