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.
Below are some of our key News articles:

Set out below are all SuperGuide articles explaining Superannuation News.

MySuper: 118 super funds now available

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Note: This article provides a complete list of official, authorised MySuper products. This list will be updated regularly if any additional MySuper products are authorised by the Australian Prudential Regulation Authority (APRA). This article last updated on 8 July 2014. Since 1 July 2013, super … [Read more...]

Superannuation rates and thresholds for 2014/2015 year

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Note: This article lists the latest superannuation rates and thresholds for the 2014/2015 year, and for earlier financial years. One of the most searched-for superannuation thresholds is the contributions cap for the latest financial year. For the 2014/2015 year, the general concessional … [Read more...]

Temporary concessional contributions cap expanded to 50-somethings from July 2014

Superannuation alert

In July 2013, the federal government introduced a temporary concessional contributions cap of $35,000 for over-60s which has been expanded to 50-somethings from July 2014. Anyone in this age group may consider revisiting their superannuation contributions strategies in light of the higher … [Read more...]

Higher concessional contributions cap applies to over-50s from July 2014

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Q: Do you need to be aged 50 at July 1, 2014, or could you turn 50 any time in 2014/2015 to take advantage of the $35,000 concessional cap? A: For the benefit of other readers, I will first explain the background to the over-50s cap. On 5 April 2013, the federal government announced that it will … [Read more...]

Age Pension: Assets test thresholds rise 1 July 2014

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The LOWER and UPPER asset thresholds for the Age Pension assets test lift again on 1 July 2014, which means more Australians may now be eligible for a FULL Age Pension, or more Australians will now be eligible for a PART Age Pension. A single person can own more than $760,000 in assets (excluding … [Read more...]

Age Pension: More Australians entitled to payments from July 2014

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In March, July and September of each year, the Federal Government changes the rules for claiming the Age Pension… for the better! 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. From 1 July 2014, the … [Read more...]

SG now paid for over-70s (since July 2013)

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Since 1 July 2013, eligible employees who are 70 years or older have received Superannuation Guarantee (SG) payments from employers. The previous SG rules stopped SG entitlements when an employee turned 70 years of age. What this means is that since 1 July 2013, eligible employees aged 70 years … [Read more...]

New penalties for SMSF trustees from July 2014

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From 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 accompanies the new legislation, states that the new SMSF penalties, taking effect from 1 July 2014 will enable the ATO to “give directions and … [Read more...]

Age Pension Bonus: Hurry! Last chance to register

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Hurry, hurry! Deadline approaching! If you’re still working and you were aged 65 or over (or 63.5 or over if you’re a female) before 20 September 2009, then you need to read this article, and the Q and As following this article. If you fall into this age group and you expect to receive the Age … [Read more...]

Upper limit on SG contributions (for 2014/2015 and previous years)

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Note: This article explains the maximum superannuation contribution base for the 2014/2015 year, 2013/2014 year and previous years. The maximum superannuation contribution base is used to determine the maximum Superannuation Guarantee (SG) contribution that an employer is required to make under … [Read more...]