Australians are being urged to check their superannuation accounts after the Australian Taxation Office (ATO) revealed that the total amount of lost and unclaimed super has surged to $18.9 billion, up $1.1 billion since 2024. This staggering figure highlights the importance of staying on top of your super to ensure...
A new financial year – a new start
A new financial year – a new start As we approach the start of the 2024/25 financial year on July 1, 2024, there are several important considerations for us as individuals. Let’s explore six key financial aspects to keep in mind: 1. Set clear financial goals Begin by defining your...
Extension of the temporary reduction in pension minimum drawdown rates
The Government has announced an extension of the temporary reduction in superannuation minimum drawdown rates for a further year to 30 June 2022. While not everyone will be in a position to do this, it may be helpful for retirees who want to conserve their assets and don’t require all of...
Employers granted one-off super amnesty
Employers who have underpaid their staff superannuation have been granted a one-off amnesty to make things right, but that doesn’t mean they’re completely ‘off the hook’. The Treasury Laws Amendment (Recovering Unpaid Superannuation) Bill 2019, which just passed federal parliament, encourages employers to come forward and pay any unpaid superannuation in...