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Superannuation

Superannuation Announcement
Business

Superannuation Announcement

With yesterday’s announcement of the AWOTE (Average Weekly Ordinary Time Earnings) figure for the December 2020 quarter, the super contributions caps are set to increase from 1 July 2021 as follows: Concessional cap increases from $25,000pa to $27,500pa Standard NCC (non-concessional contribution) cap increases from $100,000pa to $110,000pa Max NCC […]

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Tax-effective ways to boost your super
Financial Planning

Tax-effective ways to boost your super

After a year when the average superannuation balance fell slightly or, at best, moved sideways, the summer holidays could be a good opportunity to think about ways to rebuild your savings while being mindful of tax. With the Reserve Bank reducing interest rates to record lows and not anticipating a […]

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Making your savings work harder
Investing

Making your savings work harder

With tax cuts and stimulus payments on the way, Treasurer Josh Frydenberg is urging us to open our wallets and spend to kick start the national economy. But if your personal balance sheet could do with a kick along, then saving and investing what you can, also makes sense. One […]

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Big Four Banks and QSuper leaving the party?
Retirement Planning and Superannuation

Big Four Banks and QSuper leaving the party?

2020 has been a year like no other. A global pandemic, Australia’s first recession in nearly 30 years, record low interest rates, volatility in both shares and property markets, and even job security is coming into question. For retirees it can be a very daunting process.    The Big Four […]

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Super changes add flexibility
Coronavirus

Super changes add flexibility

Just when you thought you had a grip on the superannuation rules, they change again. This time though, the changes are mostly positive, especially for older super members keen to top up their savings. From 1 July 2020, changes came into effect with the potential to help retirees as well […]

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How COVID-19 changes tax time
Uncategorised

How COVID-19 changes tax time

As this financial year draws to a close, it will be viewed as a year like no other. COVID-19 (coronavirus) has impacted everybody’s life, albeit in different ways for different people. For some, staying at home has meant you have greater savings; for others, the virus has meant lower wages […]

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End of Financial Year checklist
Finances

End of Financial Year checklist

It always takes some planning to get your finances in order for the end of financial year, and this year may look a little different, come June 30. The COVID-19 pandemic may have impacted your circumstances and therefore your situation could be looking different to normal.  Perhaps you have been […]

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Withdrawing Super: what to consider
Coronavirus

Withdrawing Super: what to consider

The federal government has been releasing details of financial support available to Australians who have lost income due the economic impact of the COVID-19 pandemic. A huge number of us have been affected in some way and many have been left feeling stressed and confused about what to do to […]

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Temporary Access to Super
Superannuation

Temporary Access to Super

As part of the measures taken by the government to support those impacted by COVID-19 some people will be able to access up to $10,000 of their super between now and 1 July 2020, with a further $10,000 in the first three months of the 2020-21 financial year, tax Complimentary. […]

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Coronavirus Safety Net Expanded: What does it mean for you?
Age Pension

Coronavirus Safety Net Expanded: What does it mean for you?

In a rapidly evolving response to the spread of COVID-19, the Federal Government’s second support package announced over the weekend has flicked the switch to more income support for retirees and workers. Between the first $17.6 billion package announced on March 12, and this latest $66.1 billion package, the emphasis […]

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Hatching your nest egg early
Financial Planning

Hatching your nest egg early

The summer bushfires have touched the lives of all Australians. For individuals who lost homes, businesses or livelihoods, the financial hardship lingers, prompting many to ask whether they can dip into their super to tide them over. The short answer is generally no. According to the Australian Taxation Office (ATO), there are […]

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