With the new super stapling rule in effect from November 1, 2021, it’s important for employers to understand what this means and how to remain compliant. A stapled super fund is an existing super fund that is linked, or ‘stapled’ to an individual employee and follows them as they change jobs. A stapled super aims [...]
Downsizer Contributions – Get more into super when you sell your home! From 1 July 2018 the ATO introduced the downsizer superannuation contribution. For people who are 65 years or older and meet the eligibility criteria, you can choose to make a contribution up to a maximum of $300,000 (each) into your superannuation from the [...]
The ATO is in the process of sending letters to trustees if their SMSF is holding 90% or more of its funds in one asset or a single asset class. Lack of diversification can expose an SMSF and its members to unnecessary risk if a significant investment fails, which is why the ATO is [...]
