Our latest insights

Following the Government’s announcement on 28 February 2023 regarding a reduction in tax concessions for superannuation balances over $3 million, we discuss what has changed in the past 12 months and what the future may hold.

To ensure your assets will be protected should you become unable to make financial decisions due to an accident or bad health, we recommend your Estate Plan includes an Enduring Power of Attorney.

Recently, the ATO has enforced the use of Single Touch Payroll (STP) and Superstream as their electronical tools to collect both tax and superannuation data from businesses and superannuation funds.

The ATO has recently announced that they have now re-commenced issuing requests to release excess contributions and other charges for superannuation fund members who did not make an election on how they would like to treat their excess non-concessional contributions for prior financial years.

A question we often hear is ‘what is a family office’? While any family can think about these same issues and investment goals, our family office start up allows families with a minimum of $2 million to invest to start a family office.

Last week, the Government passed a Bill that aims to improve flexibility for individuals preparing for retirement, increase superannuation support for individuals earning less than $450 per month and provide assistance for first home buyers.

Aspects to consider and questions to ask yourself when developing a family office.

If you are in a qualified profession or trade, it is important that you are aware of the ATO’s recent self-managed super fund around non-arm’s-length expenses.

In a measure designed to help first time home buyers to save a deposit more quickly, the Government will increase the maximum releasable amount of voluntary concessional (deductible) and non-concessional (after-tax) contributions under the existing First Home Super Saver Scheme (FHSSS) from $30,000 to $50,000.

There is more good news for everyone looking to grow their superannuation balance. In addition to the general transfer balance cap increasing from $1.6 million to $1.7 million, the concessional and non-concessional contribution caps are also set to increase from 1 July 2021.

Good news for everyone looking to grow their superannuation balance. The ATO has announced that from 1 July 2021 the transfer balance cap (TBC) will be indexed from $1.6m to $1.7m.

The Covid-19 pandemic continues to have a wide range of economic impacts for us all, and the Government is responding with a variety of assistance measures as these impacts evolve around us.