The government proposes a 30% tax on high super balances, as announced on February 28, 2023. Starting from July 1, 2025, any superannuation balances above $3 million will be subject to a concessional tax rate of 30% on future earnings. It’s important to note that this proposal has not yet been enacted into law. This
Early access to super savings, for some individuals, is the way to go. This may be necessary before retirement due to financial hardship or other unforeseen circumstances. Superannuation is a vital component of retirement planning in Australia, with millions relying on their superannuation savings to support them in their golden years. As we move into
Are you running a small business? If so, you may be wondering if you can handle taxes all by yourself or if there are already enough reasons to hire accountants to assist you with taxes. With the new myTax system provided by the government, DIY taxes is seemingly something that you should be partaking in.