Superannuation News

Read our News section if you want to find out the latest developments and recent changes in super. If you haven’t already subscribed, why not consider subscribing to our free, monthly SuperGuide email newsletter which includes the latest important news on super, easy-to-understand explanations on how different super rules works, Q&As and plenty of super tips.

Set out below are all SuperGuide articles explaining Superannuation News.

SMSF trustees face bigger penalties from 2015/2016 year

SMSF trustees can expect harsher fines from this financial year (2015/2016 year) onwards with administrative penalties of up to $10,800 per trustee (including corporate trustee) for a breach of the super rules.A SMSF trustee must run his or her super fund according to the superannuation rules. … [Read more...]

Reminder: Harsher penalties for SMSF trustees

Note: This article explains many of the recent changes to the superannuation rules that affect SMSFs.Effective since 1 July 2014, SMSF trustees can be subject to a suite of penalties, if they fail to properly adhere to the super rules.The explanatory memorandum that accompanied the … [Read more...]

SMSFs surge towards 560,000 controlling $590B in assets

Note: We regularly update this article with the latest data on superannuation funds issued by the Australian Prudential Regulation Authority (APRA). This article contains the latest statistics available, as of November 2015 (for data as at June 2015).Well over half a million self-managed super … [Read more...]

Do you fit the latest profile of a ‘typical’ SMSF trustee?

Note: We regularly update this article with the latest data on self-managed superannuation funds (SMSFs) issued by the Australian Taxation Office. This article contains the latest data available as at November 2015 (for data up to June 2015).The latest ATO statistics on SMSFs (representing SMSF … [Read more...]

Super rumour: Government to ban anti-detriment payments?

Recently, financial publications have been reporting on the use of anti-detriment payments, and the possibility that the federal government plans to ban such payments. This speculation continues even though at the time of writing, we do not have an official government response to the 2015 Tax … [Read more...]

Liberals response to Financial System Inquiry: Super and retirement summary

On 20 October 2015, the new Liberal leadership of the current Liberal government published their response to the Financial System Inquiry (FSI). For readers, it is safe to treat this response as a political document, drawing a line in the sand for the next federal election, due some time in … [Read more...]

Upper limit on SG contributions (for 2015/2016 year, and for previous years)

Note: This article explains the maximum superannuation contribution base for the 2015/2016 year, for the 2014/2015 year, and for previous years.The maximum superannuation contribution base is used to determine the maximum Superannuation Guarantee (SG) contribution that an employer is required to … [Read more...]

No income tax cuts for 2015/2016 year

Way back in 2011, the former ALP government announced income tax cuts that took effect from July 2012. At the same time, they also announced further income tax cuts that were planned from 1 July 2015 (for the 2015/2016 year onwards).During 2013 however, the former ALP federal government … [Read more...]

Age Pension: More Australians entitled to payments since September 2015

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...]