Earlier in the year we announced the changes to insurance in super that took place from 1 July 2019. They formed part of the government’s ‘Protecting Your Super’ (PYS) package which aims to protect super savings from being eroded by fees and charges. New legislation recently passed in September 2019 introduce new changes to insurance […]
ATO to transfer inactive super balances from 1 Nov 2019
ATO is about to transfer any inactive super balances commencing 1 November 2019. If you have lost superannuation floating around from previous jobs that you’ve perhaps forgotten about or simply haven’t had the time to transfer, the Australian Taxation Office is about to do the work for you. ATO will reconcile inactive super balances with […]
The What, Why, When, on Negative Interest Rates in Australia
According to government data, the Australian economy has been sluggish for some time now. The Reserve Bank of Australia (RBA) has cut interest rates 3 times this year to historic lows in an effort to improve the rate of growth in our economy. More recently, the RBA announced that they are considering alternate strategies to […]
Superannuation Changes from 1 July 2019
A number of superannuation changes takes effect from 1 July 2019. What are they and how might this affect you? Read below to find out. Carry-forward concessional contributions The 2018-19 concessional contributions were capped at $25,000. If you didn’t use all $25,000, you are now able to ‘carry-forward’ the unused concessional contribution amount into your […]
Changes to insurance in super from 1 July 2019
You might have received a letter recently about changes to insurance in a super account you have forgotten entirely about. All super funds are required to send you a notice due to changes to insurance in super from 1 July 2019. Nearly all superannuation accounts have life insurance by default. Life insurance costs money […]