Superannuation

Thumbnail image for Can We Fix It? Yes, we can!
By September 20, 2011

Exciting news this week with the much-anticipated self-managed super fund (SMSF) draft ruling from the ATO, SMSFR 2011/D1.  Many people are probably aware by now that you can borrow and purchase properties within a SMSF (we’ll post more on this in coming weeks). What hasn’t always been clear are some ...

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Thumbnail image for Don’t Miss Out on the Co-Contribution
By June 18, 2011

Did you know that only one in five taxpayers who meet the eligibility criteria for the super co-contribution actually make a personal contribution in order to receive the additional government payment. The super co-contribution is a Government initiative to help low to middle income earners save for their retirement. You ...

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Thumbnail image for Government Clarifies RESC Definitions
By May 27, 2011

Australians receiving government financial assistance will no longer need to worry that additional superannuation contributions, prescribed by law or the rules of their super fund, will be considered when determining their eligibility to receive that financial assistance. The Assistant Treasurer and Minister for Financial Services and Superannuation, Bill Shorten, today ...

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Thumbnail image for Super Savings Hit $1.23 Trillion
By January 20, 2011

Yesterday APRA released it’s Annual Superannuation Bulletin for the 2010 financial year.  According to the report, total superannuation assets increased by 13.9 per cent during the year to $1.23 trillion.   Where is this trillion bucks?   Well, $722.6 billion are held by APRA-regulated super entities and $390.9 billion are held by self ...

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Thumbnail image for APRA releases annual superannuation figures to 30 June 2009
By February 11, 2010

The Australian Prudential Regulation Authority (APRA) has released its Annual Superannuation Bulletin for the financial year to 30 June 2009.  Total superannuation assets fell during the year by $66.4 billion, or 5.8 per cent, to $1.07 trillion. Small funds, which have fewer than five members, were the only funds to ...

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Thumbnail image for SMSFs – On the ATO Radar?
By December 30, 2009

Thumbnail image for SMSFs – On the ATO Radar?

The ATO will be conducting audits of SMSFs in 2009/10.  Recently, the ATO has released various material regarding SMSFs.  Taxpayers should be aware of this material and the possible implications for their SMSF.  The hot topics on the ATO’s radar at the moment include: PAYG obligations – where a benefit ...

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Sydney man sentenced on early access to super charges
By September 15, 2009

ASIC Media Release Mr Gerard Karl Little, of Castlecrag, New South Wales, has been sentenced today in the District Court of New South Wales by Judge Williams to two years imprisonment, to be released after eight months, for unlawfully allowing the early access of superannuation benefits. Mr Little’s release is ...

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