Posted in Financial Planning

#EveryoneNeedsaPlan: Super Paid on Parental Leave

Posted by Dean McKinnon on 26 August 2024
The federal 2024 budget confirmed superannuation will be paid on government-funded Paid Parental Leave (PPL) payments: The contribution will be 12% of the payment The contribution will be paid on payments after 1 July 2025 From 1 July 2026, the maximum PPL will be 130 days (26 weeks) Recipients must satisfy eligibility criteria If you need help with understanding the PPL, please don't hesitate to get in touch with us and arrange your free initial consultation ...
Posted in:SuperannuationFinancial PlanningSocial Security   0 Comments

#EveryoneNeedsaPlan: FHOG Increased to $30,000

Posted by Dean McKinnon on 19 August 2024
#EveryoneNeedsaPlan: FHOG Increased to $30,000

The recent Queensland State Government budget included an increase to the First Home Owner Grant (FHOG)

  • The Grant has increased from $15,000 to $30,000
  • Applies to eligible contracts entered into between 20 November 2023 and 30 June 2025
  • Contact Us if you need help to apply for the Grant and or arrange your Home Loan
Posted in:PropertyMortgages and FinanceFinancial Planning   0 Comments

#EveryoneNeedsaPlan: Increased Cost for Comfortable Retirement

Posted by Dean McKinnon on 14 June 2024
A “comfortable retirement” has a different meaning depending on your lifestyle but as a guide the Association of Superannuation Funds of Australia (“ASFA”) provides some benchmarks which may be helpful. Each Financial Year Quarter ASFA produce a report including expenses likely to be incurred in retirement The March 2024 Quarter costs for a “comfortable retirement” increased 0.70% to $72,663 for couples and $51,630 for singles The ASFA website has some...
Posted in:RetirementFinancial Planning   0 Comments

#EveryoneNeedsaPlan: Superannuation Contribution Caps Increased as of July 2024

Posted by Dean McKinnon on 28 March 2024
Superannuation concessional and non-concessional contribution limits will be increased from 1 July, 2024 (i.e., the 2025 FY) Superannuation investments generally incur a lower rate of tax when compared to non-superannuation investments Accumulating savings in superannuation is a tax-effective strategy for retirement planning Contributions to superannuation are limited and exceeding the limits will have tax consequences Concessional Contributions (CC) to superannuation may be claime...
Posted in:TaxSuperannuationFinancial Planning   0 Comments

#EveryoneNeedsAPlan: Employer Super Contributions to be Paid on Same Day as Pay Received

Posted by G. Dean McKinnon on 24 November 2023
The Federal Government announced in May, 2023, a proposal for employers to be required to pay their employee super contributions on the day the employee is paid: The present requirement is for the employer to pay their employee super contributions each financial year quarter (September | December | March | June) The proposal is currently with Treasury department for consultation, but if adopted the new requirements would commence from 1 July, 2026 Business cashflow will be key to me...
Posted in:Business PlanningSuperannuationFinancial PlanningBookkeeping   0 Comments
< Previous | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | Next >
McKinnon Financial Planning Pty Ltd ABN 74 155 233 784 Australian Financial Services Licence 417488 | McKinnon Financial Services Pty Ltd ABN 82 056 817 648 Australian Credit Licence 392173 | General Advice Warning: Information contained in the pages of this website is of a general nature only and has not taken into account your particular circumstances. You should consider whether any strategies and or investments mentioned in this website are suitable for you and seek personal advice from a licenced investment adviser before making any investment decision.
HomeContact UsPrintTell a FriendBookmark a SiteLinked InTwitterFacebook