With the end of financial year 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 2024. Use the carry forward concessional contribution rules If you want to make up for lost time and make extra contributions to top […]
Six super strategies to consider before 30 June Read More »
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
Understanding Your Super Guarantee Obligations: ATO’s New Nudge Pilot Initiative Read More »
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
Super contribution caps to increase on 1 July Read More »
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
Returning To Work After Retirement Read More »
Looking to boost your employees’ skills and your tax deductions at the same time? Then keep reading to see if you could be eligible for the small business skills and training boost! If you run a small or medium business and are planning on investing in, or recently invested in, training your employees, taking care
Small business skills and training boost Read More »
Sometimes promoters of schemes target self-managed super funds (SMSFs). Schemes can include tax avoidance arrangements that inappropriately channel money or assets into your SMSF so you pay less tax. They may also include arrangements promoting the illegal early release of benefits from your fund for personal use. To assist you with identifying schemes that may
Avoid schemes targeting SMSFs Read More »