The Budget proposes positive changes to superannuation, an extension of the low and middle-income tax offsets and a boost to aged care services. We summarise some of the key points from the Budget but, remember, these are subject to the passing of legislation.
When building an appropriate super nest egg, it’s important to understand the factors that can have an impact on your super balance come retirement. One of these factors is super contributions.
As a parent you probably have great expectations for your child. They will have everything you had and more! You will consider their every need and make the most of every opportunity to help them get ahead, right?
In a planning process that establishes independent, financial security for the exiting generation as the priority, taking advantage of the significant taxation concessions associated with participating in this investment environment cannot be overlooked.
Online services for business has been co-designed with business and makes it easier for you to interact with the ATO online to manage your tax and super obligations.
If you want to get ahead, financially, it’s necessary to take some steps to get there. It may seem daunting and overwhelming but like anything, if you have a professional guiding you along the way, small steps can lead to something great.
Super re-contribution is a process where, upon you meeting a condition of release, you withdraw money from super fund and then re-contribute the funds back into your super fund as a personal non-concessional contribution. This process is used to increase the tax free portion of your super fund benefit.
Did you know there are over 10 million Australians with a superannuation account, approximately 36% of which hold more than one, which make up $20.8 billion in ‘lost super’. Is some of that yours?
