Posts Tagged "superannuation"
Posted on July 7th, 2016 by WLF
A reduction in concessional contribution caps, the lowering of the Division 293 tax threshold, capping tax-free assets in retirement and a lifetime limit for non-concessional contributions are just some of the changes that were in the Budget announcements this year to impact superannuation. These changes may impact your SMSF and retirement planning and require you to reassess your existing strategies or contemplate new ones.
The key changes proposed for superannuation:
1. Introducing a lifetime cap for non-concessional contributions
The Government is proposing to in…
Posted on April 7th, 2016 by WLF
SuperStream is a compulsory Federal Government initiative that standardises the way employers will pay super contributions, and provide information about those contributions.
Under SuperStream employers will be required to report employees’ contributions electronically to the funds and pay those contributions electronically through the banking system.
This means that payment by cheque and advising contributions on paper forms will be phased out.
The start date for meeting the SuperStream requirements for small employers (19 or fewer employ…