Employers do not have to pay the 9.5 per cent superannuation guarantee to people who earn less than A$450 a month from one employer. Critics say this disadvantages low-income workers or people who work multiple jobs with different employers. Should the threshold be raised, or dropped altogether?
A paradox is emerging in Australian retirement: retirees aren’t spending, even when they can afford to do so.
Experts says cutting audits of self-managed super funds (SMSFs) to once every three years instead of annually is unlikely to cut either costs or red tape and could have serious consequences for the SMSF audit sector.
Baby boomers in Australia, the UK, the US and other Western nations are in a pickle. They're often cash-poor and living in a country with a high standard of living and prices to match. For some, retiring overseas is an option, but it pays to do your homework.
Practitioners should be fully cognizant of whether or not they hold a binding death benefit nomination on behalf of an SMSF member.
The 2018 Australian Federal Budget promises to strengthen the economy, create jobs and cut taxes. Treasurer Scott Morrison, who turns 50 this year, again tinkered with – or is it fine-tuned? – superannuation and retirement.
Why are some super funds struggling when funds are pouring into them all the time?
Since the removal of the accountants' exemption and the introduction of the limited Australian Financial Services (AFS) licence, accountants who provide self-managed superannuation fund (SMSF) services have taken a range of steps to adapt to the changes.
Changes to superannuation policies will take effect from July 2018, and the jury is out on whether they will help retirees wanting to downsize their homes.
The growth in self-managed superannuation funds (SMSFs) shows no signs of slowing, and as the number of funds approaches 600,000, regulators have had to prioritise and set criteria to monitor the sector.