Do I need to pay super for my 16-year-old employee?
Q: I am a small business owner who currently employes a 16 year-old employee. They work a min of 20 hrs per week & their gross income exceeds $450 per calendar month. Am I required to pay them superannuation?
SMSF basics: Is there a minimum or maximum age for starting a DIY super fund? (2 questions)
Q: Let us say I contribute to super to a retail managed fund and then at 65 I want to receive an income and/or the fund says I am no longer eligible to remain in the fund and I have to take the money. Can I at that time set up a DIY super fund?
Estate planning: Dear Dad, Tax for everything
If you plan to leave your super to your adult children when you die, your death benefit may be hit with tax, even though you would have received that benefit tax-free (if aged 60 or over) while you were alive.
Estate planning: Beware the dastardly death tax
Although superannuation death benefits are tax-free when paid to dependants, a “death tax” continues to apply when super monies are paid to non-dependants.
Super for beginners, part 2: My first job
Question: I am 16 years of age. I still go to school but I have just started my first part-time job. Do I get any superannuation? And if I do, where does it go?
