by Team Garnet | Apr 13, 2022 | Investments, Money, Superannuation
The maximum amount that first home buyers can take out of their super under the FHSS scheme will be increased to $50,000 from 1 July 2022. Cost of living pressures coupled with high house prices means that many people in Australia are finding it increasingly difficult...
by Team Garnet | Mar 31, 2022 | Money, Small Business, Superannuation
From 1 July 2022, the minimum threshold at which an employer has to pay super under the super guarantee scheme will be removed. How will it benefit you? Low-income employees should rejoice that the minimum threshold at which an employer has to pay super under the...
by Team Garnet | Mar 17, 2022 | Superannuation
The downsizer age limit will be lowered from 1 July 2022. If you’re thinking of downsizing, you can boost your super at the same time. To help those nearing retirement boost their super balances, those aged 65 and over are able to make downsizer contributions of up to...
by Team Garnet | Feb 4, 2022 | Business Structures, Small Business, Superannuation, Tax News
Is your business is offering rewards or incentives to your employees and/or the general public to get Covid-19 vaccination or the booster? There may be tax consequences. With most of Australia and the world still in the grips of the COVID-19 pandemic, many businesses,...
by Team Garnet | Nov 18, 2021 | Superannuation
Changes to the work test, downsizer contributions, first home super saver scheme, and the minimum threshold for super guarantee has been introduced. How will these changes to super affect you? The government has recently introduced a raft of superannuation and related...
by Team Garnet | Oct 14, 2021 | Superannuation
The ATO has announced the extension of various COVID-19 relief for SMSF trustees to the 2021-22 financial year. Due to the ongoing economic impacts of COVID-19 on large parts of Australia, in particular, those States and Territories which have had to endure lengthy...
