Update of Superannuation contribution rules from July 1, 2020.
The rules around Superannuation contribution change almost every year, so it is important that taxpayers know what these changes mean to them.
When a will won’t cut it: Inheritance and super
People are accumulating a lot of wealth within their super without realising a legally binding will won’t direct where that money goes after their death, a chartered accountant has warned. Simone Palfreyman,…
More than $31bn paid under early super release
The government’s early super release scheme shows no signs of slowing down, with almost 90,000 release applications received by super funds in the first week of August and more than $700 million in payments made.
Your super fund, your choice
Choice is inherently regarded as a good thing, particularly in these COVID-affected times when some of our basic choices have had to be suspended for the greater community good.
SMSFs urged to act on compliance issues ahead of tougher penalties
SMSFs with outstanding compliance issues should consider making a voluntary disclosure while the ATO still has a more flexible approach in place and before they implement tougher admin penalties, says a law firm.
Inserting super into a will: Can you do it?
Estate plans are vital for anyone looking to pass on their wealth to a loved one or charity, especially in circumstances where family relationships are a little more complicated. In…
Early access to super: Could I lose my life insurance?
A federal minister has shot down claims that the government will force the cancellation of life insurance policies for Australians relying on the early access to super scheme. Addressing the Financial…
Changes to super contribution rules for over 65s
The Federal Government has updated superannuation laws to allow older Australians to contribute to their super for longer. Work test to apply from age 67 The government has increased the…
COVID-19: How long may your super savings take to recover?
As investment market volatility continues, what does this mean for Australians’ retirement savings? The COVID-19 (coronavirus) crisis has caused uncertainty in many areas of life, not least on investment markets….
