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...
by Financially Sorted | Nov 25, 2024 | Superannuation
If you are aged 55 years or older, the downsizer contribution rules enable you to contribute up to $300,000 from the proceeds of the sale of your home to your superannuation fund (eligibility criteria applies). In 2023-24, over 57% of people making a ‘downsizer’...
by Financially Sorted | Sep 24, 2024 | Business, Small Business, Superannuation, Tax & Accounting
Beyond the emotional and financial turmoil that any divorce creates, there are a number of issues that need to be resolved. What happens when there is a family company? For couples that have assets tied up in a company, the tax consequences of any settlements paid...
by Financially Sorted | Jul 30, 2024 | Business, Economy, Finance, Interest Rates, Land Tax, Superannuation, Tax & Accounting, Tax Returns
Will 2024-25 be another year of volatility or a return to stability? Personal tax & super As you would be aware (at least we hope so after a $40m public education campaign), the personal income tax cuts came into effect on 1 July 2024. At the same time, the...
