Posted in Superannuation

From 1 July, 2022 employers will need to pay super for employees who earn less then $450 per month, which was not previously payable.

Employers need to contribute to the employee's super 10% of the employees gross income each financial year quarter.  The whole process can be complicated, so if you are unsure as to your obligations, the ATO has provided some guidance and an Employer Obligation Checklist.

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There are several ways in which to access your super legally but if you access your super illegally there are significant penalties that apply.

Super investments are intended to assist with funding your retirement income needs.  However, depending on the circumstances, you may be able to access your super before you retire – such as permanent disability or severe financial hardship.

It is unusual to be able to gain early access to your super if you are not retired, permanently di...

It is increasingly difficult to save enough money for your first home purchase but there are some ways the government can help, such as First Home Super Saver ('FHSS') scheme.

The FHSS scheme allows you to save for your deposit within your superannuation investment account.  There are several key benefits to using your super as the saving structure but the ability to withdraw personal Concessional Contributions may provide a significant tax planning advantage.

Personal Concessi...

ASIC recently published a warning about including crytocurrency ('crypto') investments in Self-Managed Super Funds (SMSF).

Unlike traditional investments crypto investments are difficult to research and rate unlike commonly traded investments such as cash, property, shares.  As a result, the investor is placing their investments at high risk of the return and capital invested.  Further, crypto investments are generally not traded on traditional market platforms such as stoc...

If you are aged 65 to 67 you may be able to contribute an additional $200,000 to your super from 1 July 2020. The federal government is currently in the process of making changes to super contribution laws and from 1 July 2020 the "Work Test" requirements for super contributions are likely to be amended. Effectively this will mean from 1 July 2020 if you are aged between 65 and 66 you will be able to make voluntary contributions to your super (concessional and non-concessional...