Financial advice: Only 78 independent financial advisers in Australia

Note: This article is updated regularly when new financial advisers join the independence club (latest update May 2016). A financial adviser does not have to be a member of the IFAAA to join the SuperGuide list, provided they can declare that they satisfy the requirements of being an independent … [Read more...]

Super funds gain 3% for 2015/2016 financial year

The median superannuation growth fund gained 3% in value for the 12 months to 30 June 2016, although the median fund lost 1% for the month of June, according to superannuation ratings agency, Chant West.The 1% median loss in June 2016, follows the 2.3% gain in May 2016, the 1.4% gain in April … [Read more...]

Superannuation changes: What rules apply for the 2016/2017 year?

Although the newly elected Coalition government has announced significant amendments to Australia’s superannuation rules, many of the big-ticket super policies are not changing, and many of the proposed changes will not apply for the 2016/2017 year.Apart from the $500,000 lifetime after-tax … [Read more...]

Cashing in on the co-contribution rules (2016/2017 year)

Note: This article explains the co-contribution rules for the 2016/2017 year (and later in the article, also for the 2015/2016, 2014/2015, 2013/2014, 2012/2013 and 2011/2012 years).The federal government is giving away money to anyone who makes a non-concessional (after-tax) contribution to … [Read more...]

Super concessional (before-tax) contributions: 2016/2017 survival guide

Note: The concessional contributions caps for the 2016/2017 financial year are not affected by the 2016 Federal Budget announcement to reduce the size of the annual concessional cap from 1 July 2017. For information about the proposed, lower concessional cap of $25,000 for all age groups, effective … [Read more...]

Your 2016/2017 guide to non-concessional (after-tax) contributions

SUPER ALERT! On 3 May 2016, the federal government announced an IMMEDIATE cut to the non-concessional contributions cap, including a cessation of the bring-forward rule (explained later in the article). Although this change has immediate effect, from 3 May 2016 (7.30pm), it is still subject to … [Read more...]

Seeking financial advice? A 5-step guide to obtaining expert help

Now that the outcome of the 2016 Federal election is finalised, with the Coalition winning government, the super system is set to face even more change. Unfortunately, more complexity usually accompanies any proposed superannuation reforms, driving many Australians to seek out financial … [Read more...]

SMSF advice: Is your accountant still allowed to help your fund?

Being the trustee of a self-managed super fund can be a challenging task at times, and most people need a bit of help at certain stages when running a SMSF, particularly when a decision, or strategy, requires financial advice. Traditionally, many Australians have turned to their accountant for … [Read more...]

Age Pension: More Australians entitled to payments since July 2016

In March, July and September of each year, the federal government changes the rules for claiming the Age Pension… for the better! Currently, the Age Pension income test and the Age Pension assets test are adjusted three times a year in line with increases in the Consumer Price Index.Effective … [Read more...]

Age Pension income test: Deeming rates and deeming thresholds

Note: This article explains the latest deeming rates and the deeming thresholds for the Age Pension income test. If you are seeking information about the latest increases in the thresholds for the Age Pension income test and Age Pension assets test see SuperGuide article Age Pension: More … [Read more...]