Current news from our news service

Hot Issues
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10% Super Guarantee from 1st July 2021
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End of year financial strategies
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Closely held payees: STP options for small employers
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Videos to help understand accounting topics.
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ATO Small Business Newsroom - May / June
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New insolvency rules commence
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ATO sheds light on crypto compliance focus
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Post Federal budget reflections
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Federal Budget 2021 - Overview
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Building a more secure and resilient Australia
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Federal Budget 2021 - Health
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ATO signals crackdown on 4 ineligible work-from-home claims
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Taxpayers urged to keep work-from-home records
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Businesses feeling ‘adverse’ impacts of COVID-safe measures: ABS
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New insolvency rules commence
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ATO promises not to ‘destroy’ businesses as it resumes debt collection
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5 strategies for successful ‘work from home’ policies
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Small businesses: don’t forget your FBT concessions
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ATO chases $172bn in undeclared contractor income
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‘Penalties will resume’: ATO flips the switch on debt recovery
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JobMaker Hiring Credit rules and reporting
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ATO data-matching: JobMaker
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A broad range of Calculators.
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ATO Small Business Newsroom
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ATO’s good-faith approach to crypto won’t last much longer
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‘Much more complex’: ATO introduces new partnership profit guidelines
Article archive
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Quarter 4 October - December 2017
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Quarter 4 October - December 2016
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Quarter 3 July - September 2016
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Quarter 1 January - March 2016
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Quarter 4 October - December 2015
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Quarter 3 July - September 2015
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Quarter 2 April - June 2015
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Quarter 1 January - March 2015
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Quarter 4 October - December 2014
Contributing to Superannuation

 

Superannuation remains the best available form of an individual retirement savings plan, in spite of continuing government changes.

 

       
Superannuation retains its favored position mainly due to tax concessions allowed by the government as an encouragement to fund your own retirement.
 
Unfortunately, compulsory super has lulled many people into a false sense of security.  They feel that their compulsory super will adequately cover their retirement needs.  The trouble is that compulsory super has not arrived soon enough to fully help most people.  For those who are say aged 30 or over, additional retirement savings will, in many cases, be required.
 
The self-employed who are not taking a wage have to fully provide their own super.
 
If you are intending to make a super contribution, some of the many questions arise:
 
• Am I contributing an adequate amount to fund my retirement?
• Are salary sacrifice contributions to super a good idea for me?
• Should I have my own self-administered super fund?
 
Answering this sort of question is very important, no matter your age.  The sooner you start the better but, in almost every case, asking for some professional assistance does help.  
 
 
 
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