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?
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
Dear Employers Just a reminder that in order to ensure you can claim a deduction for employee super you need to pay it on time. If you pay it late. it may not be not deductible as an expense to your business. Additionally there is lots of hideous paperwork required to pay any late super direct… Read More Employee Super is Due
A few reminders for you all, which will hopefully make you a little more comfortable in retirement … If you are an employer (even if your only employee is yourself), then from the 1st July the SGC has increased to 9.5%. Make sure you therefore increase your employee super amounts in the next pay run,… Read More Super ! Contribution Limits Increased
The government’s co-contribution scheme is still in force for the 2012/13 year -albeit in a watered down state. The government will contribute 50% (up to a maximum of $500) of a non-concessional contribution you make to your superfund before 30 June 2013. To be eligible, your taxable income + fringe benefits + salary sacrificed super must… Read More Contribute before June 30 for a free $500
Here are my top 6 retirement plans that are doomed to fail! You would be surprised how often I hear them: 1. Assuming that your spouse will agree to your grand plan of downsizing the family home or moving to a different area on retirement. 2. Assuming that your parents will leave you an inheritance.… Read More 6 Retirement Plans Doomed to Fail
Dear All, We were lucky enough in March to benefit from one of the wide range of activities available at schools today. Short thing went away on school camp for a week! Smelling freedom, we rushed off to Bankstown to take the “home-made plane” for a holiday, and over 4 days we covered nearly 4,000km.… Read More April Reflect: How Much is Enough?
Good Evening All, Ah, March at last thank goodness. Not because March is a particularly exciting month in the world of tax (that’s May), but because once again February was my alcohol free month for the year. I’ve been doing this for years – well before it became trendy. Each year I think I must… Read More March Reflect
Happy New Year to you all! Here’s hoping you had a lovely Xmas. Short Thing & I went to the UK for a couple of weeks to see the family, where it was warmish but wet. We took in a few shows and sights, stomped the streets of London and Bruges, and were amazed at… Read More January Reflect
Each month, I send out a newsletter to my mailing list, with updates, advice and information. If you would like to receive these in your inbox, then sign up over here. Dear All, So, my dreams of cavorting around the countryside in a homemade aircraft have come to fruition of late. Last week, with the… Read More September Reflect: The WAF Factor