Often accountants, due to their generous nature, try to avoid obtaining an actuarial certificate by manually apportioning income and expenses. However, where a member is accessing a transition to retirement pension and contributing to the fund, this method of apportionment is not a true segregation...
As of 1 July 2013, the Superannuation Guarantee (SG) percentage will rise from 9% to 9.25% with a stepped increase to 12% by 2019. This is certainly a much needed boost for superannuation but at what cost to Australian businesses and their employees? Are the changes...
The existing $50,000 transitional cap for people 50 years old or older does not apply to the 2012-13 financial year. You may want to review the amounts you plan to contribute into super to avoid exceeding your cap of $25,000 for the 2012-13 year.....
The compulsory super rate is increasing over the next 7 years from the current 9% to 12% by 2020. As of 1 July 2013 all employers will be required to contribute 9.25% to super for all eligible employees. Employees aged 70 and over, from 1 July...
Yes, if on 1 July you were 64 years of age, you then turn 65 later in the year and then make the $450,000 contribution. However, if you have turned 65 during a financial year, then in order to make super contributions you must satisfy...
Handy strategy for couples with big age differences. Split from the younger spouse to the older spouse to gain earlier access to super benefits. May also work splitting from the older spouse to the younger spouse to gain access to the Governments Health Card. Also...