Super Contributions
Superannuation: Closely-Held Employees Small businesses, especially family-run ones, require careful attention to payroll for closely held employees, such as family members, directors, and shareholders. The Australian Tax Office (ATO) mandates that all employers adhere to Single Touch Payroll (STP) reporting requirements regardless of the employee’s relationship to the business. However, small businesses with fewer than …
Superannuation: Self-Employed & Contractors If you’re a contractor, freelancer, or self-employed, you’re probably already juggling multiple responsibilities, from managing clients to keeping track of your income. One area that often gets overlooked is superannuation, but it’s crucial to think about your future. Even though you may not have an employer making regular super contributions on …
Superannuation: Spousal Contributions Superannuation is a vital aspect of retirement planning in Australia, ensuring individuals have sufficient savings for their later years. One effective strategy to enhance your family’s overall superannuation balance is through spouse contributions. Spouse contributions involve one partner making voluntary superannuation contributions to their spouse’s super fund. This can be particularly beneficial …
Superannuation Before The EOFY for the Self-Employed As the End of Financial Year (EOFY) approaches, self-employed individuals have a unique opportunity to bolster their retirement savings and take advantage of significant tax benefits. While the self-employed may not have the automatic superannuation contributions that employees receive, proactive planning and strategic contributions can yield substantial long-term …
Superannuation Clearing House As the End of the Financial Year (EOFY) approaches, it’s crucial for employers and self-employed individuals to ensure their superannuation contributions are processed efficiently and on time. Utilising a superannuation clearing house can streamline this process, ensuring compliance and maximising the benefits of super contributions. Here’s a comprehensive guide on why and …
Super for Millenials & Gen Z Millennials and Gen Z are facing some of the most difficult challenges when it comes to financial priorities. Between paying off HECS debts/HELP loans and saving for a first home, these immediate concerns often overshadow long-term goals like retirement planning. In the midst of these immediate concerns, it’s easy …
Superannuation Contributions As retirement looms, ensuring a comfortable and secure future becomes a top priority for many individuals. One essential aspect of this preparation is maximising superannuation contributions. With the right strategies, you can harness the power of compounding interest and investment growth to build a substantial nest egg in your superannuation for your golden …