by Ben Smith | Apr 20, 2022 | Accounting & Audit, Business Intel, Featured, SMSF Specialists
Two landmark cases before the High Court highlighted the problem of identifying whether a worker is an independent contractor or employee for tax and superannuation purposes. Many business owners assume that they will not be responsible for PAYG withholding,...
by Ben Smith | Mar 31, 2022 | SMSF Specialists
In Australia, it is estimated that around 300,000 young, part-time, mostly female workers currently and legally do not receive super contributions from their employers under the super guarantee scheme. This is due to their before-tax earnings per month falling below...
by Ben Smith | Mar 16, 2022 | Financial Planning, SMSF Specialists
By Thomson Reuters Tax & Accounting More people will soon be able to make up to $300,000 in downsizer contributions into super with the lowering of the age limit to include those 60 years and over from 1 July 2022. Before this date, only those aged 65...
by Ben Smith | Mar 16, 2022 | SMSF Specialists
By Thomson Reuters Tax & Accounting The maximum amount individuals can take out of their super under the First Home Super Saver Scheme will be increased from $30,000 to $50,000 for any release requests made on or after 1 July 2022. Initially, the scheme was...
by Ben Smith | Mar 16, 2022 | SMSF Specialists
By Thomson Reuters Tax & Accounting Individuals aged between 67 and 75 will be able to make non-concessional, and salary sacrificed contributions without the need to pass the work test or satisfy the work test exemption criteria from 1 July 2022. The...
by Ben Smith | Feb 16, 2022 | SMSF Specialists
Federal Parliament has recently passed legislation that will implement a number of measures which will improve the flexibility and equity of the superannuation system, assist first home buyers, and also reduce costs and complexity for self-managed superannuation...
