From July 2013, eligible employees who are 70 years or older will receive Superannuation Guarantee (SG) payments from employers. The current SG rules stop SG entitlements when an employee turns 70 years of age. SuperGuide is proud to take credit for the positive influence that our regular … [Read more...]
Note: This article explains the Superannuation Guarantee rate. If you’re seeking information on other superannuation rates and thresholds see SuperGuide article Super rates and thresholds for the 2012/2013 year. In the 2013 Federal Budget papers, the planned increase in Superannuation … [Read more...]
If you earn less than $37,000 a year, and your employer makes concessional (before-tax) superannuation contributions on your behalf, then you can expect a refund of the contributions tax deducted from your super account, paid directly to your superannuation account by the Federal Government. The … [Read more...]
UPDATE: In the May 2012 Federal Budget, Treasurer Wayne Swan, and Minister of Superannuation, Bill Shorten, have broken their promise about extending the over-50s concessional contributions cap. The over-50s concessional cap has been halved to $25,000 for the 2012/2013 and 2013/2014 years. For more … [Read more...]
UPDATE: In the May 2012 Federal Budget, Treasurer Wayne Swan, and Minister of Superannuation, Bill Shorten, have broken their promise about extending the over-50s concessional contributions cap. The over-50s concessional cap has been halved to $25,000 for the 2012/2013 and 2013/2014 years. For more … [Read more...]
UPDATE: In the May 2012 Federal Budget, Treasurer Wayne Swan, and Minister of Superannuation, Bill Shorten, have broken their promise about extending the over-50s concessional contributions cap. The over-50s concessional cap has been halved to $25,000 for the 2012/2013 and 2013/2014 years. For more … [Read more...]
The Australian Labor Party’s superannuation and retirement policies are reasonably well-known: the ALP have been in pre-election mode since the Government announced its response to the Henry Tax Review on 2 May 2010, and then confirmed the ALP policies in the 2010 May Federal Budget. Some of … [Read more...]
Q: Thank you for your newsletter. I always enjoy reading it, and find it very informative. I am single and 56 years old and hope to retire at age 60. I currently salary sacrifice the maximum of $50,000 into super, (this includes the 9% super guarantee from my employer). Now with the new $500,000 … [Read more...]
Although superannuation savers have generally done well from the Federal Government's Henry Tax Review announcements, and the May 2010 Budget, hidden away in the detail of the Budget announcements is a shocker. Mr Rudd and Mr Swan have frozen the indexation of the income threshold for … [Read more...]
UPDATE: In the May 2012 Federal Budget, Treasurer Wayne Swan, and Minister of Superannuation, Bill Shorten, have broken their promise about extending the over-50s concessional contributions cap. The over-50s concessional cap has been halved to $25,000 for the 2012/2013 and 2013/2014 years. For more … [Read more...]
In the recent past, SuperGuide has made a lot noise about the inequity of the SG rules for older workers. When you choose to work beyond the age of 69 you miss out on Superannuation Guarantee (SG) contributions. In other words, by working longer, older workers effectively took a pay cut. We now … [Read more...]
Using the Henry Tax Review as a political decoy, the Federal Treasurer, Mr Wayne Swan announced four major changes to the superannuation rules. The super news is a very big deal, because the changes, when legislated, should deliver larger retirement balances to more Australians. The … [Read more...]
The Government is digesting the Henry Tax Review and presumably cooking up mind-boggling changes to superannuation and retirement policy for the May 2010 Federal Budget. The Cooper review is considering the many industry submissions before preparing and delivering its final report to Government due … [Read more...]
In early February 2010, the Federal Government released a report reminding us that Australia’s population is growing, causing increased pressure on infrastructure such as housing, telecommunications, schools, energy, water and transport. Our growing population is also disproportionately … [Read more...]
Update: The Henry Tax Review has now been released. For the most recent, and relevant information on the main superannuation changes announced by the Federal Government, you can read the article Henry Tax Review: Swan says no, but yes yes to super or our special section on the Henry Tax … [Read more...]
