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Changes to superannuation tax breaks for 2023

You have probably heard the recent Labour announcement earlier this week of significant changes to super that may impact you. On 28th February 2023, the government announced that from 1st July 2025 a 30% concessional tax rate will be applied to future earnings for superannuation balances above $3 million. As of yet, this cap has … Continued

Is a self-managed super fund right for you?

A recent report by Rice Warner comprehensively evaluates the comparative costs of running a self-managed superannuation fund (SMSF) versus an Australian Prudential Regulation Authority fund (APRA). Firstly, let’s take a look at what each fund is and how they’re set up. A self-managed superannuation fund (SMSF) is a type of private super fund (a trust) … Continued

The Federal Budget 2020-21

As anticipated the Government has delivered a budget with measures aimed at reviving the economy and creating jobs.  In a budget that is encouraging spending on many levels, there are loads of tax-related measures for business, as well as several positives for individuals.  We wanted to give you a summary of all the measures that … Continued

Government Stimulus and Free Webinar

The Government has announced a second round of stimulus that is significantly larger than what was proposed two weeks ago, to assist businesses through the economic shocks of COVID-19. The measures currently in place are as follows: Boosting Cash Flow for Employers    This stimulus measure has been enhanced with eligible businesses now able to receive … Continued

First Home Super Saver Scheme – Draft Legislation

Are you sick and tired of paying your rent that makes your landlord rich and does nothing for your future? Thinking of buying your first home but you don’t have the money for a home deposit yet? We have good news for you! The Australian government has announced the First Home Super Saver Scheme in … Continued

Annual Change in Superannuation Rules

Superannuation is a political football

Every year, it seems, they change the rules – the retirement age, the contributions cap, and so it goes on.  The most recent changes to superannuation include; Introduction of $1.6m cap on income streams with tax penalties if higher amounts are rolled over The division 293 income threshold for high income earners will be cut from … Continued


Superannuation changes

Following on from proposed superannuation changes announced in the Federal Budget in May 2016, the Government has just announced the following amendments;The proposed $500,000 lifetime non-concessional cap will be replaced by a new measure to reduce the existing annual non-concessional contributions cap from $180,000 per year to $100,000 per year; Opportunity: This does not come into … Continued

Federal Budget Update

The Federal Budget

The 2016 Budget was always going to be interesting. On one hand the Liberal Party wished to use this Budget as their policy platform for the coming election, and on the other hand, a budget deficit exists that needs to be eventually reduced. This Budget achieves its objectives of providing a few tax ‘perks’, whilst also increasing taxes … Continued

Difference Between Lump Sum and Pension

Pension v Lump Sums

The Option of Pension or Lump Sum Withdrawals All amounts that you withdraw, no matter if it is pension or lump sum in form, would never be charged any taxes on the condition that you are in the age range of above 60. If you are in the age range of 55 to 59, there … Continued

Difference Between Lump Sum and Pension

Non Concessional Contributions for People Aged Under 65

Non-Concessional Contributions Non concessional contributions are those personal contributions that are deposited into your SMSF’s bank account which have been taken from your after tax income; i.e. you are not claiming a tax deduction for them. Rather than coming from your employer, these contributions are coming from your own personal bank account. Eligibility Anyone under … Continued