We’ve all heard of salary sacrifice—but what does it mean when it comes to your super? It means contributing extra to your super, on top of what your employer already does, in before-tax dollars. Salary sacrifice payments—classified as concessional contributions because a lower tax rate applies—enable you to keep more of your money so your […]
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From 1 July 2014, the superannuation contribution caps have increased, allowing an opportunity to place more money in superannuation going forward. The contribution caps control the amount you can place into superannuation each year without facing penalty tax. If you are at least 50 you have higher contribution caps. There are two contribution caps – […]
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We have created a series of three videos to help you locate your superannuation online, using a set of tools that have recently become available online from the Australian government and Taxation Office. Find Your Superannuation Part 1 Set up your myGov online profile Get access into the Australian Taxation Office (ATO) online portal Find […]
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By David Baruffi, DipFP B.Ec MTax, CERTIFIED FINANCIAL PLANNER®, Director, Blueprint Wealth There have been repeated calls from the Government and superannuation industry about the advantages of consolidating your super funds. The bulk of the discussion centres on the saving of fees when moving your super funds from a number of funds into one fund. […]
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