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Liability limited by a scheme approved under Professional Standards Legislation.

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Hot Issues
Tax Time Checklists - Individuals; Company; Trust; Partnership; and Super Funds
Year-end tax planning
Home Office & end of 2021 tax year
ATO extends STP finalisation due date
Super transfer balance cap increase from 1 July 2021
ATO extends Division 7A COVID-19 relief
Tax implications - more than one job
Tax mix to rely more heavily on income tax as the Treasurer ducks austerity
10% Super Guarantee from 1st July 2021
End of year financial strategies
Closely held payees: STP options for small employers
Videos to help understand accounting topics.
ATO Small Business Newsroom - May / June
New insolvency rules commence
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Post Federal budget reflections
Federal Budget 2021 - Overview
Building a more secure and resilient Australia
Federal Budget 2021 - Health
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Businesses feeling ‘adverse’ impacts of COVID-safe measures: ABS
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Contributing to Superannuation

 

Superannuation remains the best available form of an individual retirement savings plan, in spite of continuing government changes.

 



       

Superannuation retains its favored position mainly due to tax concessions allowed by the government as an encouragement to fund your own retirement.

 

Unfortunately, compulsory super has lulled many people into a false sense of security.  They feel that their compulsory super will adequately cover their retirement needs.  The trouble is that compulsory super has not arrived soon enough to fully help most people.  For those who are say aged 30 or over, additional retirement savings will, in many cases, be required.

 

The self-employed who are not taking a wage have to fully provide their own super.

 

If you are intending to make a super contribution, some of the many questions arise:

 

• Am I contributing an adequate amount to fund my retirement?

• Are salary sacrifice contributions to super a good idea for me?

• Should I have my own self-administered super fund?

 

Answering this sort of question is very important, no matter your age.  The sooner you start the better but, in almost every case, asking for some professional assistance does help.  

 

 

 

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18th-March-2021
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