Super

Paying super is compulsory for all employers, regardless of whether their staff are employed part-time, full-time or contracted. It’s important to remember that paying super for your workers isn’t a ‘tax’ or form of government revenue; it’s an entitlement to serve your workers in retirement. With regular changes being introduced in regards to super contributions, […]

No matter the kind of super fund you opt for, you will be subject to super fees. Understanding how these fees work and the difference they can make to your nest egg is vital. When it comes to super fund fees, there are two factors you need to get your head around; the kinds of

The end of March brought the Federal Budget, announcing key changes to taxation and business. For super, the minimum pension drawdown amount for 2023 was in the spotlight. The Federal Government intends to extend the reduction in the minimum pension drawdown for super pension recipients for another year (2023). The minimum pension amount will be

Regardless of the careful planning you dedicate to your retirement, individuals who leave the workforce to retire and access their super may decide they want or need to return to work.   Understanding how the choice to exit retirement can impact upon your superannuation is important; disregarding the potential risks involved with returning to work

You may be able to claim a tax deduction for any personal super contributions you may have made to your fund in your next income tax return. But to do so, you will need to ensure that you have lodged a notice of intent with your superannuation fund prior to claiming and by a certain

Most people will want to keep as much money in their superannuation account for as long as possible. One of the primary reasons behind this is that the longer the superannuation has a chance to stay within the account, the more returns may be seen (depending on how the investment assets are performing).    Often,

Strict investment rules govern how trustees can acquire assets through self-managed super funds (SMSF) from related parties When it comes to acquiring an asset from a related party, a trustee must ensure it is an ‘arm’s length transaction’, in other words, the asset is purchased at market value. These rules not only apply when purchasing

Over the last few years, everyone has been able to claim a tax deduction for personal contributions to their super fund, provided that they have been able to meet certain conditions. First, the tax deduction cannot put you into a negative income position. A negative income position is when the expenses exceed the revenues –

Disasters, be they natural or man-made, can happen to anyone. It could be a car accident, a tree crashing through the roof, or a bushfire hitting your residence. In any case, an event that causes significant harm or impact that affects someone’s everyday life in an adverse way is never pleasant. Thankfully, as a society,

If you’re working while visiting Australia as an international traveller or are a university student from overseas and earning superannuation, it’s important to remember that you are actually allowed and able to access that money (and before you hit your retirement). People who have visited Australia under a temporary visa, and been employed in a