Education Savings Plans are investment vehicles designed to be used for your children's education expenses. They often provide a range of investment options for investors. Investors can choose their investment options according to their investment attitude and needs.
Education Savings Plans are considered as a form of tax-paid investment as investment earnings are taxed at the fund manager level at a maximum rate of 30%. Investors are not required to report the investment earnings of their Education Saving Plan on their tax return. Generally, no further tax is payable on withdrawal provided that the funds are used for eligible education expenses.
Anyone who cares for a child can set up an Education Savings Plan.
Wealth Edge Financial Services provides specialist financial advice in areas that include superannuation, investment, retirement planning and insurance to personal and business clients. The expertise and strategies we use are invaluable in assisting you to move from where you are today