Employers & business The superannuation guarantee increases to 11% from 10.5% National and Award minimum wage increases take effect. The minimum salary that must be paid to a sponsored employee – the Temporary Skilled Migration Income Threshold –...
Tax deductions for topping up super You can make up to $27,500 in concessional contributions each year assuming your super balance has not reached its limit. If the contributions made by your employer or under a salary sacrifice agreement have not reached this $27,500...
Future earnings for superannuation balances above $3m taxed at 30% from 2025-26 The Government has announced that from 2025-26, the 15% concessional tax rate applied to future earnings for superannuation balances above $3 million will increase to 30%. The concessional...
From 1 January 2023, those 55 and over can make a ‘downsizer’ contribution to superannuation. Downsizer contributions are an excellent way to get money into superannuation quickly. And now that the age limit has been reduced to 55 from 60, more people have an...
When used in the right circumstances a self-managed super fund (SMSF) can provide important benefits for individuals looking for greater levels of investment flexibility and control over how their super savings are invested. New research released by the University of...
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