Have you been offered a voluntary redundancy? Are you in a position to negotiate termination with your employer?
If so, consider that the transitional rules for employer termination payments (ETPs) are set to end on 30 June 2012. This will have a marked impact on how much tax you will pay on benefits after 1 July and you will no longer be able to direct part of the ETP into super.
If you are in a position to take bona fide redundancy or early retirement, contact us today to discuss the implicat...

Move into retirement and be better off

If you’re between 55 and 75, establishing a transition to retirement pension could help you:

• ease into retirement by reducing your working hours without reducing your income
• increase your retirement savings without impacting your income if you are still working full time
• boost your income today so you have more money to cover your everyday living expenses.

‘Transition to retirement’ rules were introduced to allow working Australians aged 55 ...

With the end of financial year just around the corner, there are many ways you can increase your retirement savings by implementing tax-effective super strategies.

How you can benefit

The end of financial year is a great time to think about how you can boost your super savings before 30 June, and get your financial affairs in order.

There are many strategies you can implement before the end of financial year to boost your retirement savings and achieve tax savings, such as taking advantag...

If yes, then you may be liable to pay their Superannuation Guarantee contributions.

If you pay individuals under a contract that is wholly or principally for their labour, you have to make super contributions for them, even if they quote their ABN (Australian business number).

Generally, a contract is principally for labour if more than half of the dollar value of the contract is for a person's labour. This person is considered your employee for super guarantee purposes.

An individual's l...