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.
Another super con: Over-50s contributions cap removed
Until June 2009, Australians aged 50 years or over were permitted to make up to $100,000 a year in concessional contributions. In 2009 the ALP government halved the concessional cap to $50,000, and then in the May 2012 Federal Budget halved it again to $25,000.
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?
Take note: Age Pension age increasing to 67 years
More than two years ago, in the May 2009 Federal Budget, the Government announced that the Age Pension age is set to increase to 67 years of age from 2023. This major change may have disappeared from the front pages of newspapers but it should be ‘top of mind’ for most Australians thinking about retirement.
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.
Age Pension: March 2012 rates now available
The new Age Pension rates, taking effect from 20 March 2012 are set out in the tables below. Note that ‘pf’ stands for ‘per fortnight’. The Age Pension rates are adjusted twice-yearly – in March and September.
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.
