by Team Garnet | May 19, 2021 | Insurance, Superannuation
It is estimated that around 70% of Australians with life insurance hold it through their super fund. Having insurance through your super fund is tax-effective and has various advantages such as having cheaper premiums and usually having fewer health checks. Most funds...
by Team Garnet | May 4, 2021 | Garnet Business Services, Superannuation, Tax News
Did you know you can boost your super with a co-contribution from the government? If you’re a low or middle-income earner, you can take advantage of the government super co-contribution scheme to boost your super. The scheme works like this, for eligible individuals,...
by Team Garnet | Apr 14, 2021 | Superannuation
Do you know what happens with your superannuation funds if you pass away before using them? While we’re dutifully putting money into our super in the hopes of making our retirement more comfortable, many of us have not considered the possibility that we may not be...
by Team Garnet | Mar 10, 2021 | Business Structures, Small Business, Tax News
Tax planning or tax avoidance? Do you know the difference? While tax planning is a legitimate and legal way to arrange your financial affairs to keep your tax to a minimum provided you make the arrangements within the intent of the law. Any tax minimisation schemes...
by Team Garnet | Feb 24, 2021 | Superannuation, Tax News
From 1 July 2021, the general pension transfer balance cap will increase from $1.6m to $1.7m due to indexation. “Indexation is a technique to adjust income payments by means of a price index, in order to maintain the purchasing power of the public after...
