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.
Super stupid! Super tax for rich will hit everyone
The Federal Government has announced that anyone earning more than $300,000 will pay 30% tax on concessional contributions paid into a super fund, doubling the super tax bill for high-income earners. The current contributions tax is a flat rate of 15%.
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.
ATO softens stance on excess contributions tax, apparently
If you read the Australian Financial Review, or you’re a member of an accounting body or superannuation industry body, then you may know about the unofficial softening of the ATO’s approach to the excess contributions tax (ECT).
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.
SMSF pension: After making super contributions, when can I convert to another pension?
Can I start the new account based pension as soon as I meet another “condition of release”, ie stop my part time employment?
2012 checklist: 10 super tips for a financially healthy retirement
Use this list as a kick-start for your 2012 super resolutions. You may not keep all of your resolutions, but if you do just a handful of the tasks listed in the checklist below, you can strengthen the chances of a financially secure retirement.
Super contributions beyond the age of 75
Q: If the SG contribution age limit is being removed completely effective July 2013, does this mean that additional concessional or non-concessional contributions can also be made by those aged over 75?
Reducing capital gains tax through super contributions
Q: I am about to sell a property which has capital gains tax implications. Is it possible to reduce capital gains tax by transferring some of proceeds of the sale into my super. I will be turning 60 in September. We’ve [...]
