Ask any woman juggling career, home and family and she’ll tell you it’s a hard slog. Yet as retirement looms, dreams of enjoying the rewards of all that work are... read more →
If you pay close attention to the value of your superannuation fund, and if, like most people, your money is spread across the main investment classes, you would have noticed... read more →
New APRA guidance confirms retirement for members who reach 60 and cease one of two jobs Introduction The Australian Prudential Regulation Authority (‘APRA’) has just updated its Superannuation Prudential Practice... read more →
Imagine you were starting your career all over again. You have your whole working life in front of you. How would you set up your financial affairs? The superannuation system... read more →
Superannuation can be one of the most baffling topics when it comes to managing our finances so let’s relate looking for the right fund to something that might be more... read more →
Paul Taylor was a fit and active 45-year old who drowned while swimming in surf on a family holiday. Witnessing this tragic event unfold from the beach were Paul’s wife,... read more →
If 50 really is the new 40, then life has just begun. The kids are gaining independence or may have left home, and the mortgage could be a thing... read more →
If you are in your thirties, chances are life revolves around children and a mortgage. As much as we love our kids, the fact is they cost quite a lot.... read more →
The Government recently released for public consultation the third round of exposure draft legislation and explanatory material to lower the annual non-concessional contributions (‘NCCs’) cap to $100,000 and restrict eligibility... read more →
Life in your 50's is great. You don’t have a huge mortgage, the kids have grown up and are not as dependent on you, your career has progressed… So what... read more →
There will be no changes to the super contributions caps for the 2015/16 year. Limits will remain the same as last year: Concessional (before tax) contribution cap (age as at 30... read more →
The compliance requirements for SMSFs at end of financial year are extremely stringent, and it is important for trustees to be acutely aware of their responsibilities. Of course, your accountant... read more →
Once it is clear that an SMSF has run into problems, it seems counter intuitive to some trustees to assist the ATO in investigation or in prospectively rectifying issues. However,... read more →
The FSI final report — chaired by David Murray — was recently released. The full text is available at http://fsi.gov.au/publications/final-report/ As expected, it has recommended that limited recourse borrowing arrangements (‘LRBAs’) in... read more →
Introduction True to its word, on 10 October 2014 the Government introduced draft legislation, which proposes practical and long-awaited changes to the treatment of excess non-concessional contributions (‘NCCs’). This article... read more →
The latest official word on the status of excess non-concessional contributions was a positive one, but caution is still needed. The latest official word The ATO published on Friday 26... read more →
In taxation ruling TR 2010/1 the ATO consider what is a contribution to a superannuation fund and when a contribution is made. A recent court case, Liwszyc v Commissioner of... read more →
In the years since the introduction of contribution caps (generally from 1 July 2007), the maximum amount you may contribute to your superannuation has changed quite a few times. As... read more →
The generally accepted notion is that superannuation is protected on bankruptcy due to s 116(2)(d)(iii) of the Bankruptcy Act 1966 (Cth). However, the Commissioner has recently shown a willingness to... read more →
Applications are regularly made to the ATO, often at a significant cost to taxpayers. The associated professional fees alone can run into the thousands of dollars. Therefore, even if an... read more →