There are quite a few changes in the wind that small businesses need to know about from July 1st to stay on the right side of the tax man. Small changes around company taxation, business deductions and superannuation can have a big impact on the way you run your...
superannuation
Super Guarantee Amnesty Resurrected
The Government has resurrected the Superannuation Guarantee (SG) amnesty giving employers that have fallen behind with their SG obligations the ability to “self-correct.” This time however, the incentive of the amnesty is strengthened by harsh penalties for those that...
Retirement in Australia – how much super do we need?
What's a comfortable retirement income in Australia, and how much super do Australians need to achieve it? It depends on who you ask. As we approach retirement, many Australians start questioning whether their superannuation balance is adequate. Perhaps we need to...
Super, insurance and exit fees: The 1 July changes
From 1 July 2019, new laws prevent superannuation funds from eroding member balances with unwanted or unnecessary insurance and exit fees. Plus, inactive accounts with low balances will be moved to the ATO to try and unite the unclaimed super with its owner. These...
Not making your full superannuation contribution?
This year is the first year of new measures that enable people who have been out of the work force, like new Mums, to top up their superannuation. If you are not making your full superannuation contribution, now you can catch up! If you have: A total superannuation...