A lot of media focus is on self managed superannuation funds (SMSF’s) and their benefits. However, often the benefits and opportunities with a self managed super fund is often coloured and blurred with the investment opportunities available to a SMSF. So what is a SMSF? A self managed super fund is an Australian resident discretionary… Continue reading What is a self managed super fund and how does it work?
The introduction of “stapled super” has been effective from 1 November 2021. And many employers around the country – from Perth to Melbourne – are not yet fully across their new obligations. What is stapled super? The government has now introduced “Stapled super” which is an attempt to stop employee’s holding multiple superannuation funds… Continue reading An employer’s guide to “stapled super”
As a business employer you have an obligation to pay superannuation on behalf of your staff. And the tax penalties and tax administration of the superannuation guarantee system is complex and littered with multiple tax penalties ranging from higher superannuation, administration fees, loss of tax deductions and interest costs. The SGL applies to employment Australia… Continue reading Six handy tips on avoiding Superannuation Guarantee Charge Penalties (SGC)
The unique Australian tax advantages of superannuation are well known. And a key component of the tax benefits is dependent on the age of the person retiring and the amount of money a person retires on. This focus on the single member of a superannuation fund directly compares to how a family in business will… Continue reading The Tax Benefits of Superannuation Splitting