Super Improvements High income earners with more than one employer (eg Company Directorships) can from 1 Jan 2020 opt out of having the 2nd or 3rd employer paying compulsory superannuation where an individual will exceed the concessional cap of $25k. This avoids a member being forced to deal with excess contributions. For the first time […]
There are times in our lives when the need for gaining specialist professional advice may seem particularly critical. And for many super fund members, this is one of those times. Numerous members of SMSFs will seek advice specifically about how to deal with the tranche of superannuation reforms that has just passed into law. These […]
MLC has commissioned IPSOS to prepare a three-part independent whitepaper to explore the challenge of how to get more Australians to think about their retirement. The research, which surveyed more than 2,000 Australians, shows the cost of living, and the impact it will have on future generations. The key themes included are: A majority […]
Peter Costello’s 2006 simplified superannuation rules seem a lifetime ago. In complete contrast the 2016 Federal Budget contains complexity, retrospective rule changes and personal and company tax cuts. The Leader of the Opposition says they will support some changes however not others including the retrospective initiatives. Given the Federal election in July 2016 there will […]
With the possibility of a new superannuation tax flagged by the Federal Opposition Leader of 15% tax on income over $75,000 pa within a super fund – Q: Does it still make sense to contribute to super and/or maintain my existing superannuation assets? With the distinct possibility a new tax will be introduced on higher […]
When selecting a trustee for your Self Managed Super Fund (SMSF) there are two choices: 1) Individual trustees (typically husband and wife); or 2) A corporate trustee (eg XYZ Pty Ltd). Individual trustees are slightly more cost effective. However, a corporate trustee can provide additional flexibility and estate planning benefits. Estate Planning & Control A […]
Some positive superannuation news. The superannuation contribution limits increase from 1 July 2014. This may lead to important planning points which we will discuss with you in due course. Increase in concessional contribution caps for: Includes SGC employer, personal pre-tax and salary sacrifice contributions Under 49 The concessional contribution cap will increase to $30,000 (from […]