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 »
The increase to the superannuation guarantee (SG) rate from 1 July 2023 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 2023 – will employees be entitled to the higher SG rate of 11%? SG
Super guarantee increases to 11% Read More »
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
Super pensions and the Commonwealth Seniors Health Card Read More »
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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