Understanding Your Super Guarantee Obligations: ATO’s New Nudge Pilot Initiative

By Karyn Clarke / April 9, 2024

The ATO is expanding its use of data to help employers meet their super guarantee (SG) obligations. From March 2024, the ATO will conduct a small nudge letter pilot, contacting a limited number of employers by letter. These employers appear to have outstanding SG obligations for the 1 April 2023 – 30 June 2023 quarter and the […]

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Super contribution caps to increase on 1 July

By Wen Wen / March 12, 2024

For the first time in three years, the superannuation contributions are set to increase from 1 July 2024.  Contribution caps to increase Due to indexation, the contribution caps will increase on 1 July 2024 as follows: What are concessional contributions? Concessional contributions (CC) are before-tax contributions and are generally taxed at 15%. This is the […]

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Returning To Work After Retirement

By Wen Wen / March 5, 2024

Most people look forward to retirement as it is a chance to finally relax, enjoy life, and do things they never had time for when they were working. But sometimes things change and some people feel the urge to return to work. If a return to work is inevitable, it is important to understand the […]

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How to reduce your income tax bill using superannuation

By Wen Wen / October 10, 2023

Did you know you can reduce your income tax by making a large personal tax-deductible contribution from your take-home pay to your super? This strategy may be particularly useful if you will be earning more income this financial year or if you have sold an asset this year and made a large capital gain. What […]

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Super pensions and the Commonwealth Seniors Health Card 

By Wen Wen / June 27, 2023

Are you a self-funded retiree who does not qualify for the Age Pension? If you’ve answered yes, then help may be available for certain living expenses by way of the Commonwealth Seniors Health Card (CSHC).  What is the CSHC? The CSHC is a concession card enabling access to  cheaper health care and some discounts if […]

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Proposed Tax On $3m Super Balances

By Wen Wen / April 18, 2023

Individuals with large superannuation balances may soon be subject to an extra 15% tax on earnings if their balance exceeds $3m at the end of a financial year. What has been proposed? Recently, the government announced it will introduce an additional tax of 15% on earnings for individuals whose total superannuation balance (TSB) exceeds $3m […]

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