As the festive season approaches, it’s natural to feel the pinch—extra gifts, extra meals, travel, and year-end celebrations all add up. For members and trustees of a Self-Managed Super Fund (SMSF), the message from the ATO is clear: don’t treat your super as a holiday fund. Why This Warning Matters. There are very limited circumstances…
Australia’s superannuation system is set for one of its biggest shake-ups in decades. The government’s “Payday Super” draft proposal aims to make super payments faster, fairer, and more transparent – but it also means significant changes for how employers handle payroll and compliance. Under the current rules, employers pay superannuation guarantee (SG) contributions quarterly. The…
When a relationship ends—whether it’s a marriage or a de facto partnership—there’s a lot to work through emotionally, practically, and financially. Among the assets that need to be considered is superannuation. While it’s often thought of as a “retirement-only” fund, super is treated as property under family law and can be divided when couples separate.…
Retirement doesn’t automatically mean freedom from tax obligations. While some retirees may no longer need to lodge a tax return, many still do – depending on their income sources. Let’s take a look at a breakdown of the rules around tax returns in retirement and what to watch for. Do You Have to Lodge a…
When it comes to retirement planning, there’s no shortage of advice — from rules of thumb like “you’ll need 70% of your pre-retirement income” to blanket strategies about when to downsize or how to invest. While these can be helpful starting points, the reality is that no two retirements look the same. Trying to apply…
Micro‑retirement is becoming a mainstream career trend — especially among younger generations — as a way to prevent burnout by taking purposeful breaks during one’s working life, rather than waiting until a traditional retirement at age 65. But while the benefits are real, this approach also carries financial and professional risks that need careful consideration.…
If you’re aged 55 or over and considering selling your family home, you may have a unique opportunity to boost your superannuation through what’s known as a downsizer contribution. This measure aims to provide greater flexibility in retirement planning while encouraging better use of housing stock across the country. Here’s what you need to know…
As interest in cryptocurrency continues to grow, an increasing number of self-managed super funds (SMSFs) are incorporating digital assets into their investment strategies. While the potential for high returns can be appealing, the world of crypto is still relatively new and comes with significant risks. For SMSF trustees, it’s essential to tread carefully and comply…
If you’re self-employed—whether you run your own business as a sole trader or operate within a partnership—you’re probably used to wearing many hats. From managing clients and keeping up with invoices to handling tax obligations, the to-do list never seems to end. But as we approach the end of the financial year (EOFY), one important…
The approach to the end of the financial year is a great time to review your superannuation strategy – especially if you haven’t used up your concessional (pre-tax) contribution caps in recent years. Thanks to the ATO’s carry-forward contributions rule, you may be able to boost your super and gain a tax advantage by topping…