Superannuation

Super Changes from 1 July 2022 March 18, 2022 | Superannuation From 1 July 2022, employers will be required to make super guarantee contributions to their eligible employee’s super fund regardless of how much the employee is paid. This replaces the old $450 threshold. This change expands super guarantee eligibility so that employees can receive super…

Important changes to employer obligations for employee superannuation from November 2021 September 22, 2021 | Superannuation From 1 November 2021, if you have new employees start, you may have an extra step to take to comply if they don’t specify a super fund. Luckily it’s only a minor tweak and won’t add substantial effort to…

5 crucial superannuation updates you may have missed August 12, 2021 | Superannuation ATO alerts Since February 2021, the Australian Taxation Office (ATO) has issued alerts to Self-Managed Superannuation Fund (SMSF) trustees via email and SMS when changes are made to the SMSF’s records held with the ATO, including: Financial institution account details Electronic service…

What you need to know about the increase in mandatory Superannuation Guarantee Contributions June 24, 2021 | Superannuation Back in 1992, compulsory superannuation contributions introduced. It was a policy implemented to ensure that Australians were looked after in retirement and to reduce the amount of government assistance required for seniors. When introduced, the plan was…

SMSFs: What can you do, and importantly, what can’t you do with one. May 18, 2021 | Superannuation We often get questions from clients about what they can and cannot do in their SMSF. Often the questions relate to related party transactions – that is, interactions between the SMSF, its assets, and its members (or…

Changes to super out of the 2021 federal budget May 12, 2021 | Superannuation While the budget seems a little light on this time around, there were a couple of hidden gems for individuals, specifically around superannuation.   1. Removal of work test for super contributions for people aged 67-74 Last year saw a change…

4 Questions We Hear about Late Superannuation Payments April 22, 2021 | Superannuation You should always pay your superannuation on time as the consequences can be dire if it isn’t. This article reveals 4 common questions we hear about paying superannuation late and the consequences of doing so.   How will the ATO know if…

Changes to Super after 1 July 2021 and what you need to do. April 16, 2021 | Superannuation Superannuation Guarantee up to 10% The Superannuation Guarantee rate is increasing to 10%, effective 1 July 2021 and will then continue to increase in 0.5% increments until it reaches 12% on 1 July 2025. The Superannuation Guarantee…

Paying your super late is costing you thousands of $$. Pay your super on time to avoid missing out on the tax deduction. September 22, 2020 | Superannuation The ATO is cracking down on late payment of superannuation, so 2021 is the year to get on top of it if you haven’t already.   Since…