By: George Cochrane Regarding your response to a reader a few weeks ago, K.E. on January 28, about investing $20,000 into superannuation accounts for each of his children. I have two questions relating to that proposal: 1. I was surprised that the writer’s children, aged three and five, could have super accounts opened for them. I […]
By Olivia Maragna It’s already the start of March and the end of financial year is only a few months away. Before you know it, tax time will roll around again, and if you’re not ready you could miss out on big superannuation savings and incentives. As of July 1, 2017, the ATO introduced a raft […]
By Rod Myer Self-managed superannuation funds are increasingly being used as slush funds to manage the assets of wealthy people rather than for building independent retirements, according to experts. New figures from the Australian Taxation Office show that personal contributions by members of SMSFs are increasingly dominating and are at much higher levels than personal contributions […]
By Anthony Keane CHANGES to superannuation funds’ fee disclosure are making nest eggs more transparent, a timely prompt for the owners of Australia’s 29 million super fund accounts to check what they are paying. New fund fee rules came into force last month and the Australian Securities and Investments Commission has just announced a fresh […]
By Rod Myer With the end of the financial year approaching fast, there are some important things you need to do to ensure you get the best out of your superannuation by June 30. The super system has recently undergone some of the biggest changes in a decade, with many to come into effect in the […]
By Benfletcher At some point in the life of your business, it will benefit you to move from being a sole trader to a company setup. Ben Fletcher explains what to consider before making the move. In my experience there are three main reasons a sole trader would move to a company structure for their […]
The ATO has issued an update on the progress of the government’s superannuation tax reform package. The update, which deals with transition to retirement income streams (TRIS), total balance caps and limited recourse borrowing arrangements (LRBAs) among other things, includes some ‘minor’ amendments to super reforms that may not be so minor at all. […]
Further rumoured amendments to the superannuation reforms taking effect on July 1, 2017, just over two months away, are seeding further panic among the superannuation industry. The document circulated by the ATO lists seven areas where further amendments, termed “minor and technical”, are being sought. It is proposed that the government intends to enact […]
By Anthony Keane WOMEN are more pessimistic than men about retirement and more than three out of five say they will battle financially after finishing work. A study by retirement planning firm StatePlus has found that 64 per cent of women say they will struggle to achieve a comfortable retirement lifestyle, with Australia’s wage disparity also […]
By Anthony Keane IT sounds like a tempting idea — let young Australians withdraw their superannuation early to use the money as a house deposit. They get into their own home earlier than they otherwise would, still have many decades to save up their super for retirement, and Australia’s housing affordability problems maybe ease a little, […]
