Some of the most significant changes last year were felt the most by those with high balances in their funds, and employees who salary sacrifice into super. The ‘transfer balance cap’ was introduced from 1 July 2017 limiting the amount that could be transferred to a retirement phase income stream to $1.6 million. Amounts over…
By avoiding to fall for any common traps or tricks, personal tax deductions on personal super contributions may be easier to claim due to changing rules in superannuation. Anyone who makes personal superannuation contributions made on or after 1 July 2017 no longer has to follow 10% earnings rule which requires you to earn less…
The federal government has announced the early release of superannuation on compassionate grounds will be transferred to the ATO from 1 July. Revenue and Financial Services Minister Kelly O’Dwyer said responsibility for the administration of the early release of super benefits on compassionate grounds will be transferred from the Department of Human Services to the…
Smart Super Strategies for this EOFY With the end of financial year fast approaching its time to review your financial plans and strategies in place! This is particularly important for this financial year due to several changes that have applied for the first time in 2017-18, and some others that are starting on 1 July…
Life Insurance Myths Busted People may overlook insurance covers and how helpful they can be. We look at the common reasons why people don’t take out insurance and shed light on why you may need to consider it. It is important to remember for every reason to not take out insurance, there is often an…