Posts

Should you start a SMSF?

For many people, the idea of managing and investing your own retirement savings is very appealing. But there is debate over whether running your own self-managed super fund (SMSF) is cost effective. So, what are the arguments for and against…

The 1 July 2021 superannuation changes

Changes from 1 July 2021 will impact on how much money you can contribute to superannuation and how much you can have in your retirement phase superannuation account. In general, your superannuation is either in an accumulation account…

2020 year in review

Just as we were recovering from the long drought and the worst bushfires on record, the global coronavirus pandemic took hold and changed everything. Suddenly, simple things we took for granted, like going to the office or celebrating…

Tax-effective ways to boost your super

After a year when the average superannuation balance fell slightly or, at best, moved sideways, the summer holidays could be a good opportunity to think about ways to rebuild your savings while being mindful of tax. With the Reserve Bank…
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What happens if you don’t pay your super on time?

In the past, monitoring of superannuation payments was not as stringent as it is now. If employees did not regularly read their super statements or check their balances, it is entirely possible that super could go unpaid - and unnoticed by the…
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EOFY checklist

It always takes some planning to get your finances in order for the end of financial year, and this year may look a little different, come June 30. The COVID-19 pandemic may have impacted your circumstances and therefore your situation could…
Self Managed Super Fund rules
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5 key SMSF rules

The lure of greater control over your retirement savings with a self-managed super fund may be enticing but the freedom to chart your own destiny also comes with the responsibility to comply with the rules. An SMSF is a private super…
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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…
ATO calling SMSF trustees

SMSF trustees being contacted by ATO

The investment strategies of Self Managed Superannuation Funds (SMSFs) are under scrutiny with the Australian Taxation Office (ATO) contacting 17,700 trustees about a lack of asset diversity. The ATO is concerned that, “a lack of diversification…
1 July changes from the ATO
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1st July changes: what you need to know

As of 1st July 2019 there were some changes that came into affect. This includes: Insurance inside Superannuation funds We let you know the tax tip-offs from the ATO Laundry expenses are going to be reviewed Who owns the assets…
Salary sacrificing Australian tax

Could you benefit from salary sacrificing?

Keen for a new laptop, car, or even an airport lounge membership? Sick of putting your hand in your pocket for school fees, the rent or your mortgage? All of these things could be paid for through a salary sacrifice arrangement. With…

Using your super fund to save for your first home

For most first home buyers, the property market can seem like a tough nut to crack. But today we’ll look at a new super scheme that makes it a whole lot easier to save for a deposit. Heard of the First Home Super Saver (FHSS) scheme? No?…
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Improve your finances one month at a time with this 2018 to-do list

It’s easy to get overwhelmed with a long list of tasks, so we’ve simplified things for you. Just tackle one job on this list each month and you’ll make a huge difference to your finances in 2018. January: Create a monthly family budget…