Superannuation.
Superannuation for business owners: contributions, SMSFs, caps and retirement planning.
Superannuation·4 February 2026
Payday super is coming from 1 July 2026. What small businesses need to know
From 1 July 2026, the way superannuation is paid in Australia will change.Under the new payday super rules, employers will need to pay super at the same time as wages are paid to employees. For many small businesses, this is a shift away from monthly or quarterly super payments and it will require p
Superannuation·3 July 2023
How to claim personal Superannuation contributions at tax time
July 3, 2023 | Superannuation Adding funds to your super is a great way to save for retirement and plan for the future. But did you know that you can make extra contributions and also claim them on your tax return to boost your refund? Contributions from your employer aren’t the only way to grow…
Superannuation·10 March 2023
Eligibility change to the downsizer superannuation contribution concession
March 10, 2023 | Superannuation Downsizer contributions can be an excellent way to build a member’s superannuation balance. From 1 January 2023, those who are aged 55 and over, may be able to make a ‘downsizer contribution’ to their superannuation fund from the proceeds of the sale of their family h
Superannuation·8 March 2023
Proposed changes to high superannuation member balances
March 8, 2023 | Superannuation As Australia and the world starts to move forward from peak COVID-19 times, recouping the significant financial support provided during the start of the pandemic, has become a high priority for the government. The government has announced a proposal to reduce the conce
Superannuation·21 July 2022
Important changes for employees’ superannuation within XERO!
July 21, 2022 | Superannuation The merger of Queensland’s two largest superannuation funds QSuper and Sunsuper continues and on July 1, 2022 a major change that affects employers who contributed to these funds for their employees. Australian Retirement Trust (as the merged fund is known), has update
Superannuation·10 June 2022
Changes in Super Guarantee for 2023 financial year
June 10, 2022 | Superannuation Two essential changes in Super Guarantee will apply from 1 July 2022. As a business owner, it is important that you are on top of these. To help you out, we have created this easy guide to run down what they are, what this means and what you need to…
Superannuation·22 September 2021
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 your employee onboarding process. What has changed? Wher
Superannuation·12 August 2021
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 detail
Superannuation·24 June 2021
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 to increase th
Superannuation·18 May 2021
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 relatives of members). We’ve set out some of the comm
Superannuation·12 May 2021
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 in the age of people that ne
Superannuation·22 April 2021
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 I don’t pay super on time? With
Superannuation·16 April 2021
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 is the minimum percentage of a sala
Superannuation·22 September 2020
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 1 July 2019, most employers have been required to report each pay run to the ATO electronically. Thankfully XERO (or Keypay) will do
Superannuation·3 December 2019
New Salary Sacrifice Rules
Written by Dante Garcia Revamping salary sacrifice rules Draft legislation, intended to prevent employers from using employee salary sacrificed amounts to reduce their minimum superannuation guarantee, is currently before Parliament. The Treasury Laws Amendment Bill 2019 was first presented to the
Superannuation·5 November 2019
ATO To Begin Returning Money From Inactive Super Accounts
Across November 2019 cash payouts are about to arrive in the bank accounts of an estimated 2.6 million Australians, and for many it will be a surprise. From Friday the 1st of November you will either receive money in your everyday bank account or your superannuation account from the ATO. This comes
Superannuation·15 October 2019
The Super Guarantee Amnesty Is Back
The Government has brought back the Superannuation Guarantee (SG) amnesty. Employers will now be able to self-correct any of their SG obligations they have fallen behind on, only facing reduced penalties. However, employers who do not take advantage of this limited-time amnesty will face harsh penal