Superannuation
How to reduce your income tax bill using superannuation
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
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
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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SMSF Compliance – What’s On The ATO’s Radar?
SMSF compliance: what’s on the ATO’s radar? In a recent speech, ATO assistant Commissioner Justin Micale outlined the ATO’s latest compliance issues for those who operate an SMSF. ID fraud and investment scams While ID fraud and investment scams are still quite rare in the SMSF sector, they are becoming more prevalent. In the 2022 […]
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Bridging the super gender gap
Superannuation gender cap is REAL Fresh statistics released by the ATO reveal that the superannuation gender cap is very real. While the average super balance for a man is $161,834, for a woman, it’s $129,506 – a massive 25% difference. This gender gap begins in peoples’ twenties, mostly caused by wage differences and time off […]
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Insurance: Inside Or Outside Super?
Personal insurance, why the need? Most people insure their personal assets, such as their house, contents and car, but when it comes to personal insurance, many overlook the importance of protecting their wealth because personal insurance is often seen as unnecessary, a luxury and an additional cost to pay for. Unfortunately, we don’t know what’s […]
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