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As we enter the final week of the financial year, here are some things to consider when it comes to your superannuation.
As the financial year concludes, businesses should engage in tax planning. This can maximise tax efficiency and minimise liabilities. Now is a valuable time investment with practical tax planning considerations available.
The new superannuation contribution caps introduced from 1 July 2024 have provided the opportune time for taxpayers to strategise on how they can maximise their superannuation.
The Treasury Laws Amendment (Better Targeted Superannuation Concessions and Other Measures) Bill 2023 and the Superannuation (Better Targeted Superannuation Concessions) Imposition Bill 2023 were introduced in the Parliament of Australia yesterday, 30 November 2023.
The controversial Treasury Laws Amendment (Better Targeted Superannuation Concessions) Bill 2023 was released on October 3 for consultation to enact changes to superannuation tax concessions.
A new financial year brings superannuation changes, and with it comes opportunities to strategise how you can increase your retirement wealth. We summarised the superannuation changes that you should be aware of from 1 July 2023.
The cap on the amount of superannuation benefits that can be transferred into retirement pension phase (known as the Transfer Balance Cap) having been recently increased by indexation to $1.9m from 1 July 2023 and all Self-Managed Superannuation Funds (SMSF) with members in the retirement phase will be required to report certain events that affect their members’ Transfer Balance Accounts (TBA) on a quarterly basis from 1 July 2023.
As we enter the New Financial Year, it should be seen as an opportunity for you to consider family wealth goals in your Family Office for 2024. How can you structure your investments to ensure it is tax effective, assets are protected, and your goals can be achieved?
With just under four weeks until the End of Financial Year (EOFY), climbing interest rates and uncertainty ahead, what can family businesses do to be prepared?
As we approach the Federal Budget on 9 May, we share our insights on the implications of the Government’s recently announced Better Targeted Superannuation Concessions.
As a Trustee (the person who manages the fund) you have many obligations you must adhere to once your self-managed super fund (SMSF) is setup.
At Grant Thornton, we offer a National Superannuation team to support you and your family with the accumulation phase right through to retirement.