Finn McHugh Aussies could be forced to choose between superannuation and take-home pay under a proposal being considered by the federal government. The government will mull making an increase in superannuation optional, giving workers the choice to receive a pay rise instead, in a bid to resolve internal division over the issue. The move would […]
By Olivia Maragna Tax time is a stressful period for many Australians. Even seemingly simple tax returns can escalate into a madcap scramble through personal records to make sure everything is in order. Is this really any surprise, given that the complete Income Tax Assessment Act 1997 comes in at over 5000 pages? But even without […]
By Anthony Keane IT’S June later this week, which means tax time is just a month away, so people who don’t start planning their deductions now risk missing out on a handy refund. TAX time is just over a month away, and whether you’re a worker or an investor, it gets real now. Leaving tax planning […]
By Jackson Stiles Lost, unpaid and eroded superannuation will be reunited with workers under a massive superannuation package announced in the federal budget – which will also try to kick our addiction to lump sum payouts in retirement. Fewer bosses will get away with stealing retirement payments from their workers and less super will be eaten […]
By Paul Benson Whether you’re planning for a traditional retirement in your 60s or older, or working towards an early retirement goal, thoughts of “will my money run out?” will no doubt have crossed your mind. Often people’s instinct is to search for the best return possible each year. But actually a far more important objective […]
By Gabriela Rusu Most superannuation strategies revolve around the effective use of contributions to gradually build the amount of super savings needed to live comfortably in retirement. Super contribution limits and tax concessions changed on 1 July 2017, placing significant restrictions on the ability to make additional contributions to super. Concessional (before-tax) contributions Concessional contributions include […]
By Rod Myer Life insurance in superannuation can cost the average person hundreds or even thousands of dollars a year, and its costs can reduce overall retirement balances by tens of thousands of dollars. Whether you realise it or not, you are probably paying for a life insurance policy through your superannuation fund. Which means […]
By Rod Myer Superannuation fund members are increasingly making active investment choices and are less likely to leave their money in default or balanced options than 10 years ago, according to new research from SuperRatings. In 2008, 73.7 per cent of members in accumulation mode had their money in the balanced option, but by the end of 2017 […]
By Rod Myer Independent contractors earning $90,000 or more who do not make superannuation contributions should be hit with a levy to help fund the age pension, says a new report from the John Curtin Research Centre commissioned by Vision Super. The report, authored by Curtin executive director Nick Dyrenfurth, made a series of recommendations in response to the rise of the […]
By John Collett Consumers need to have online access to tables showing how their super fund returns compare to others and it needs to be free. One of the biggest factors that people have over control in achieving a comfortable retirement is selecting a good-performing super fund. There’s a huge difference in returns between the best […]
