‘Super’ Category:

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Downsizer Super Contributions

Once your kids have flown the nest, you may find yourself wanting to downsize by selling the family home. Downsizer superannuation contributions was a measure introduced since 1 July 2018 to allow people to use the proceeds from the sale…

Superannuation Strategies before 30 June 2021

Tax deductible super contributions The concessional contribution cap for the 2020/21 financial year is $25,000 across all your superannuation accounts (if you have more than one superfund). If you contribute more than this,¬†you may need to pay extra tax.¬†Contributing into…

The 2021-22 Federal Budget: The Balancing Act

The 2021-22 Federal Budget is a balancing act between a better than anticipated deficit ($106 bn), an impending election, and the need to invest in the long term. Key initiatives include: Extension of temporary full expensing and loss-carry back providing…

COVID-19 Early Release of Super

You can access up to $10,000 of your super in the 2020-21 financial year if adversely affected by the COVID-19 pandemic. This includes if you are a member of an SMSF. The amount you receive is tax-free (it is non-assessable…