Older Australians in SMSFs will be able to contribute earnings or savings directly into superannuation funds with the repeal of the work test.

Work Test Scrapped for Voluntary Superannuation Contributions

Older Australians in SMSFs will be able to contribute earnings or savings directly into superannuation funds with the repeal of the work test. The government has announced it will allow individuals aged 67 to 74 years (inclusive) to make or receive non-concessional (including under the bring-forward rule) or salary sacrifice superannuation contributions without meeting the…
Your SMSF: when expenses and investments are not at arm’s-length

Your SMSF: When Expenses and Investments Are Not at Arm’s-Length

We often get questions from clients about what they can and cannot do in their SMSF. Often the questions relate to related party transactions – that is, interactions between the SMSF, its assets, and its members (or relatives of members).  We’ve set out some of the common questions and answers. In general, all interactions between…

The 1st July Superannuation Changes

Changes from 1 July 2021 will impact on how much money you can contribute to superannuation and how much you can have in your retirement phase superannuation account. In general, your superannuation is either in an accumulation account (when you are building your super), a retirement account (when you meet preservation age and certain conditions…

New Laws for Super, Insurance and Exit Fees

From 1 July 2019, new laws commenced preventing superannuation providers from eroding member balances with unwanted or unnecessary insurance and exit fees. Plus, inactive accounts with low balances are now moved to the ATO to try and unite the unclaimed super with its owner. These changes do not apply to self-managed superannuation funds or small…

Desk calendar with July 1st

Superannuation Changes Coming July 1st

  An alarming stat shows how many Australians have no idea about a major change coming on July 1. And it could leave you without life insurance. Australians could be left stranded without life insurance on July 1 when a little-known but significant change to superannuation is enforced. Most are unaware their superannuation has a…

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