Jun 19, 2019 | Accessing Superannuation, Blog, Contributing to Super, Retirement Income Streams, Superannuation, Superannuation Tax
There are a number of ways to avoid tax in Australia. Some of them legal, some not-so. Most legal ways of avoiding tax involve you spending money and claiming a tax deduction for spending that money. However, I’m going to show you two ways to avoid tax without...
Jun 3, 2019 | Blog, Contributing to Super, Featured, Superannuation, Superannuation Tax
Excess superannuation contributions tax is payable on contributions that exceed the Non-Concessional Contributions Cap or the Concessional Contributions Cap. The rate of Excess Contributions Tax that is payable on Excess Contributions is dependent on the type of...
Jan 9, 2019 | Blog, Contributing to Super, Retirement Income Streams, SMSF, Superannuation, Superannuation Tax
This is an example of what superannuation is and the superannuation rules. To provide you with an example of superannuation, it is important to first understand why superannuation exists. First and foremost, superannuation is a place that you invest your savings. The...
Dec 18, 2018 | Blog, Contributing to Super, Superannuation, Superannuation Tax
The SGC contribution cap can refer to the concessional contribution cap or the SGC maximum contribution base. Either way, both SGC contribution caps will be addressed below. The SGC contribution caps are important because they determine the level of SGC...
Nov 21, 2018 | Blog, Contributing to Super, SMSF, Superannuation, Superannuation Tax
The definition of a concessional contribution is a contribution made to superannuation where a tax deduction has been claimed in respect of the contribution. The level of concessional contributions that can be made into your super account is limited. It is the...
Nov 20, 2018 | Accessing Superannuation, Blog, Contributing to Super, Superannuation, Superannuation Tax
Excess non-concessional contributions tax is payable when a superannuation member exceeds the non-concessional cap. A non-concessional contribution is a contribution made to superannuation with after-tax savings. Non-concessional contributions are generally made from...
Oct 4, 2018 | Blog, Contributing to Super, SMSF, Superannuation, Superannuation Tax
Is salary sacrifice concessional or non-concessional? This is an important question to determine the benefits of you making salary sacrifice contributions to superannuation and which contribution cap to count it towards. Salary sacrifice contributions to super is an...
Jul 4, 2018 | Blog, Contributing to Super, Superannuation
Requesting the SGC Superannuation Fund phone number is common amongst employees all over Australia. It is actually difficult to find the SGC Superannuation Fund phone number. SGC stands for Superannuation Guarantee Charge. It is common that SGC is noted on a payslip...
Feb 4, 2017 | Accessing Superannuation, Blog, Contributing to Super, Retirement Income Streams, Superannuation, Superannuation Tax
There are a variety of taxes that apply to superannuation. These taxes apply in many different situations and at differing rates. This article attempts to provide you with a brief description of each tax and how it may apply. The main idea of superannuation is to...
Jan 25, 2017 | Blog, Contributing to Super, Featured, Superannuation
The maximum superannuation Concessional (deductible) Contribution cap has been reducing quite steadily over the years. In the 2016/2017 financial year, the Concessional Contribution cap is $35,000 for individuals aged 49 years or over and $30,000 for those under age...