Superannuation
Super Guarantee Rises to 10.5%
Who is entitled for the 10.5% increase? The increase to the superannuation guarantee (SG) rate from 1 July 2022 will see more employees (and certain contractors) entitled to additional SG contributions on their pay. But what happens when income earned before 30 June is paid after 30 June 2022 – will employees be entitled to […]
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Top 6 Super Strategies To Consider Before 30 June 2022
Boost your super savings with these 6 strategies With the end of financial year (EOFY) fast approaching, now is a great time to boost your superannuation savings and potentially save on tax. Below are six superannuation strategies to consider before 30 June 2022. Tip 1 – Use the carry forward concessional contribution rules If you […]
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Super budget measures one step closer
Proposed super measures to start on July 2022 Several superannuation proposals announced in this year’s Federal Budget have been introduced into Parliament in the Treasury Laws Amendment (Enhancing Superannuation Outcomes for Australians and Helping Australian Businesses Invest) Bill 2021. These measures – all due to start on 1 July 2022 – aim to: Improve flexibility […]
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SuperStream And SMSF Rollovers
SuperStream Standard Self-managed super funds (SMSFs) must be able to receive employer contributions and the associated data electronically using the SuperStream standard. From 1 October 2021, you can only rollover into or out of your SMSF using SuperStream. Also, certain release authorities may be processed in SuperStream SuperStream requires employers to pay superannuation and send […]
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Superannuation Choice Rules To Change from 1 November 2021
Stapled super fund compliance for employers From 1 November 2021, if you have new employees start, you may have an extra step to take to comply with choice of fund rules if they don’t choose a super fund. You may now need to request their ‘stapled super fund’ details from the ATO. A stapled super […]
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Your Future, Your Super (What It Means For You)
Recent legislative reforms set to change the retirement savings landscape Recent legislative reforms to the superannuation arena are set to change the retirement savings landscape for many Australians. The legislation increases the maximum number of allowable members in self-managed superannuation funds (SMSFs) and small APRA funds from four to six from 1 July 2021. The […]
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