#Super
Payday Super: What happens when you overpay, miss the window or get a payment rejected
The ATO has published detailed guidance on how Payday Super works in practice, including what happens to overpayments, rejected contributions and late payments.
Five steps every small business owner should take before Payday Super hits
Payday Super lands July 1, and the quarterly cash flow buffer businesses rely on goes with it. Sharon Williams discusses the five steps you should take now.
The clock is ticking on Australia’s biggest super shake-up in decades
Insolvency specialists are warning that Payday Super won’t create new business failures, but it will bring them forward.
NAB facing potential super class action
NAB faces potential class action proceedings over excess superannuation fees levied by its wealth arm. William Roberts Lawyers is inviting MLC Super fund customers to sign up to the no-win, no-fee action, which is backed by litigation funder IMF Bentham and will seek compensation plus interest for the excess fees. The action will allege that, […]
Why do major companies keep getting caught in employee underpayment scandals?
Every few months sees a major employee underpayment scandal – companies announcing that they have made payroll errors that have impacted thousands of employees – go public. Examples are the $43 million error by Rebel Sport this year, the $2 million error by Lush Cosmetics last year, the $1 million in underpayments by Maurice Blackburn […]
Review your industry, socialise (in the real-world) and other ways to get an EOFY leg-up
The phrase ‘tax time’ can all too easily translate to feelings of boredom, dread and uncertainty for the small business owner. There’s the income tax return, BAS, payroll tax, super, and more. However, instead of viewing the annual marker as a time-sapping and difficult box-checking exercise, it should be seen as a spring board to […]
Aussies lack professional advice when switching superannuation
Only 35.4 per cent of Australians sought the advice of a professional, such as an accountant or financial planner, when deciding to change superannuation providers.
Top high-income couples expected to earn $5 million from super tax breaks
The top 1 per cent of Australia’s high incomes couples set for retirement in 2055 will be receiving over $5 million in government assistance, according to estimates revealed by Industry Super Australia (ISA).
ATO extends SuperStream compliance date for medium and large businesses
Medium and large-sized businesses now have more time to ensure they are SuperStream compliant after the ATO extended the June 30 due date.
No super policy change will affect the retirement of 50% of Aussies: ISA
In its submission to the Tax Review, Industry Super Australia has forecast that close to 50 per cent of Aussies retiring from now to 2055 will not have the income necessary for a comfortable retirement.
Key steps for complying with new SuperStream superannuation regime
Australian firms need to ensure payroll systems are up-to-date and supported by providers ahead of looming SuperStream deadlines.
Call for banks to be penalised for offering business super deals
Industry Super Australia is calling for banks to be penalised for offering business banking deals aiming to see employers switch their employees’ superannuation contribution to bank-owned funds.
SMSFs remain the most popular fund type
SMSFs continue to be the most popular type of fund in terms of satisfaction with financial performance, according to the latest findings from Roy Morgan Research.
SMSF set-ups rising
More Australian small business owners are opting to take on self-managed super funds.
What you need to know about changes to super (part 2)
This is the second instalment of a three-part series about upcoming changes to superannuation.
What you need to know about changes to super (part 1)
As a business owner, you are probably aware that there are some changes planned to superannuation and the minimum requirements paid to employees. However, do you know exactly what they are, and how they will affect your business?
Fluctuating share market limits super fund returns
Median superannuation fund growth retreated 0.2 percent due to faltering share markets in May this year, but the news isn’t all bad with the return to date for the financial year reaching 10 percent.
Six hot tips to super size your superannuation
Did you know that if you don’t manage your superannuation properly now, you could end up living below the poverty line later in life?
Support for 12% Superannuation Guarantee ‘almost universal’
The Federal Government’s proposed increase in the Superannuation Guarantee from 9 to 12 percent has ‘almost universal support’ from Australians a poll commissioned by ASFA concludes.
Superannuation funds down in April (slightly)
Superannuation funds were slightly down in April, by a negligible 0.1 percent, following the mixed performance of global share markets due to the Greek sovereign debt crisis.
March 2010 Superannuation data positive
Barring a shock collapse in world sharemarkets, superannuation fund members can look forward to a positive return this financial year – the first time since 2006/07.
Financial advisers to be banned from taking commissions
Financial advisers may be banned from charging commissions on investments and pension sales, under recommendations contained in the Cooper Review of superannuation.
Superannuation grows 20.4% to February
This month marks one year from the depth of the financial crisis, and demonstrates the value of taking a long-term view of investment markets. After another positive month in February, the median superannuation growth fund has returned a satisfying 20.4% for the past year.
Cbus and Connect industry super funds merge
One of Australia’s largest industry superannuation funds Cbus has agreed to merge with Connect, and will have almost $15 billion in assets under management.