Superannuation

May 18, 2022

There have been some important changes to MYOB subscription payments. Up until this point, Roberts & Morrow have managed your subscription (practice pays)  however we are streamlining the MYOB process and arranging subscription payments with all clients to be directly debited from MYOB (client pays) Over the...

April 20, 2022

Two landmark cases before the High Court highlighted the problem of identifying whether a worker is an independent contractor or employee for tax and superannuation purposes. Many business owners assume that they will not be responsible for PAYG withholding, superannuation...

March 31, 2022

In Australia, it is estimated that around 300,000 young, part-time, mostly female workers currently and legally do not receive super contributions from their employers under the super guarantee scheme. This is due to their before-tax earnings per month falling...

March 16, 2022

By Thomson Reuters Tax & Accounting  More people will soon be able to make up to $300,000 in downsizer contributions into super with the lowering of the age limit to include those 60 years and over from 1 July 2022. Before...

March 16, 2022

By Thomson Reuters Tax & Accounting  The maximum amount individuals can take out of their super under the First Home Super Saver Scheme will be increased from $30,000 to $50,000 for any release requests made on or after 1 July 2022....

March 16, 2022

By Thomson Reuters Tax & Accounting  Individuals aged between 67 and 75 will be able to make non-concessional, and salary sacrificed contributions without the need to pass the work test or satisfy the work test exemption criteria from 1 July 2022....

February 16, 2022

Federal Parliament has recently passed legislation that will implement a number of measures which will improve the flexibility and equity of the superannuation system, assist first home buyers, and also reduce costs and complexity for self-managed superannuation funds. Removal of...

February 11, 2022

Current record low deposit rates and volatility in stock markets around the world has motivated many retirees to seek alternative asset classes to either protect their investments or get a higher return. In conjunction with these sentiments, there has...

January 21, 2022

Insurance within super is usually the most cost effective way for an individual to cover themselves in the event of a mishap. Most super funds typically offer three types of insurance for their members consisting of life cover, total...