Payday Super: What Employers Need to Know

Payday Super: What Employers Need to Know January 9, 2024|Business, Superannuation, Tips and Tricks In the latest Federal Budget delivered in May 2023, the government announced the introduction of ‘payday super’, which is proposed to come into effect on 1 July 2026. In this article, we will break down the basics of what payday super…

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How to claim personal Superannuation contributions at tax time

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…

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Eligibility change to the downsizer superannuation contribution concession

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…

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Proposed changes to high superannuation member balances

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 concessions…

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Important changes for employees’ superannuation within Xero!

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 updated its…

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Changes in Super Guarantee for 2023 financial year

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,…

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Super Changes from 1 July 2022

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…

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5 crucial superannuation updates you may have missed

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…

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What you need to know about the increase in mandatory Superannuation Guarantee Contributions

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…

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