To assist eligible individuals save for their retirement, the government will match personal (after-tax) superannuation contributions made up to certain
Read MoreAbout the Low Income Super Contribution (LISC)
The government also provides a low income super contribution of up to $500 annually for eligible individuals on adjusted taxable
Read MoreExcess Concessional Contribution charge explained
An excess concessional contribution (ECC) charge is applied to the additional income tax liability arising as a result of having
Read MoreExceeding contribution caps – how is it taxed?
Should an individual exceed their concessional contribution cap, the excess contributions are included in their income tax return and taxed
Read MoreClass software for SMSF administration and online client access
The SMSF Accountant uses specialised software to assist with SMSF administration and accounting. This software is called “Class”.
Class software means that clients
Read MoreSuperStream and SMSFs explained
What is SuperStream?
SuperStream is a government reform aimed at improving efficiency of the superannuation system.
Under this system, SMSFs must be
Read More2015/2016 Contribution Limits
For the 2016 financial year, commencing 1 July 2015, the concessional contribution cap (limit per member) is $30,000.
For individuals aged
2015/2016 Super Guarantee
The Super Guarantee (SG) percentage for the 2016 financial year remains the same at 9.5%
Subject to any further government changes,
Read MoreDeeming rules changes and rate changes effective 1 January 2015 and 1 March 2015
As of 1 January 2015, the normal deeming rules were extended to superannuation account based income streams. This means that
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