Super contributions beyond age 65 from 1 July 2020

Super contributions beyond age 65 from 1 July 2020

The Assistant Minister for Superannuation Senator Jane Hume has welcomed the recent amendments to Australia’s superannuation regulations that allow more people to make voluntary superannuation contributions from 1 July 2020. The changes allow people aged 65 and 66 (ie...
ATO opens applications for early release of super

ATO opens applications for early release of super

The ATO has released its application form for the early release of superannuation by individuals impacted by COVID-19. From 20 April, an individual can make one application to access up to $10,000 of their super (tax-free) in the 2019–2020 financial year, and a second...
Super guarantee loophole closed

Super guarantee loophole closed

A superannuation guarantee loophole that allowed employers to use salary sacrificed contributions to make up part of their required super guarantee contributions has been closed. From 1 January 2020, employers must make the full amount of mandatory super guarantee...
Super contributions beyond age 65 from 1 July 2020

No-cost strategies to increase your super

With all the pandemonium of the new year, your super is probably the last thing on your mind. However, this is precisely the right time to think about implementing some strategies to increase your super for the coming year. With some simple, no-cost strategies such as...
A “watch out” and a “how to” for the Year End!

A “watch out” and a “how to” for the Year End!

WATCH OUT – Director Penalties for Unpaid Super – CHANGES TO THE LAW Company Directors can be held personally liable for a company’s unpaid employee superannuation. The unpaid superannuation is (after three months) payable to the ATO as a Superannuation Guarantee...