Salary sacrificing into your super

Salary sacrificing part of your income into your superannuation brings about a lot of financial benefits. Employers in Australia are required to contribute the equivalent of 9.5% of an employee’s salary into a nominated superannuation fund. On top of these contributions, employees can request that their employer reduce their salary and direct the additional cash…

ATO focusing on personal electronic devices

This financial year, the ATO has announced that it will be focussing on specific types of deductible claims. In previous years, the tax office has announced specific industries or professions that will be subject to particular scrutiny. The biggest announcement this year is that deductions for personal electronic devices such as smartphones, tablets and laptops…

Savings strategy for over 55s

If you are over the age of 55 and are still earning income through employment, then you may be able to make significant tax savings using the transition to retirement scheme. When you use the transition to retirement strategy, you have two superannuation accounts. One account receives your employer’s contributions and any additional contributions that…

Superannuation balances boosted by international shares

Findings of a study conducted by research firm SuperResearch reveal that in 2014 investment in international shares provided superannuation accounts with impressive returns. Superannuation funds reported an average 7.5% return in 2014, with international shares providing a significant contribution. The falling Australian dollar, which tumbled almost 8% against the USD last year, has also benefited…