The Gender Gap Dividing Superannuation

The Gender Gap Dividing Superannuation

Gender gaps can affect superannuation accounts as much as they can affect salary rates. With barriers to entering into fields, lower hourly rates of pay, less hours worked and more unpaid labour affecting the amount of super Australian women are retiring with, as compared to men. Currently, the median superannuation balance for men aged between…

How Super For Contractors Can Work

How Super For Contractors Can Work

Contractors who run their own business and sell their services to others have different obligations to their super than what employees in a business may usually have. A contractor (also known as an independent contractor, a subcontractor, or a subbie) who is paid wholly or principally for their labour is considered to be an employee…

What Is A Retirement Planning Scheme

What Is A Retirement Planning Scheme?

With a significant number of Australians approaching retirement and looking at the best ways to maximise their retirement assets and income from their super for it, retirement planning makes sense. Unfortunately, there are those who want to target people approaching and planning for their retirement with schemes designed to ‘help’ retirees and prospective retirees avoid…

Simple Super Information For The Self Employed

Simple Super Information For The Self-Employed

If you’re self-employed, you aren’t required to pay yourself super guarantee payments. It is however a recommended way to save for your retirement, and making personal super contributions could be beneficial for you in the long run. As a self-employed individual, you can make regular or lump-sum payments to your super, potentially claim a tax…

Checking your Pay As You Go Instalments

Checking your Pay As You Go Instalments

Checking that your pay as you go instalments (PAYG) still reflect your expected end of year tax liability is a good idea. PAYG instalments can be varied multiple times throughout the year, with the varied amount or rate applying to the remaining instalments for the income year, or until another variation is made. PAYG instalments…

Tax After Death

Tax After Death?

Intrinsically linked with tax, superannuation is a minefield of concerns for many of us. One such concern is whether super gets taxed after a death. When a person’s super is paid after their death it’s called a ‘death benefit’. Death benefits can be paid to a dependant only after the owner of the super dies. …