In this article we provide a snapshot of Australian superannuation changes which come into effect on 1 July 2021 and their implications. Below we cover: Super guarantee rate changes New stapled superannuation employer obligations for new staff Superannuation contributions caps Transfer balance cap Minimum superannuation drawdown If you have any questions about superannuation implications for…
Those who have been affected financially due to Covid-19 can have early access to superannuation. Those who elect to withdraw moneys out of their super will not be taxed and do not include it in their tax return. Is this too good to be true? Could it damage your chances of getting a home loan?…
Here is an outline of the Coronavirus stimulus package proposals made by Scott Morrison this week to help Australians weather the economic impacts of Coronavirus. Importantly this package is a proposed package and the changes are not yet in effect until passed into Legislation. Instant Asset Write Off Currently the instant asset write off is $30,000 for small…