Superannuation

September 29, 2021

Last updated 23 September, 2021 Clients, please be aware all MYOB products are currently incompatible with the soon to be released Microsoft Windows Server 2022, Windows 11 and Office 2021 software. If you run MYOB products on your computer and...

September 24, 2021

Congratulations to Katie Kelly having returned from the Tokyo Paralympics in August, 2021, coming in at an impressive 6th place! Katie is a client of R&M, Paralympic Gold Medallist (Rio de Jeneiro 2016), 2 x times World Champion, and...

September 19, 2021

17 September 2021 Employers beware, from 1 November 2021, if you’re hiring new employees, there may be an extra step involved in determining which super fund employee contributions need to be paid into. Currently, when a new employee starts a...

September 3, 2021

27 August 2021 Individuals who exceed the high income threshold of $250,000 may be subject to Div 293 tax on their concessional super contributions. In effect, this tax means the effective contributions tax on concessional contributions doubles from 15% to...

September 3, 2021

3 September 2021 2021 marks the beginning of annual APRA performance tests on MySuper products. The requirement was introduced as part of the government’s Your Future, Your Super reforms and is aimed at holding funds to account for underperformance and...

July 29, 2021

From 1 July 2021, the rate of super guarantee increased from 9.5% to 10%, businesses using manual payroll processes should be careful that this change doesn’t lead to unintended underpayment of super which may attract penalties. The rate you...

September 15, 2020

A recent ATO private ruling considered the implications of withdrawing superannuation when a member is terminally ill. Before passing away, the deceased gave instructions to the trustee to withdraw her entire balance from superannuation. Her superannuation consisted of a term...

February 10, 2020

One of the key topics covered at the 2020 Tamworth Business Summit is "future proofing your business" and Paul Williams from our Specialist Tax & Estate Planning (STEP) team and Financial Planner, Kylie Alcorn will be presenting workshops at...

July 8, 2019

From 1 July 2018, individuals with total superannuation balances below $500,000 have been allowed to carry forward the unused portion of their Concessional Contribution cap for up to 5 years (rolling period). Examples of concessional contributions are employer superannuation...