Posts Tagged ‘superannuation’
Legislation changes to super – benefits individuals aged 60+ and First Home Buyers
Proposals from the 2021 Federal Budget in relation to superannuation have now passed legislation and will come into effect on 1 July 2022. Benefits include savings opportunities and tax reduction measures especially for people aged 60+ and first home buyers. Benefits to people aged 60+: Individuals aged between 67 and 75 will no longer be…
Read MoreHow your age will influence the contents of your Financial Plan
While we firmly believe that there is no age cap on wealth, life stages inevitably impact a person’s financial position. There is a series of common financial milestones through an average lifespan, including positive wealth building opportunities, as well as some of the more unpleasant and expensive realities of life. We’ve mapped them out, and…
Read MoreSuperannuation: changes and politics
With a Federal Election due to take place around March of this year, we can expect that superannuation will be a stormy topic between the two major parties. There are some important changes scheduled this year. Here’s what it means for you… Superannuation Guarantee The superannuation guarantee is legislated to increase to 10.5% from 1…
Read MoreNew process from Nov 1 for employers paying super
Employers will need to comply with the Federal government’s superannuation reforms that will come into effect on 1 November. When employing a new person, employers must supply the usual Super standard choice form where the new employee can nominate an existing fund for superannuation to be paid into. The Federal Government has introduced an additional…
Read MoreLegislated review of super fund performance: best and worst funds revealed
Earlier this year, the Australian Prudential Regulation Authority (APRA) launched its annual test of superannuation fund performance. 13 funds that hold $56 billion have been put on notice, and members can expect a letter in the mail. The review is part of the Federal Government’s superannuation legislation reform to protect Australians from underperforming funds and…
Read MoreBracing yourself for survival in the super wars
Super: there are more questions than answers. Will the Government scrap the legislated rise in superannuation from 9.5% to 12%? How much is enough? Are you in the right fund? Can you afford the increasing Life Insurance premiums from within your fund? It’s enough to want to adopt a mattress-stuffing savings strategy so that you…
Read MoreWill the compulsory increase to super go ahead?
At this stage, yes. But an announcement of a different kind would not be a surprise to the business community given recent economic pressures. The government has indicated that its priority is to create jobs and protect businesses. Superannuation contributions from employers are currently legislated to increase in small increments up to 12% in 2025.…
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