Superannuation
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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Super Comparison Tool
Superannuation fund Are you ready to take control and compare your superannuation fund’s performance against other funds? You might be in luck if you have a MySuper fund as the ATO’s YourSuper comparison tool can help you compare different MySuper products and choose a superannuation fund that meets your needs. What is a MYSuper fund? […]
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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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