Current news from our news service

Hot Issues
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Stage 2 – Covid-19 stimulus package.
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Covid-19 Update - Small Business
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PM launches $17.6 billion virus stimulus plan
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SG amnesty bill passes Parliament
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ATO flags most common SMSF return mistakes
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Expected GDP by country 2010 to 2100
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ATO expands small business review pilot
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A resource hub for our clients.
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Risks when dating documents in 2020
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Australian Taxation Office (ATO) debts may affect your credit rating
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Statistical picture of Australia - Update
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Absentee Property Owner – Tax Whack - Victoria
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Debate heats up around $10k cash ban bill
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There’s still time to move to Single Touch Payroll (STP)
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Real Time World Population Growth - Wow!!
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ATO audits continue to target Lifestyle assets
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Property deduction errors down to ‘lack of understanding’: ATO
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Data can be great stuff! - Australia
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GST refunds for returned imported goods
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14k employers, $230m in super: Financial Services Minister defends proposed SG amnesty
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Bushfires 2019–20 (ATO)
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Accounting profession responds to bushfire crisis
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Helping your business survive a natural disaster - ATO
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Single Touch Payroll (STP) – now ensure super is paid on time.
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Beware of Australian Taxation Office (ATO) impersonation scams
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Australia by the Numbers
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‘Visible, valued and owned’: ATO outlines super priorities for new year
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Introductory Rates & Interest Free Periods
Article archive
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Quarter 4 October - December 2019
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Quarter 3 July - September 2019
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Quarter 2 April - June 2019
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Quarter 1 January - March 2019
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Quarter 4 October - December 2018
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Quarter 3 July - September 2018
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Quarter 2 April - June 2018
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Quarter 1 January - March 2018
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Quarter 4 October - December 2017
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Quarter 3 July - September 2017
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Quarter 2 April - June 2017
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Quarter 1 January - March 2017
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Quarter 4 October - December 2016
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Quarter 3 July - September 2016
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Quarter 2 April - June 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
Why so much super “stuff” this year?

New rules mean that insurance coverage will be cancelled on “inactive” superannuation accounts from 1 July 2019, unless the fund member informs the fund in writing that they want to keep the insurance.

       

 

Also, where an inactive account has a low balance (under $6,000) the fund will have to send that super to the Australian Taxation Office for “consolidation and safekeeping”.

If you haven’t made contributions or rolled over your super in the past 16 months, no matter what your balance, it’s important to check in with your fund now to keep your account active and maintain the insurance you want.

The new law also bans super funds from charging exit fees when you want to leave the fund, which should make it easier to change and consolidate your super accounts when you need to.

Life insurance within superannuation can be cheaper.  If you are in doubt whether you should have it, why not ask your dependents?

 

 

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