Individuals earning more than $250,000 may be subject to Div 293 tax on their concessional super contributions, this is an additional 15% tax.
Read More
When it comes to retirement, many of us may receive retirement income from various sources. For example, investments (inside and outside super) and social security entitlements, such as the Age Pension.
Read More
From 1 July 2021, a whole raft of superannuation changes as a part of the government’s more flexible superannuation changes has come into effect.
Read More
From 1 January 2022, most employers will be required to send additional information such as commencement date of employment
Read More
A new financial year can be an opportune time to make sure you are on track to achieve your financial goals and objectives.
Read More
Depending on the length of the lockdown, businesses may be eligible to receive a co-funded small and medium business support payment, as well as various cash grants.
Read More
It’s tax time again and if your business is experiencing financial difficulties due to the latest lockdowns, the ATO may be able to help by processing your tax return faster.
Read More
With the advent of a new financial year, there is an important change from 1 July 2021 that employers should be aware of. The rate of super guarantee you’re required to pay your employees has increased from 9.5% to 10%. This is the minimum percentage now required by law but you may pay super at a higher rate under an award or agreement.
Read More
The Australian share market finished the fiscal year with its best performance since inception, with the market gaining 23.9% over the past 12 months. For June, Australia’s S&P/ASX 200 Index rose 2.3%. The recent value rotation showed some signs of weakening, with the S&P/ASX 200 Value Index returning 1.6% for the month, versus a return of 3% for the S&P/ASX 200 Growth Index. The best performing sectors for the month were information technology (+13.4%), followed by communications services (+5.6%) and property (+5.3%). Financials was the only sector to finish in the red for the month (-0.2%).
Read More