Lowering the annual non-concessional contributions cap
30 Sep 2016
On 15 September 2016, the Government announced changes to the superannuation measures announced in the May 2016 Budget. There is now a proposal to lower the existing non-concessional (post-tax) contributions cap from $180,000 to $100,000 per annum with a three-year bring forward period for individuals under age 65 (i.e. $300,000 over three years). Individuals with […]
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Provision of SMSF details to employers
17 Sep 2016
As of 28 October 2016 all employers are required to be SuperStream compliant. Employers will send contributions electronically to super funds using the SuperStream standard. This includes self-managed super funds (SMSFs). All super funds (including SMSFs) that receive employer contributions have a requirement to be able to receive contribution payments and associated data electronically. Employers will […]
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Super for temporary residents departing Australia
15 Sep 2016
If you are a temporary resident working in Australia, your employer has to pay super guarantee contributions for you if you’re eligible. When you leave Australia, you may be able to claim your super as a departing Australia superannuation payment (DASP). Please click on the link below for further information: Source: https://www.ato.gov.au/individuals/super/in-detail/withdrawing-and-paying-tax/super-information-for-temporary-residents-departing-australia/
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Medicare levy surcharge and private health insurance rebate thresholds frozen
28 Aug 2016
In the 2016-17 Federal Budget, the government announced that it will continue the pause on indexation of the income thresholds for the Medicare levy surcharge and private health insurance rebate for a further three years from 1 July 2018 to 30 June 2021. This change is not yet law. Under the current law, indexation of […]
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