Avance » Super
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In the following section of Avance, one can find SMSF news, stories, and articles. Avance Chartered Accountants specialize in providing accounting and taxation services to businesses in QLD. We are here to help you take control of your financial wellbeing. avance is a team of dynamic professionals. We are driven to go above and beyond in empowering our clients.
Avance » Super
1M ago
Introduction The Australian Taxation Office (ATO) is implementing significant updates within the Small Business Superannuation Clearing House (SBSCH). These changes are aimed at enhancing the precision and security of superannuation contributions. As of 15 March 2024, employers using the SBSCH need to ..read more
Avance » Super
1M ago
Both death and taxes can be costly, stressful and time consuming. When it comes to dealing with tax implications on estate planning, or in the unfortunate event of someone’s passing, there can be additional pressure if appropriate tax advice and ..read more
Avance » Super
2M ago
The appeal of a Self Managed Superannuation Fund (SMSF) lies in the autonomy it provides, allowing individuals to control and access a diverse range of investments beyond what traditional industry funds offer. While the prospect is exciting, potential SMSF trustees ..read more
Avance » Super
2M ago
Part of the appeal of a Self Managed Superannuation Fund (SMSF) is controlling and having access to a broader range of investments than an industry fund. Sounds great doesn’t it – but before you all sign up for your own ..read more
Avance » Super
9M ago
Government Covid-19 relief measures gave a temporary reduction to the minimum amount required to be withdrawn from superannuation income streams. This relief has now stopped so you need to be aware of the change to the minimum pension payment drawdown ..read more
Avance » Super
11M ago
From 1 July 2023, the super guarantee rate for eligible employees rises to 11% (previously 10.5%). Super guarantee is calculated on Ordinary Times Earnings and is payable for all eligible employees regardless of how much they earn (prior $450/month cap ..read more
Avance » Super
1y ago
From 1 July 2021, the superannuation guarantee charge rate (SGC) that employers are required to contribute to employees’ superannuation has increased from 9.5% to 10%. These contributions form part of your concessional contributions cap. Since 1 January 2020, salary sacrificed ..read more
Avance » Super
1y ago
If you contribute some of your after-tax income or savings into super, you may be eligible to claim a tax deduction. This means you’ll reduce your taxable income for this financial year – and potentially pay less tax. And at ..read more
Avance » Super
1y ago
From 1 November 2021, employers will need to undertake an extra step while onboarding new employees to comply with the choice of superannuation fund rules. Penalties may apply if the choice requirements are not met. Under current rules, when onboarding ..read more
Avance » Super
1y ago
Tax deductible super contributions The concessional contribution cap for the 2020/21 financial year is $25,000 across all your superannuation accounts (if you have more than one superfund). If you contribute more than this, you may need to pay extra tax. Contributing into ..read more