‘Ace in the Hole’ Budget 2023-24
The ‘ace in the hole’ of the 2023-24 Federal Budget was the $4.2bn surplus; the first in 15 years. The surplus was driven by a surge in the corporate and…
The ‘ace in the hole’ of the 2023-24 Federal Budget was the $4.2bn surplus; the first in 15 years. The surplus was driven by a surge in the corporate and…
The 2023-24 Federal Budget will be released on Tuesday, 9 May 2023. Look out for our update the next day on the important issues to you, your superannuation and your…
In a very quick turnaround from announcement to draft legislation, Treasury has released the exposure draft legislation for consultation to enact the Government’s intention to impose a 30% tax on…
The general transfer balance cap (TBC) – the amount of money you can potentially hold in a tax-free retirement account, will increase by $200,000 on 1 July 2023 to $1.9…
A consultation paper released by Treasury has sparked a national debate about the role, purpose and access to superannuation ahead of the 2023-24 Federal Budget. What is the purpose of…
The Government has announced that from 2025‑26, the 15% concessional tax rate applied to future earnings for superannuation balances above $3 million will increase to 30%. The concessional tax rate…
From 1 January 2023, those 55 and over can make a ‘downsizer’ contribution to superannuation. Downsizer contributions are an excellent way to get money into superannuation quickly. And now that…
The value of cryptocurrency assets inside Australian self managed superannuation funds (SMSFs) increased by 589.9% ($1.17bn) between June 2019 and June 2022, according to the latest ATO statistics. While cryptocurrency…
There is nothing in this Budget that would create a UK style crisis. The stage 3 tax cuts legislated to commence on 1 July 2024 are not mentioned, and most…
Clients with self managed superannuation funds (SMSF) often ask what assets the SMSF can acquire. ‘Why’? The golden rule for acquiring assets inside your SMSF is why? To be compliant,…