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2018 FWP Federal Budget Overview
Read more: 2018 FWP Federal Budget OverviewLast night’s federal budget stood out on a tax perspective and there were a couple of other positives to be found. Importantly, we’ve just clocked two consecutive budgets without major superannuation meddling. And the super changes we did get were positive. Pensioners The Pension Loans Scheme will be opened to all Australians over 65, including full rate pensioners and self-funded retirees, so they can boost their retirement income by up to $11,799 for a single and $17,800 for a couple without impacting on their eligibility for the pension or other benefits. Essentially a reverse mortgage, anyone over the retirement age can…
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2017 Federal Budget Review
Read more: 2017 Federal Budget ReviewLast night’s budget was notable for its lack of major superannuation meddling for once. So, in the absence of any truly significant changes, we’ve pulled out the key points for you to consider.Pensioners Older Australians who lost their pensioner concession card by the pension assets test change introduced this year – you will be getting them back. The Government will make a one-off Energy Assistance Payment of $75 for single recipients and $125 per couple for those eligible for pension payments on 20 June 2017 and who reside in Australia. The payment will be automatically paid in the week commencing…
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Meet The Boss
Read more: Meet The BossDid you see us in the Dubbo Photo News a few weeks back? In case you missed, it here it is. We were in the March 23-29 2017 edition. Thanks to Dubbo Photo News for taking the time to come to our office to chat and learn more about our services. [rt_social_media_icons]
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Super Changes from 1 July 2017
Read more: Super Changes from 1 July 2017The argy-bargy is over and late last year the government’s superannuation reforms from the 2016/17 budget passed through both houses of parliament. What does this mean? The reforms will come into place on July 1 2017, so here’s a rundown on some key changes. Transfer balance cap: From July 1 there will be a $1.6 million transfer balance cap on the amount of superannuation one can transfer into the tax-free retirement phase. Savings above this limit can remain in accumulation (where tax is 15%) or can be removed from the super environment. Earnings on the balances in retirement phase will…
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Superannuation Contribution Changes
Read more: Superannuation Contribution ChangesWith many of the changes announced in the 2016 Federal Budget now passed by Parliament, there is an amount of certainty that you can have when approaching your Superannuation planning and the contributions you might wish to make to your Superannuation. The Government is lowering both the concessional (pre-tax) and non-concessional (after-tax) contribution limits from 1 July 2017. One of the original proposed measures which received a lot of comment and caused concern was the $500,000 lifetime non- concessional contributions (after-tax contributions) limit. This proposed measure was dropped and replaced with a $100,000 annual limit on after-tax contributions. Pre-tax contributions…
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