Regardless of your age, do not leave your retirement planning until your 50’s and 60’s.

Did you know that in 2008 you could make a tax-deductible contribution to super of $100,000 and a non-concessional or non-deductible contribution to your superannuation fund of $150,000?           These generous contribution limits meant that you could spend your 30’s and 40’s financing the growth and development of your children, paying down your mortgage, and leave […]

Can an employer require an employee to be vaccinated?

For most employers, probably not. The Fair Work Ombudsman, however, states that there are ‘limited circumstances where an employer may require their employees to be vaccinated.’ These are: The State or Territory Government enacts a public health order requiring the vaccination of workers (for example, in identified high-risk workplaces or industries). An agreement or contract […]

Small Business – The end of JobKeeper

With JobKeeper coming to an end it is very important that small businesses review their projected income and anticipated expenses for at least the next six months. Small and medium-sized businesses are the employment powerhouse of the Australian economy, and the end of JobKeeper will have a substantial impact on most businesses, particularly small businesses. […]

Do you have an SMSF?

If so, please ensure that your 2020 SMSF Annual Return is lodged with the ATO on time. When you don’t lodge on time your superannuation fund may be unable to receive contributions until the paperwork is brought up to date. The ATO will change your superannuation status to ‘Regulation details removed’. The Australian Taxation Office […]

While interest rates are at a record low, retirees still have mortgage debt.

If you are a senior you may remember when interest rates were as high as 17% back in June 1987. Since 1987 we have seen interest rates continue to decline to our present-day record-low mortgage rate. Currently, home loan interest rates are less than 2.9% per annum.  When home loan interest rates decline it gives […]

Last chance to access your superannuation under Covid-19 early release legislation

As the end of the calendar year approaches so does the deadline for early access to your superannuation under the Covid-19 early access provisions.  Whilst the last day to access your superannuation under these provisions is 31 December 2020, the ATO has advised that should you wish to access your super pre-Christmas you will need […]