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Apr 20, 2021 / News

Five reasons to check your super statements

Superannuation - every working Australian has an account but not all understand it. The legislation of compulsory super contributions was first introduced in 1992 by then Treasurer, Paul Keating. It aimed to solve the issue of retirement income for all Australians. Twenty eight years on, superannuation assets have grown to a massive $2.7 trillion, an incredible 1.5 times Australia’s gross domestic product. Read more

Superannuation


Apr 14, 2021 / News

Indexation of the Transfer Balance Cap

The All Groups CPI figure for the December 2020 quarter has triggered upward indexation of the general transfer balance cap (TBC) and any unused part of an individual’s TBC (or “cap space”) from 1 July 2021. This sounds like good news, but the bad news is that the indexation system to be used for any individual’s cap space is so complex that it may lead to errors and unintentional breaches of the TBC rules. Read more

Superannuation


Apr 14, 2021 / News

Non Arm’s Length Income (NALI) & Non-Arm’s Length Expenditure (NALE)

One of the benefits of holding investments through a complying superannuation fund is the concessional tax rates of 15% on income and 10% for capital gains (where the asset is held for longer than 12 months) or 0% after the retirement phase pension commences. Read more

Superannuation


Apr 14, 2021 / News

Your Future, Your Super Legislation Introduced

In our Superannuation Solutions Newsletter edition 8, we explained the changes to the superannuation system announced by the Federal Treasurer in the publication Your Future Your Super. The legislation to implement these changes has now been introduced into Federal Parliament as the Treasury Laws Amendment (Your Future, Your Super) Bill 2021. We take this opportunity to outline two important aspects of the draft legislation. Read more

Superannuation


Aug 24, 2020 / News

Top Five Benefits of SMSF Corporate Trustees

Given the extra costs of establishing a company to act as the corporate trustee of an SMSF, why such growth and what are the advantages? Read more

Superannuation


Aug 20, 2020 / News

COVID-19 Concessions

The following has been taken from the SMSF Frequently Asked Questions page of the ATO website, and may be useful to clients whose SMSFs have been affected by COVID-19. Read more

Superannuation


Aug 20, 2020 / News

Delayed Start to Super Changes

Due to a backlog of legislation and the effects of COVID-19, the Federal Government has announced delayed starting dates for a number of super changes. Read more

Superannuation


Aug 20, 2020 / News

Changes to Testamentary Trusts may Affect Super Arrangements

A recent change to the taxation of trust income distributed to minors (people under 18) means that some clients may need to review their estate planning arrangements in relation to superannuation and life insurance benefits. Read more

Superannuation


Aug 10, 2020 / News

Super Guarantee Amnesty– The clock is ticking

The Federal Governments Superannuation Guarantee Amnesty was given royal assent on 6 March 2020 with a six-month timeframe. Hence, the Amnesty window is due to close on 7 September 2020 - it is just around the corner! Read more

Business Consulting / Superannuation


Jun 12, 2020 / News

Your 2020 End of Financial Year SMSF considerations

The COVID-19 pandemic has affected everyone’s lives, and SMSF trustees are no exception. While the worst of the pandemic is (hopefully) behind us, trustees still have difficult questions to ponder as they focus on how best to position their SMSF in 2020-21, as well as meet their annual regulatory obligations for 2019-20. Read more

Financial Planning / Superannuation


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