by Investment Plus Accounting Group | Dec 13, 2023 | Retirement Planning, SMSF, Superannuation
For many people, super is one of the best ways to grow your wealth, as it provides significant tax concessions to help you save for retirement. Downsizer contributions are a valuable way to boost your super as you approach retirement. What is super? Superannuation is...
by Investment Plus Accounting Group | Oct 18, 2023 | Retirement Planning, SMSF, Superannuation
Retirement may be the end goal for most Australians but with it comes the fact that you will no longer receive a regular income. The Australian Government has implemented many measures to encourage people to plan for their eventual retirement; the biggest being the...
by Investment Plus Accounting Group | Jul 11, 2023 | EOFY, Government Grants, Government Support, Superannuation, Tax & Accounting
The start of each financial year usually brings with it a host of tax changes that SMEs need to be aware of, as well as a range of other regulatory changes that affect large sections of the Australian business community. From an increase in the national minimum wage...
by Investment Plus Accounting Group | Jun 8, 2023 | How To, Income Tax, Superannuation, Tax & Accounting, Tax Refunds
Did you know that you can make a concessional superannuation contribution and get $5000 or more as a tax refund this year? Super concessional contribution caps There is a limit on how much you can put into super each year from your pre-tax income. Such contributions...
by Investment Plus Accounting Group | Apr 17, 2023 | ATO, Business, How To, Superannuation, Tax & Accounting
The ATO has recently reported there is now $16 billion in lost and unclaimed super across Australia, and is urging Australians to check their MyGov account to see if some of the money is theirs. Super becomes “lost super” when it’s still held by the fund but the...
by Investment Plus Accounting Group | Mar 23, 2023 | Retirement Planning, SMSF, Superannuation, Wealth Creation
Future earnings for super balances above $3m taxed at 30% from 2025-26 The Government has announced that from 2025‑26, the 15% concessional tax rate applied to future earnings for superannuation balances above $3 million will increase to 30%. The concessional tax...
