Oct 2, 2023 | Blog, Contributing to Super, SMSF, Superannuation, Superannuation Tax
Can I put redundancy into super? This is a good question and important to understand. Making contributions to superannuation can provide you with tax concessions and may result in you effectively paying less tax on your redundancy payment. Rolling a redundancy payment...
Jul 6, 2021 | Blog, Contributing to Super, Superannuation, Superannuation Tax
There are a number of risks and disadvantages of salary sacrificing into superannuation. Understanding the disadvantages of salary sacrifice is important before using this strategy to save towards retirement. The risks and disadvantages associated with a salary...
Apr 12, 2021 | Blog, Contributing to Super, Superannuation
If you are an employee, it is likely that you receive a payslip each pay period and might be wondering what the term SGC means on your payslip. SGC or SG stands for Superannuation Guarantee contributions. Superannuation Guarantee contributions are compulsory...
Jan 17, 2021 | Blog, Contributing to Super, Superannuation, Superannuation Tax
There are a number of advantages and disadvantages of non-concessional contributions. These benefits and downsides of non-concessional contributions need to be considered prior to making any contributions to superannuation. There are two types of contributions that...
Dec 9, 2020 | Blog, Contributing to Super, Superannuation
Detailed below is an example of the maximum superannuation contribution base. The maximum super contribution base limits the level of SG contributions required to be made by an employer on behalf of an employee. The maximum super contribution base example below...
Dec 8, 2020 | Blog, Contributing to Super, Superannuation
The maximum superannuation contribution base refers to the quarterly wage earned by an employee that the employer is required to pay Mandatory Superannuation Guarantee (SG) payments on. The Superannuation Guarantee Levy is the compulsory superannuation contribution...
Aug 2, 2020 | Blog, Contributing to Super, Insurance in Super, Superannuation
Catch-up super contributions relate to the concessional contribution cap. A concessional contribution is defined as a contribution where the contributor claimed a tax deduction for making the contribution. The amount of concessional contributions that can be made each...
Oct 7, 2019 | Blog, Contributing to Super, SMSF, Superannuation
The SGC age limit refers to the age of an employee who is eligible to receive mandatory employer super contributions. Superannuation Guarantee Contirbutions (SGC) are required to be paid by an employer into an employee’s super account. SGC must be paid by the...
Jun 19, 2019 | Accessing Superannuation, Blog, Contributing to Super, Retirement Income Streams, Superannuation, Superannuation Tax
There are a number of ways to avoid tax in Australia. Some of them legal, some not-so. Most legal ways of avoiding tax involve you spending money and claiming a tax deduction for spending that money. However, I’m going to show you two ways to avoid tax without...
Jan 9, 2019 | Blog, Contributing to Super, Retirement Income Streams, SMSF, Superannuation, Superannuation Tax
This is an example of what superannuation is and the superannuation rules. To provide you with an example of superannuation, it is important to first understand why superannuation exists. First and foremost, superannuation is a place that you invest your savings. The...