Is a financial services compensation payment to your superannuation fund a contribution?

Did your super fund receive a compensation payment?

Is a financial services compensation payment to your superannuation fund a contribution? Of late, there have been several compensation payments made by financial services providers to customers that were inappropriately charged or overcharged for insurance premiums or services they did not receive, etc. New guidancefrom the ATO helps decipher whether these compensation payments are treated…

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…
Aerial view of Suburban Houses promoting property investment

Expert Warns, Invest In Property or Watch Savings Dwindle

Money is cheaper than it’s ever been on the back of a favourable interest rate environment, compelling Aussies to shift away from other types of investment vehicles and into property investment. Non-traditional property investors are looking to pounce on the favourable interest rate environment and dabble their feet in property, founder and director of Rethink…
ATO call centre contacting hundreds for eligibility to early access of super

COVID-19 | ‘Hundreds’ to be Contacted in ATO Early Super Compliance Blitz

Hundreds of Australians who applied for the COVID-19 early release of superannuation are set to be queried on their eligibility as the ATO kicks off a pilot compliance program. The ATO will now contact “hundreds” of people who appear to have been ineligible for the early release of super but have gone ahead to raid their…
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