Welcome to our first update for 2022, in which we outline the key super measures that have recently been passed by both Houses of Parliament. Once Royal Assent is given, most of these changes will apply from 1 July 2022 Changes to the Work Test The work test requires individuals over the age of 67 to be gainfully employed for... More Information ▶
As you would be aware the budget was handed down last night here in Federal Parliament. There have been a number of personal tax changes proposed along with some minor changes to superannuation (in comparison to last year). The National Tax & Accountants' Association (NTAA) has prepared this summary which is available on their website. Please do not hesitate to... More Information ▶
Superannuation legislation proposed end of September 2016 have passed through both houses of parliament today. These make significant changes to the superannuation laws and do differ from the original changes announced in the Federal Budget in May 2016. The below changes will apply from 1 July 2017 so it might be sensible to for you to start thinking about how your... More Information ▶
As you would be aware the budget was handed down on 3 May 2016. The potential impacts to superannuation are unfortunately significant and harsher than was alluded to prior to budget night. What does it mean for your right now? The only change that is in place from 3 May 2016 is the introduction of a life time limit on... More Information ▶
The government has just announced that it had been successful in gaining support for the repeal in the Mining Tax Tax, but with that comes a freeze on the increase in Superannuation Guarantee Contributions (SGC). Until this year’s budget, the Labor government had SGC reaching 12% by 2019. This change sees it staying at 9.5% until 2021 before increasing in... More Information ▶
