Super Changes

Business Development Specialist - Ceebeks Business Solutions for GOOD

With a new financial year there come a raft of changes, particularly in the superannuation space. On 1 July 2021, the super guarantee rate rose from 9.5% to 10%. The ATO understands some pay periods will cross over between June and July when the rate changes. The percentage employers are required to apply is determined based…

What are downsizer contributions?

Business Development Specialist - Ceebeks Business Solutions for GOOD

Downsizer contributions are superannuation contributions which have been sourced from the sale proceeds of the current or former principal place of residence of a taxpayer (or their spouse).  The Government is currently amending the tax and superannuation legislation to permit such contributions to be made. The policy justification for such contributions is to remove a…

The Superannuation Guarantee Amnesty

Business Development Specialist - Ceebeks Business Solutions for GOOD

On 18th September 2019 the Assistant Treasurer and Minister for Housing, the Honourable Michael Sukkar MP announced the proposed Superannuation Guarantee (SG) Amnesty and re-introduced the associated legislation into Parliament. If you are behind in keeping up to date with your SG commitments to your employees there may be a short reprieve on the penalties.…

Make the most of your retirement income

Business Development Specialist - Ceebeks Business Solutions for GOOD

Adjusting to a reduced income in retirement can be challenging. But luckily there are a wide range of support options available, plus all sorts of discounts and benefits, to give Australian retirees a financial helping hand. Entering retirement means freedom from the pressures of work, but it can also mean getting used to a tighter…

SMSF Myths Busted!

Business Development Specialist - Ceebeks Business Solutions for GOOD

Is a Self-Managed Super Fund (SMSF) right for you? Already have a SMSF but want to make it work harder for you? Over 1,100,000 Australians run their own SMSF. But the news media is in a frenzy at the moment about SMSF’s and property investments. We understand that SMSF’s don’t suit everyone, so it’s important…

What is a Self-Managed Superannuation Fund?

Business Development Specialist - Ceebeks Business Solutions for GOOD

A self managed super fund (SMSF) is a type of superannuation scheme that is set up to provide retirement income for the members of that fund who either manage the fund or with assistance from an external services provider. An SMSF is a trust where the beneficiaries are also the members. An SMSF must pass the ‘sole…

Your Super Insurance Cover Could be Changing

Marketing Manager - Sinclair Wilson

QUESTION – Do you have insurance via your Superannuation fund? Do you ignore the letters you get from your superannuation provider (…it’s okay, you’re not the only one). Yet, if the answer to either of these questions was ‘yes’, it’s important you know that things are about to change regarding the insurance your super fund…

Is Your Insurance Cover at Risk of Ceasing?

Business Development Specialist - Ceebeks Business Solutions for GOOD

Changes to superannuation law that will take effect from 1 July 2019 may result in a loss of insurance cover for those people who hold superannuation fund accounts that have been inactive for the past 16 months. How to keep your insurance You can opt-in to keep your insurance by formally notifying your superannuation fund…

Explaining the post-election super situation

Marketing Manager - Sinclair Wilson

The Coalition Government has been re-elected in the 2019 Federal Election, with a small majority of seats in the House of Representatives, after taking a policy of stability for Superannuation to the election. After the introduction of the significant legislative changes which came into effect on 1 July 2017, this means there’s a good chance that, for…

TOP-UP YOUR SUPER WITH HELP FROM THE GOVERNMENT

If your income is under a certain threshold, then making personal after-tax super contributions could enable you to qualify for a Government co-contribution and take advantage of the low tax rate payable in super on investment earnings. HOW DOES THE STRATEGY WORK? If you earn less than $51,813 pa (of which at least 10% is…