Superannuation

SME LOANS WITH OPTIONS FOR SUPER

AFR - Wednesday, 15 Sep 2021 - Page 24 Michael Jiang’s grocery business has been given a boost by a federal government-backed scheme enabling cheaper loans to expand operations, including buying commercial property. Strategy Government-backed funding for pandemic relief can ease retirement plans, writes Duncan Hughes. Michael Jiang’s grocery business has been given a boost…

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Revaluing Self-Managed Superannuation Funds

Not so long ago it was commonplace for Self-Managed Superannuation Funds (SMSF) trustees to revalue their property assets every 3 years. This was simply long-standing industry practice, assuming the property values don’t change quickly and therefore getting a new valuation every 3 years was appropriate. Even then there was no specific rule stipulating that valuations…

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Employee changes this financial year

There are few changes to the way employees and areas relating to your employees, that as a business owner, need to be across this new financial year. Minimum Wage Increase - 1 July 2021 The national minimum wage increased on 1 July by 2.5% to $20.33 per hour (or $772.60 per week). The minimum wage…

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The rules for super are changing

Recent changes to super are coming into effect, which will impact your business and employees. Super Guarantee Contributions From 1 July 2021, the amount of Superannuation Guarantee Contributions (SGC) that employers have to pay on their employees' wages is increasing from 9.5% to 10%. As an employer, you will need to ensure that your payroll…

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How to make the most of higher super contribution caps

Article taken from AFR March 4 2021 Depending on your age and how much you’ve already got in retirement savings, after July 1 the new pre-tax cap will be $27,500 and the after-tax cap $110,000. From July 1 this year, you may be able to boost your superannuation savings and have more for retirement because…

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The best ways to structure and pass on your wealth

AFR - Wednesday, 4 Nov 2020 - Page 24 There’s been a lot of talk in recent years about the ‘‘ SKI’ ’ phenomenon (spending the kids’ inheritance) but there are many Australians who want to help their children financially – either now or in the future – passing on the wealth they built in…

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Taxwise Business News – November 2020

Our latest TaxWise Business newsletter is now available. Topics covered include; Budget measures now law, JobKeeper updates, what has the ATO been up to? tax tips, ABN details, business structures, superannuation and key tax dates. PrincipleFocus-TaxWise-Business-News-November-2020Download

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The Derivatives Lure Catching SMSFs

As official interest rates hover at an all-time low of 0.25%, SMSFs are being challenged to generate acceptable returns through defensive assets such as cash and term deposits.SMSF trustees are now starting to look towards investing in high-risk assets such as derivatives because they think they can outperform the market and get a quick return.Typically,…

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TaxWise Business News – September 2020

Our latest TaxWise Business newsletter is now available. Topics covered include; Changes to JobKeeper, Cash flow boost changes, Superannuation guarantee amnesty expires soon, Tax changes, Scammers and Key tax dates. PrincipleFocus TaxWise Business Newsletter - September 2020Download

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TaxWise Individual News – September 2020

Our latest TaxWise newsletter is now available. Topics covered include; JobKeeper updates, Cash flow boost changes, COVID-19 early release of Superannuation, Income Tax Returns, Scammers and Key tax dates. PrincipleFocus TaxWise Individual News - September 2020Download

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