Superannuation

Why Accounting is about more than the numbers!

Why Accounting is about more than the numbers!

Success is defined by many people in so many different ways. Whether it is money, status, accomplishments, family or feelings. For me, success is defined by the people with whom I am surrounded by. The article I was so privileged to feature in, is a bit about me and my journey to where I am […]

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Relationship breakdowns and Superannuation

Filed in Articles, Individuals, Superannuation by on October 15, 2013 0 Comments
Relationship breakdowns and Superannuation

The ATO define a spouse as “A spouse includes another person, although not legally married to the person, who lived with the person on a genuine domestic basis in a relationship as a couple (whether of the same or different sex).” If there is a breakdown of a relationship with your spouse in regards to […]

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Legislation changes to Superannuation death benefits

Filed in Articles, Superannuation by on October 1, 2013 0 Comments
Legislation changes to Superannuation death benefits

The Government has moved to “provide tax certainty for deceased estates in situations where a person has died while in receipt of a superannuation income stream” by issuing recent legislation amendments. These amendments confirm that when a fund member was receiving a superannuation income steam prior to their death (therefore the earnings on this pension […]

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5 Things you need to know about insurance in SMSFs

Filed in Articles, Superannuation by on May 8, 2013 0 Comments
5 Things you need to know about insurance in SMSFs

 Source: IntheBlack By Tony Negline and Penny Pryor Insurance is an important protection for your family and your assets, whether it is inside or outside of your self-managed superannuation fund. There have been a number of changes over the past 12 months that will not only affect the kind of insurance your SMSF can hold, […]

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AWARD APP LAUNCH

AWARD APP LAUNCH

Here at Award we have worked hard to expand our mobile and tablet app. Our app now has five functions: GST calculator – enter an amount and click a button to see price after or before GST, and the GST component. PAYG calculator – A handy tool for employers to calculate withholdings on wages or […]

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The SMSF Magnificent Seven

Filed in Articles, Superannuation by on April 4, 2013 0 Comments
The SMSF Magnificent Seven

Source: INTHEBLACK by Tony Negline & Penny Pryor The SMSF Magnificent Seven Rules for claiming personal super tax deductions If you’re self-employed or semi-retired, you could be  eligible for significant tax deductions when you make contributions to your superannuation fund. These deductions will, in effect, increase the size of your contributions and mean a big […]

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Self-Managed Super Fund’s

Filed in Articles, Superannuation by on January 25, 2013 0 Comments
Self-Managed Super Fund’s

Superannuation in Australia is growing in significance with the aging population and government policy encouraging personal reliance on superannuation. Currently there are currently over 500,000 self-managed super funds in Australia with this number growing. The average member balance in SMSFs is $467,000. The tax advantages of a SMSF are clear – income from investments held […]

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Beware Compliance when Self-Managing Super

Filed in Superannuation by on January 14, 2013 0 Comments
Beware Compliance when Self-Managing Super

While any such transfer will be subject to a 15 per cent tax, any income derived as a consequence of the transfer will also only be subject at the most to a 15 per cent tax.  More important is that once the taxpayer turns 60, pensions paid by the fund to the taxpayer will be […]

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Super Tools & Calculators

Filed in Articles, Superannuation by on January 14, 2013 0 Comments
Super Tools & Calculators

Generally, you have to pay super for your employees if they: are aged between 18 and 70 are paid $450 (before tax) or more in a calendar month, and work full-time, part-time or on a casual basis. The minimum super amount you have to pay is 9% of each eligible employee’s earnings base. It’s important […]

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Co-contributions for the Self-Employed

Filed in Articles, Superannuation by on January 14, 2013 0 Comments
Co-contributions for the Self-Employed

The super co-contribution helps eligible individuals save for their retirement. If you are eligible and you make a personal superannuation contribution, to your fund or Retirement Savings Account (RSA) the Australian Government will also make a contribution. If you are self-employed, you may be eligible to receive the co-contribution from 1 July 2007. How do […]

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