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 […]
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 […]
Royal Commission Key Recommendations & Our Thoughts
Commissioner Kenneth Hayne has released the final report to last year’s 68 days of hearing where the banking, superannuation and financial services sector came under the spotlight for misconduct. Hayne’s final report included 76 recommendations, most of which the Morrison government and Labor say they will support and implement. Here are some of the key […]