by Financially Sorted | May 8, 2025 | SMSF, Superannuation
Employers Be Aware – SG Contribution Levels Are Rising The minimum SG rate you must pay for each eligible employee from 1 July 2024 was 11.50% of their ordinary time earnings (OTE). This is legislated to increase to 12% on 1 July 2025. History of the SGC...
by Financially Sorted | Apr 23, 2025 | Business, Small Business, Superannuation
Draft legislation that will require super to be paid at the same time as wages has now been released for consultation. According to the Government, the legislation for payday super will aim to substantially reduce the billions of dollars in unpaid superannuation every...
by Financially Sorted | Apr 1, 2025 | ATO, Business, Government Legislation, Superannuation, Tax & Accounting
With a federal election set for 3 May 2025, there are many issues we all need to consider including interest rates, cost of living, immigration numbers and the future direction of the country. Two other key issues to be aware of are the controversial removal of GIC...
by Financially Sorted | Mar 17, 2025 | Superannuation
The Government has announced its intention to introduce mandatory standards for large superannuation funds to, amongst other things, deliver timely and compassionate handling of death benefits. When you die, your super does not automatically form part of your estate...
by Financially Sorted | Mar 3, 2025 | Superannuation
The amount of money that can be transferred to a tax-free retirement super account will increase to $2m on 1 July 2025. The transfer balance cap – the amount that can be transferred to a tax-free retirement account – is indexed to the Consumer Price Index (CPI)...
by Financially Sorted | Feb 10, 2025 | SMSF, Superannuation
Superannuation – what lies ahead in 2025? There are certainly a few big-ticket items causing quite a stir in the world of Superannuation. $3m Super Cap – Division 296 Fortunately, the proposals around the Division 296 “$3m super cap” didn’t get passed...
