by Financially Sorted | Oct 30, 2023 | ATO, Superannuation
Be careful – STP 2 and more sophisticated software enables the Australia Tax Office to monitor payments, month by month, & quarter by quarter. The ATO has now begun proactive action against employers who fail to pay super guarantee (SG) payments on time or...
by Financially Sorted | Oct 1, 2023 | SMSF, Superannuation, Tax Returns
Are you looking for ways to increase your retirement savings and reduce your tax? If so then, you are in luck. There are several ways you can contribute to your super, depending on your personal circumstances. Here is one way you can grow your super and access tax...
by Financially Sorted | Sep 1, 2023 | ATO, Property Investment, SMSF, Tax & Accounting
Once again, the ATO has targeted SMSF property development schemes that divert profits of a property development project to a SMSF. This time, the focus is on using a special purpose vehicle (SPV), which the SMSF directly or indirectly owns. It appears that some SMSF...
by kirstyb | Aug 7, 2023 | Superannuation
What are the Superannuation contribution Levels for 1 July 2023? The contribution levels for superannuation in Australia are subject to annual caps and limits set by the Australian Taxation Office (ATO). These contribution limits apply to both concessional...
by kirstyb | Aug 7, 2023 | Superannuation
In Australia, the age at which you can access your superannuation (retirement savings) depends on your “preservation age.” The preservation age is the minimum age at which you can access your superannuation, provided you have met a condition of release....
