The government has shared more details about its proposed new “payday super” plan, which will start on 1 July 2026. What is payday super? Starting in July 2026, employers must pay superannuation guarantee (SG) contributions to their employees at the same time they pay their salary and wages – weekly, fortnightly, or monthly. Currently, employers Read more about What we know so far about payday super[…]
Feel free to download a PDF copy of the newsletter What is the right business structure? If you carry on a business – small or large – the question of which business structure to use always arises – and not just from when you start that business, but also during its operation when it may Read more about October 2024 Newsletter[…]
Newsletter: April 2024 Six super strategies to consider before 30 June 2024 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. Tip 1 – Use the carry forward concessional contribution rules Read more about April 2024 Newsletter[…]
May Day – How long is your working day? On Monday we have a public holiday called Labour Day, also known as May Day. Labour Day is a holiday to celebrate the 8 hour working day. During the industrial revolution it was common to work 10 to 16 hours a day for 6 days a Read more about How long is your work week?[…]
MySuper A reminder that from 1 January 2014, employers have an obligation to pay superannuation contributions into a default fund that offers a MySuper investment option unless the employee has exercised choice of fund. Please contact our office if you would like to discuss how this may effect your superannuation obligations. Asset Security Are you Read more about Christmas 2013 + extras![…]
Ever wonder why the ATO constantly warn of fraudulent ATO contact (aka ‘scams’)? People must fall for them all the time as the scammer often appears to be professional and may even provide reference numbers for the calls/emails to keep up appearances. If you receive suspicious contact from the ATO by emails, phone calls or Read more about Fraudulent ATO Contact[…]
Last year approximately 40,000 people contributed too much to their superannuation, with these excess contributions attracting up to 46.5% tax. While the Government encourages us to top up our super by offering a favourable tax environment for super contributions and earnings, it also sets a limit on the amount of contributions that can be made Read more about Super contributions – too much of a good thing?[…]
The super co-contribution is a government measure to boost super savings. If you are a low or middle income earner, you may be able to receive the super co-contribution from the government by making eligible personal superannuation contributions to your fund. You do not have to contribute the full $1,000 to be eligible – any Read more about Free money from the government: super co-contribution[…]
Exciting news, the 2010 federal budget was released last night. Please find attached a summary of the proposed amendments. The attached document is reasonably detailed so feel free to contact myself if you have any queries. Link to the 2010 Federal Budget A brief summary of the budget:• An expected return to surplus in 2012-13;• Funding Read more about 2010 Federal Budget, and other exciting news![…]