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Next financial year is also shaping up as a big one for super, with most of the changes announced in the May federal Budget expected to start on 1 July 2022. The Budget included proposals to: repeal the work test for people aged 67 to 74 who want to contribute to super reduce the minimum [...]

Every accountant knows that reviews or audits of your client’s tax returns or financial compliance obligations can sometimes be unavoidable. When an audit hits, this is rarely a reflection of the work put into preparing the return and is more often due to a specific crackdown by the Australian Taxation Office (ATO) or other State [...]

As the new financial year gets underway, there are some big changes to superannuation that could add up to a welcome lift in your retirement savings. Some, like the rise in the Superannuation Guarantee (SG), will happen automatically so you won’t need to lift a finger. Others, like higher contribution caps, may require some planning [...]

If your super could do with a boost and you have cash to spare, now is the time to check whether you are making the most of the contribution strategies available to you. You can make tax-deductible contributions up to $25,000 a year, including Super Guarantee payments by your employer. You can also contribute up [...]

The past 12 months have been a challenging time for many of us on a personal level, with the pandemic having a far-reaching impact on so many aspects of our lives. While the Australian economy is proving remarkably resilient, personal finances have been affected in different ways by lockdowns and government initiatives put in place [...]