Government proposals around improving housing affordability in Australia were passed through parliament on 7 December 20171. See what the new rules could mean for you. As part of the changes: first home buyers will be given a tax concession through the ability to save for a...
By contributing into your super, you can reduce the amount of tax you pay while adding to your future retirement income. What is salary sacrifice? Put simply, salary sacrifice is where you pay a portion of your pre-tax salary or wages as an additional contribution to your...
A number of changes came into effect on 1 July 2017 that limit the amount of money those saving for retirement can put into super. This includes new limits on concessional (or before tax) and non-concessional (or after tax) contributions. The limit on concessional contributions has...
Contributions can play an essential role in a self-managed superannuation fund (SMSF). Your SMSF contributions can be made in two ways – either by cash or an asset (known in the trade as ‘in specie’ contribution). Typically, your SMSF can accept: employer contributions personal contributions salary...
There’s a new set of superannuation rules for higher income Australians. These recent legislative changes affect salary sacrificing, taxation and estate planning. If you’re salary sacrificing, be aware the concessional (pre-tax) limit has been cut to $25,000 per year. You may need to reduce your...
The changes are wide-ranging and are likely to affect everyone’s retirement savings. But it can pay to plan ahead both to take advantage of the existing rules, and to make the most of the new super landscape. Here are some of the major changes and how...
