Australian Workers Waiting 11 Months for Unpaid Superannuation

Workers who lodge an unpaid superannuation related complaint with the Australian Tax Office (ATO) have to wait eight months on average for their case to be closed, and it’s a lag that the Government needs to address, politicians and super experts have warned. Over the duration of the 2021-21 financial year, the average time between […]

ATO Is Being Asked to Address “Super Rip-Off” Impacting Queensland Workers

A national body has asked the Australian Tax Office (ATO) and politicians to do something to overhaul super contributions in Queensland, as new research is showing that the state’s cumulative unpair super debt has climbed past $5 billion in recent years. According to Industry Super Australia’s (ISA) analysis of tax data, more than 570,000 Queensland workers […]

Superannuation Changes Announced In The 2021 Budget

This years Federal Budget consisted of a large number of significant changes being made to superannuation. If they are successfully passed by Federal Parliament, these changes are set to apply from the 1st July 2022 after the date they receive Royal Asset. 50 Percent Reduction In Minimum Pension Extended To 30th June 2022 Although this […]

One in Seven Australian Employees To Pay For Higher Super With Reduced Wages

More than one in seven employees across Australia have been informed that their extra superannuation payments will be deducted from their wages. This worrying figure, which occurs weeks after the superannuation guarantee (SG) increased from 9.5 to 10 percent of wages, has led to lawyers reminding Australians that most workers are legally allowed to receive […]

SME Tax Debts Reaches A Record $21 Billion

It can be revealed that, small and medium businesses across Australia owe a total of $21 billion to the ATO (Australian Tax Office). The figures were published according to new data compiled by the Inspector-General of Taxation and Taxation Ombudsman (IGTO). Despite this record figure, the large majority of small business owners have said that […]

Tips For Developing A Retirement Savings Plan

By being more strategic it is possible for Australian citizens to make the most of their assets to enjoy a fulfilling retirement. There is no exact magic amount of money to indicate how much all of us need to safely retire. The important thing is that you understand the sort of retirement lifestyle you hope […]

Important Information About The Superannuation Guarantee (SG)

For Australian workers the most common type of contribution regularly going into your super account is likely to be the Superannuation Guarantee – or SG for short – which is the contribution your employer is required to make into a super fund on your behalf. The SG is part of the remuneration you receive from […]

Millions of Australian Workers Set To Benefit From Increased Superannuation Payments

Millions of Australians are set to benefit from an increase to superannuation payments which came into effect on Thursday 1st July. The superannuation guarantee (SG) has been bumped up from 9.5 percent to 10 percent. This means workers set to receive more pay towards their retirement nest eggs. Industry Super Australia (ISA) says 6.7 million […]

Important Information About Tax Cuts And Super Changes Introduced on 1st July 2021

Tax relief for workers and businesses, higher superannuation payments and housing assistance for first home buyers are just some of the changes set to occur at the start of the new financial year on Thursday 1st July, as a number of measures from the 2021 federal budget come into effect. Arguably the most significant change […]

Important Information About Self-Managed Super Funds

The popularity of self-managed super funds has continued to rise since the global financial crisis (GFC) in 2008. The increasing lack of confidence in super fund managers in combination with the desire of wanting to be in control your own financial destiny has resulted in a huge rise in the number of Australians deciding to […]