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Your Knowledge
Nov 13, 20231 min read
30% tax on super earnings on balances above $3 million
Treasury has released draft legislation for consultation to enact the Government’s plan to increase the tax rate on earnings on...
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Your Knowledge
Oct 11, 20231 min read
30% tax on super earnings above $3m
Treasury has released draft legislation to enact the Government’s plan to increase the tax rate on earnings on superannuation balances...
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Your Knowledge
Sep 7, 20232 min read
Legislating the ‘objective’ of super
The proposed objective of superannuation released in recently released draft legislation is: ‘to preserve savings to deliver income for a...
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Your Knowledge
Jul 5, 20232 min read
Important: 1 July 2023 wage increases
For employers, incorrectly calculating wages is not portrayed as a mistake, it’s “wage theft.” Beyond the reputational issues of getting...
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Your Knowledge
Jun 27, 20233 min read
Super savings and strategies
Tax deductions for topping up super You can make up to $27,500 in concessional contributions each year assuming your super balance has...
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Your Knowledge
May 4, 20231 min read
Right to super to be enshrined in National Employment Standards
The Government has announced that it will enshrine a right to superannuation payments in the National Employment Standards (NES)....
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Your Knowledge
Apr 17, 20231 min read
Update: Tax on super balances above $3m
In a very quick turnaround from announcement to draft legislation, Treasury has released the exposure draft legislation for consultation...
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Your Knowledge
Mar 3, 20232 min read
The ‘Super’ Wars
A consultation paper released by Treasury has sparked a national debate about the role, purpose and access to superannuation ahead of the...
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Your Knowledge
Mar 3, 20232 min read
1 July 2023 Super balance increase but no change for contributions
The general transfer balance cap (TBC) – the amount of money you can potentially hold in a tax-free retirement account, will increase by...
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Your Knowledge
Mar 3, 20231 min read
Future earnings for super balances above $3m taxed at 30% from 2025-26
The Government has announced that from 2025-26, the 15% concessional tax rate applied to future earnings for superannuation balances...
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Your Knowledge
Feb 13, 20231 min read
SMSF reporting changes from 1 July 2023
If you have an SMSF with a total balance of less than $1 million, from 1 July 2023 you will need to report quarterly to the ATO instead...
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Your Knowledge
Sep 13, 20223 min read
Acquiring collectibles inside your SMSF
Clients with self managed superannuation funds (SMSF) often ask what assets the SMSF can acquire. ‘Why’? The golden rule for acquiring...
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