Morning, below is a summary of the changes to the budget relating to super. This being the area of most change. Remember these changes are not yet legislated and mostly will not come into force until 1 July 2017. None of the changes suggest you should remove any money from super. It will continue to… Read More Budget Update 2016 – 7 Main Points
Thinking of coming back to Australia to retire? Then you need a plan in place to utilise the utopian Australian tax system, many years before your feet actually touch Australian soil. In your absence, the superannuation rules have changed such that with a bit of careful planning, once you retire over age 60, you might… Read More Retiring in Australia?
I have written over the past few year or so about the upcoming need to pay superfund contributions via superstream. Now the deadline has arrived for small businesses. It’s compulsory from 1 July 2016. Therefore the April super payments are the last time you can pay super contributions for your employees (or yourself) using cheques,… Read More Superstream – No avoiding it now
Update for 2016. Due to changes since the release of this post, please note the following updates; the $150k non concessional cap referred to in the video is now $180k; and the age at which you can start your transition to retirement pension is linked to your date of birth and may be higher than age 55. … Read More Why Super is so Super
Transition to retirement pensions enable those who are still working to turn their superfund into a tax free pension earlier. The main benefit of this is that the pension fund pays no tax on its income earned or capital gains, enabling it to grow more quickly. The date at which you can turn on a… Read More When Can I start a Transition to Retirement Pension?
Hi So this is one of my favourite strategies for those that want to give their kids something really special & long lasting, and it is so simple. I wish someone had done it for me! First off, did you know that a child of any age can open a superfund – they just need… Read More LOOK AFTER YOUR KIDS IN THEIR RETIREMENT
Hi Well if so don’t be sad, be happy. If you are aged 49 or more on the 30 June 2015 then you can access the higher concessional super cap of $35k in the 2015/16 year meaning you can save more tax and grow more super. So check your salary sacrifice arrangement and adjust it… Read More Are you over Aged 49 today?
Hi An oldie but a goodie this one. If you are over age 56 and don’t have a transition to retirement pension in place then you are paying more tax than you need to. So, unless you are happy donating your hard earned dollars to Tony and his friends, call me to discuss how you can… Read More Over Age 56?
Hi Continuing with the June theme of year end tax saving tips, some of you might like to consider making a super contribution into your spouse’s super account. If your spouse has income of less than $10,800 in the 2015 year, you can receive an 18% rebate on contributions made into their account. The maximum… Read More Save $540 of tax with a Spouse Super Contribution
Super Co-Contribution rules for 2014/5 Yes the co-contribution is still here – just! The maximum the government will pay into your super is $500. To receive this you need to make a personal contribution to your superfund before 30 June 2015 of $1,000, and satisfy all the eligibility criteria as follows….. At least 10% of your income… Read More Free Cash from the Government
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