Grace and Colin Quincy have recently moved to Western Australia from Tasmania because Grace has recently started a new job as a Electronically Remote Controlled Iron Ore loader. Fortunately, the new job has seen Graces salary increase to $195,000 (Gross of Income Tax and including SGC) Colin, on the other hand, decided to walk away from his hair dressing business in Tasmania to support Graces new opportunity. Colin has been able to find work as a window cleaner earning a part-time salary of $23,000 (Gross of Income Tax and including SGC) Colin is 48 years old and has $19,000 in Superannuation. Grace is 53 years old and has $172,000 in Superannuation. They require at least $100,000 after tax for living expenses (Increasing with inflation. Assume 2%). They want to retire when Grace is 65 years old. They want to take advantage of Superannuation strategies to maximise their Superannuation balances at retirement. Each of their Superannuation is invested in UniSuper which they would like to retain. Their Risk profile is Balanced. (assumed future rate of return after fees of 7.3%) Assume they have no other costs and no other assets other than outlined above. YOUR TASKS Acting the role of a financial advisor, write a Statement of Advice for Grace and Colin which covers the following areas of their personal finances: 1. Including calculations, the advantages and disadvantages of Salary Sacrificing. Including a specific recommendation for them. 2. Including calculations, the advantages and disadvantages of Superannuation Splitting. Including a specific recommendation for them. 3. Including calculations, the advantages and disadvantages of Spouse Contributions. Including a specific recommendation for them. 4. Including calculations, the advantages and disadvantages of Government Co-Contribution. 5. Calculations and application of Low Income Super Tax Offset 6. Calculations of how much they will have in Superannuation by the time Grace turns 65 if they implement your recommendations and their Superannuation funds average an 7.3% annual return (before tax and after fees.) Provide calculations in a table format showing year by year contributions, account balances, taxes and investment returns. You have a maximum of 3000 words for this report.