Federal Budget May 2012: At a super glance
On 8 May 2012, Federal Treasurer Mr Wayne Swan released the 2012/2013 Federal Budget promising to deliver a $1.5 billion surplus.
Remember earlier Swan attack – freeze contributions caps and halve co-contributions
In this article, we explain the super changes the government snuck through in November 2011 although Federal Treasurer, Wayne Swan, may be hoping that we forget his earlier tinkering with the super rules.
Setting a retirement target: Living on more than $55,000
The most popular question about superannuation and retirement planning is, without doubt: How much money is enough?
A comfortable retirement: How much super is enough?
So, the big question is: how much money do you really need for your retirement? Lifestyle is a very personal thing —luxury living for one person is a modest existence for someone else.
Do you fit the profile of a ‘typical’ SMSF trustee?
The latest ATO statistics on SMSFs highlight some interesting observations that can be made about the current batch of SMSF trustees, including average SMSF balance, the ages of SMSF trustees, state of origin, gender balance and income levels.
Superannuation Guarantee: 10 facts about your SG entitlements
If you work as an employee, and you satisfy certain minimum requirements, your employer must pay Superannuation Guarantee (SG) contributions on your behalf, to a super fund.
Superannuation Guarantee set to jump 33%
The good news is that the proposed gradual increase in SG entitlements, to 9.25% from July 2013, and to 12% from July 2019, has advanced through federal parliament.
Comparing super funds: Who’s who in the super zoo
Unless you work in the superannuation industry, how the world of super works can be bamboozling (sometimes it can be confusing even when you know the industry well). This article, on the different types of super funds, is the first in a series of articles explaining the main players in the Australian super world.
THE SOAPBOX: The most ridiculous super policy… ever!
Every week, I receive emails from readers sharing horrendous stories about how their retirement savings have been mauled by the evil and demented excess contributions tax regime. I share one shocking account from a SuperGuide reader later in this article.
Excess contributions tax: What happens if I receive an ECT assessment?
I would like to say ‘don’t panic’ but under the current rules, if you receive an excess contributions tax (ECT) assessment, then the prospect of paying penalty tax (although the ATO says it’s not a penalty tax) is inevitable unless you’re eligible for one of 4 escapes.
Another horror story: How to pay 93% tax on your super contributions
Excess contributions tax is not just a problem for high-income earners, as the politicians may want the population to believe. The contribution caps are now so low relative to average salaries and SG contributions, that ECT has become a possibility for all Australians.
