Workers owed $3.6 billion in super guarantee
Workers are owed over $3.6 billion in superannuation guarantee according to the latest Australian Taxation Office (ATO) estimate.
Why paying superannuation for employees should always be an employer’s top priority
The ATO is now using Single Touch Payroll (STP) to cross-check if employers are paying Superannuation Guarantee on time.
Federal Budget Recap 2023-24
We've summarised the key tax, business and super items from the 2023-24 Federal Budget - in a quick snapshot, as well as a more comprehensive breakdown.
Super Balance Increase from 1 July 2023
The general transfer balance cap (TBC), money held in tax-free retirement account, will increase by $200,000 on 1 July 2023 to $1.9 million.
New 30% tax rate on $3 million superannuation balances
From 2025‑26, the 15% concessional tax rate applied to future earnings for superannuation balances above $3 million will increase to 30%.
‘Downsizer’ contribution – what are they?
From 1 January 2023, those 55 and over can make a ‘downsizer’ contribution to their superannuation.
Crypto and Self Managed Super Funds
The value of cryptocurrency assets inside Australian self managed superannuation funds (SMSFs) increased by 589.9% ($1.17bn) between June 2019 and June 2022, according to the latest ATO statistics. While cryptocurrency…
Acquiring collectibles inside your SMSF
Clients with self managed superannuation funds (SMSF) often ask what collectibles their SMSF can acquire, but first, we have to ask why.
What is changing on 1 July 2022?
A series of changes and reforms for business and your superannuation will commence on 1 July 2022. Here's what is changing!
Employee Super Fund Changes in November 2021
From 1 November 2021, where an employee does not identify a super fund, the employer is required to request details of the employee’s existing superannuation fund or ‘stapled’ fund from the ATO.