‘Super’ Category:

Why you should review your super Your super is one of the biggest assets you’ll accumulate in your lifetime. However, many Australians think they don’t need to worry about their super until retirement. Some don’t think about it at all.…

Government Covid-19 relief measures gave a temporary reduction to the minimum amount required to be withdrawn from superannuation income streams.  This relief has now stopped so you need to be aware of the change to the minimum pension payment drawdown…

From 1 July 2023, the super guarantee rate for eligible employees rises to 11% (previously 10.5%). Super guarantee is calculated on Ordinary Times Earnings and is payable for all eligible employees regardless of how much they earn (prior $450/month cap…

The Superannuation Guarantee (SG) rate will increase from 10.5% to 11% on 1 July 2023. Employers, please ensure your software will calculate this change, or, if calculating manually, be aware of the increase. The new SG rate applies to payments…

As the end of the financial year comes racing at us and you are considering contributing additional amounts to superannuation – either to claim as a tax deduction or to boost your superannuation savings – it is important to note…

The Government has announced that the concessional tax rate on earnings from superannuation will increase from 15% to 30% for those with total super balances (TSB) of $3m or more from 1 July 2025. This will be after the next…

To avoid additional costs, including the superannuation guarantee charge (SGC), employers must pay the correct amount of superannuation for all eligible employees by the quarterly due date. Whether you’re paying superannuation weekly, monthly, or quarterly, it’s important to check the…

Spouse Contributions Under the current 2021/22 tax rules, you may be able to claim an 18% tax offset on super contributions up to $3,000 that you make on behalf of your non-working or low-income-earning partner. You can contribute more than…

If you contribute some of your after-tax income or savings into super, you may be eligible to claim a tax deduction. This means you’ll reduce your taxable income for this financial year – and potentially pay less tax. And at…

Most employers are aware of the due dates for quarterly superannuation payments. But did you know that your employee's superannuation contribution is considered 'paid' on the date it's received by the super fund - Not the date it's received by…