Superannuation
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…
Read MoreHow 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…
Read MoreEligibility 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…
Read MoreProposed 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…
Read MoreImportant 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…
Read MoreChanges 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,…
Read MoreSuper 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…
Read MoreImportant changes to employer obligations for employee superannuation from November 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…
Read More5 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…
Read MoreWhat 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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