Self Managed Super Fund Articles
2026-27 Federal Budget
The 2026-27 Federal Budget has been released. We answer the question, "What is in it for me?" The Answer is disappointingly, More Tax to Pay. This is a Seismic shift in Tax policy to raise money from individuals and business for the Government to fund their specific...
2025-26 Federal Budget
The 2025-26 Federal Budget has been released. We answer the question, "What is in it for me?" There is a $268 tax cut for the 2027 and 2028 Financial Years but we have to wait another year for this to start. We have $150 of electricity rebates and a 20% reduction of...
2024-25 Federal Budget
The 2024-25 Federal Budget has been released. We answer the question, "What is in it for me?" However, very little this year except for electricity subsidies and already legislated tax cuts that got reallocated to lower income earners and increases bracket creek....
2023 Federal Budget
The 2023-24 Federal Budget has been released. We normally answer the question, "What is in it for me?" However, disappointingly, very little this year. Individuals will need to wait another year to confirm that the legislated tax cuts will commence 1 July 2024. Points...
2022 Federal Budget
The 2022-23 Federal Budget has been released. What’s in it for you includes: Individuals Low & Middle Income Tax Offset has a One Off Increase of $420 to $1,500. This is received as a rebate on lodgement of your 2022 Tax Return from 1 July this year. Costs of...
2022 Federal Budget – Superannuation
The 2022-23 Federal Budget has been released. What’s in it for you includes: Superannuation Extending the 50% reduction of the Minimum Drawdown of Pension Payments for Account Based Pensions to 30 June 2023. The Super Guarantee rate to increase to 10.5% on 1 July as...
Are You a Director of a Company?
If Yes, then you need to take action and are now required to apply for a Director ID with the Australian Business Registry Services (ABRS). If No, then No action is required. A Director ID is a unique identifier in dealing with ASIC that a Director will keep for life...
2021 Federal Budget
The 2021-22 Federal Budget has been released. The Main Points include: Individuals The Low & Middle Income Tax Offset has been Retained for the 2021-22 Financial Year. Continuing this tax offset provides a rebate of up to $1,080 each on lodgement of an Individual...
2021 Federal Budget – Superannuation
The 2021-22 Federal Budget has been released. The Main Points include: Superannuation Super Guarantee Contribution (SGC) rate on Wages is to increase to 10% on 1 July 2021. Subsequently Increase to 10.5% on 1 July 2022 and keep increasing until it reaches 12% on 1...
Contribution Caps Increasing from 1 July 2021
The ATO have announced that the Contribution Caps for Super are increasing from 1 July 2021. The new Contribution Caps will be: Concessional Cap of $27,500. (Up from $25,000) Non Concessional Cap of $110,000. (Up from $100,000) The Concessional Cap is for super...
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