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SG changes apply now

Super guarantee changes have been in place since July — is your payroll system up to date?

To avoid additional costs, including the superannuation guarantee charge (SGC), employers must pay the correct amount of super for all eligible employees by the quarterly due date.

Whether you’re paying super weekly, monthly or quarterly, it’s important […]

Superannuation Guarantee changes

Is your system updated for the latest SG changes?

From July 2022, the $450-per-month super guarantee (SG) eligibility threshold was removed.

This means that if an employee meets the other SG eligibility requirements, you must pay them SG, regardless of how much they earn. However, employees under 18 must still work more than 30 hours in […]

Reduce Your 2022 Tax

Tax planning key priorities

With the end of financial year approaching quickly, NOW is the time to discuss with us the actions you can take before 30 June 2022 to reduce your tax and grow your wealth.

Many business owners have reduced their 2022 PAYG instalments to Nil during the COVID-19 period, but now you […]

Superannuation investment scam alert

November 2021 phone and email scams – superannuation

The ATO is concerned about an increase in scams involving fake superannuation investments.

Scammers are phoning and emailing people, pretending to be financial advisers or super experts. They are encouraging people to invest their super in a supposedly high performing self-managed super fund (SMSF).

These scammers will […]

Your SMSF investment strategy

Have you reviewed your SMSF investment strategy?

Self-managed super funds (SMSFs) are required to prepare and implement an investment strategy to help meet their investment and retirement goals.

The investment strategy is not designed to be a ‘set and forget’ document but rather a strategy you continuously review to ensure you are meeting your retirement […]

Stapled super fund details start November

Request stapled super fund details for employees

What you need to do from 1 November 2021

From 1 November 2021, if you have new employees start, you may have an extra step to take to comply with choice of fund rules if they don’t choose a super fund. You may now need to request their […]

Extra ‘super’ step when hiring new employees

Stapled super funds

Most new employees are eligible to choose the super fund into which employers pay their super guarantee contributions.

Currently, when a new employee doesn’t choose their own super fund, the employer must pay super contributions into their default fund.

From 1 November, if any new employees start, the employer may have an […]

Increase In SMSF Membership

Increase in SMSF membership receives royal assent

Treasury Laws Amendment (Self Managed Superannuation Funds) Bill 2020 received royal assent on 22 June 2021.

From 1 July 2021, self-managed super funds (SMSF) and small APRA funds (SAFs) will be able to have up to six members.

If you are considering expanding your fund, you will need to […]

Switch now to Online services for business

Online services for business replaces the Business Portal and the electronic super audit tool

With a range of new features, this new service allows users to interact with the ATO in a more contemporary way.

Online services for business can be accessed on multiple devices, including smart devices like your phone or tablet.

To start […]

Scam alert: Self-managed super fund rollover

ASIC aware of scams targeting Australians to establish SMSFs

People are cold-called or emailed and asked to transfer funds from an existing super account to a new SMSF.

The super balances are instead transferred to bank accounts controlled by scammers!

Be wary of being cold-called or contacted from people promoting SMSFs, particularly with promises of […]