Bonds - a tax efficient option.
Investment bonds (also known as 'tax-paid bonds') are generally considered long term investment vehicles offering tax efficiency.
An investment bond can be capital guaranteed (investing in cash and other conservative investments) or unit linked (where investors’ funds are pooled together in order to provide individuals with access to investment opportunities that may not otherwise be available to them).
There are a number of investment bonds and investment options available to suit aggressive, moderate or conservative investors.
Funeral bonds are specifically designed to set aside funds for the owner’s future funeral expenses. The proceeds of a funeral bond are paid to the owner’s estate or assigned directly to a funeral director, and provide investors with peace of mind knowing their needs will be looked after without further burdening their grieving loved ones. Funeral bonds can also have social security and taxation benefits. .
Education savings plans - an innovative way to save for a child's education.
As their name suggests, education savings plans are unique investments purpose-built to allow investors to save for their child’s education and career-training in a simple, affordable and tax-effective way.
Education savings plans aim to provide a flexible investment with tax advantages for those saving for a child's education. Investors can choose to contribute small or large lump sums, establish regular savings plans or withdrawal funds if required. Education savings plans also ensure investors remain in control of their investment, allowing them to nominate new student beneficiaries and switch between a range of investment options.
Proceeds from an education savings plan can be used for almost any education, vocational or career-training course or expense, including overseas courses. Student beneficiaries may also be able to access a living allowance to assist with living expenses when they are studying full time.