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Centuria LifeGoals is an investment product that allows you to access 31 investment options including low cost index funds, best of breed active managers and ESG Funds. The funds pay tax at a maximum rate of 30% less allowable deductions on behalf of investors. As tax is paid within the fund, investors do not have to declare fund earnings in their tax returns.
Investments can be made with as little as $500 through an easy to complete online application process.
Within the online application, Centuria has included a “Green ID” system, where an Investor’s identification can be verified within seconds, making the online application process even quicker.
The minimum an investor can invest, in an individual investment option is $500, and there is no limit on how much an investor can invest during the 1st year.
Investors can choose to set up a regular savings plan, whereby Centuria will direct debit from your nominated bank account a set amount at a frequency at your choosing, being either Monthly, Quarterly or Annually.
Alternately, Investors can complete an online additional application form available in Centuria Investor and funds can be transferred by either BPAY or Electronic Funds Transfer (EFT).
You can add up to 125% of the previous year’s total contributions without resetting the start date of your investment. This is known as the 125% rule.
This allows you to invest more every year and grow your portfolio. For example, if an Investor invested $100,000 during the 1st year, they could invest a maximum of $125,000 in the second year without having to reset their initial investment date.
Yes, you can. Withdrawal requests are paid directly to your nominated bank account within 14 days of receiving your request.
An investor in Centuria LifeGoals can withdraw all or part of their investment at any time.
If you withdraw prior to the 10-year investment period, you will normally only pay tax on the difference between 30% and any higher marginal tax rate applicable to you in that financial year on your earnings. In years 9 and 10 this difference is discounted by one-third and two-thirds respectively. However, no additional tax may be payable if a withdrawal is made in the following exceptional circumstances (regardless of whether it is made within or after 10 years): death, accident, serious illness or other disability affecting the Life Insured.
After ten years you pay no tax on withdrawals regardless of your personal tax rate.
Centuria Life pays tax on the earnings attributable to the product rather than the underlying investor. The Investment Options are a type of tax-paid investment. This means an Investor does not need to include the investment earnings in their personal tax return.
Centuria LifeGoals offers a carefully selected range of 28 externally managed investment bond options across a range of risk profiles. The Centuria Life Investment Committee conduct extensive research in the fund selection process to deliver access to high quality fund managers in their sectors. Investors have access to investments across a range of asset classes being, Cash, Fixed Interest, Australian Shares, International Shares, Property and Infrastructure.
Additionally, there are three multi-manager Investment Options available that are managed by Centuria Life. The External Managers and underlying investments in each of the Investment Options have been selected based on the screening and asset allocation by the Centuria Life Investment Committee.
Life is unpredictable and you never know when you might need to access your money (or simply want to start spending sooner). With the flexibility of Centuria LifeGoals, you can make withdrawals at any point and you don’t have to wait until retirement.
It is easy to set up your investment and a regular investment plan via our online application form. Plus you don’t have to declare earnings from your investment in your annual tax return or keep any ongoing tax records while your investment is held. We will send you an annual statement and regular confirmations to keep you updated on your investment.
Yes, you can transfer ownership of your Centuria LifeGoals investment at any time without tax implications.
This can be completed by using the Memorandum of Assignment form that can be found in the PDS & Forms section of the Centuria LifeGoals website.
A Child Plan is a feature of Centuria LifeGoals, where you can invest for children below the age of 16 years as an endowment, whilst maintaining full ownership, control and access, until ownership automatically transfers to the nominated child when they reach the Vesting Age nominated by you.
The Vesting Age must be between 10 and 25 years of age.
Because LifeGoals is technically a life insurance policy you can take the advantage of this feature and select a person (Life Insured) upon whose death your investment will mature and become payable. You can also nominate one or more beneficiaries (Nominated Beneficiaries) who will receive the proceeds from your Centuria LifeGoals investment tax free in the event of your death.
You can also use the assignment (transfer) feature of LifeGoals, and transfer ownership of your Centuria LifeGoals investment at any time without tax implications to you or the assignee.
Unlike Superannuation, investors have access to their investment and can make withdrawals at any time. This can be particularly useful for investors who want to accumulate wealth in a tax effective environment while still having access to funds.
Additionally, investors can make unlimited contributions during their first year invested in a Centuria LifeGoals Product and then each year contribute up to 125% of the previous years contribution, whereas superannuation is subject to caps on how much an investor can contribute each year and a cap on total lifetime contributions.
Individuals (single or joint holders), trusts or corporate entities are able to invest in LifeGoals with exception of LifeGoals Child Plan where only individuals can invest.
You can contact our Investor Services team on 1300 50 50 50 or email at firstname.lastname@example.org.
Performance information can be found on this website.