Changes ahead for inactive super accounts: are you affected?

(10/05/2019) Got an old super fund account you haven’t touched for years? New rules mean “inactive” accounts (ie no contributions or rollovers for 16 months) will lose their insurance coverage from 1 July 2019 – unless you want to keep your insurance and take action now. Low-balance accounts may even be transferred to the ATO […]

Getting your small business ready for STP reporting

(17/05/20019) Have you sorted out Single Touch Payroll (STP) arrangements for your small business? If not, it’s time to get cracking! From 1 July 2019, STP reporting will become mandatory for all employers, including small businesses (ie those with fewer than 20 employees) that have previously been exempt. The ATO has set a three-month transition […]

What does “retirement” mean for super access purposes?

(03/05/2019) Did you know that if you’re aged between 60 and 64, you can access your super if you change jobs – without retiring permanently? The rules about when you can access your super on “retirement” grounds vary depending on your age. Find out exactly what’s required for your age group. Under preservation age: Before […]

26/04/2019: Budget 2019: Superannuation measures for over-60s

Although the Coalition did not announce any major reforms to superannuation in this year’s federal Budget, it did pledge to help Australians aged over 60 save for retirement by extending the age limits for a number of existing contributions measures. A returned Coalition government would give retirees an extra two years to make contributions without […]

Compulsory super: How can you speed up your retirement savings?

(18/04/2019) The compulsory superannuation guarantee (SG) rate – currently 9.5% – is set to increase over the next few years. But if you’re an employee, will relying on compulsory employer contributions be enough to meet your retirement goals? There are many steps that workers can take to boost their retirement savings. SG contributions are the […]