Author: Recruitment Super
-
Draft Payday Super Legislation Revolutionizes Superannuation Compliance for Employers
The long-awaited draft Payday Super legislation has been released by the Treasury, marking a significant reform in the superannuation sector. The legislation, set for potential commencement in July 2026, aims to reshape the Superannuation Guarantee framework, emphasizing the timely receipt of contributions by employees’ super funds within seven days of salary payment. 101 Ways to…
-
Australia’s Superannuation System Enhances Retirement Savings with Rate Increase
Australia’s superannuation system is evolving with the final planned increase in the super guarantee rate from 11.5% to 12%. This adjustment signifies a crucial step in enhancing retirement savings for future generations, as employers will contribute a higher percentage of payroll to superannuation. The impact of this change is expected to be significant in the…
-
High Court Rulings Redefine Employment Relationships in Australia
Recent High Court rulings in Australia have reshaped the landscape of determining employment relationships by shifting the focus from a multifactorial test to a scrutiny of contractual terms. These legal developments have far-reaching implications for businesses, particularly concerning superannuation obligations and existing agreements. Macken’s Law of Employment 9th Edition | $200.09 In response to these…
-
Woolworths Boosts Parental Leave Super to Close Retirement Gap
Woolworths Group, a retail giant serving millions of customers weekly, has announced a groundbreaking initiative to boost superannuation contributions for team members on parental leave. This move aims to address the significant gender gap in retirement savings, a pressing issue highlighted by the Association of Superannuation Funds of Australia. Elternzeit geplant, Familie entspannt I Der…
-
New Super Contribution Rules Benefit Older Australians Planning Retirement
The Australian Government has recently announced changes to the work test for voluntary super contributions for individuals aged 67 and over. This alteration, set to take effect in the near future, aims to provide more flexibility for those looking to boost their retirement savings. Understanding the implications of these modifications is crucial for individuals in…
-
Preservation Age in Australia: Retirement Flexibility and Financial Planning
Australians can access their superannuation at the age of 60 if they have stopped working, or at 65 if they are still employed. This age, known as the preservation age, marks a significant milestone for many individuals as they transition out of the workforce. Originally set at 55, the preservation age was later extended to…
-
CommBank Report Reveals Australian Financial Blind Spots and Solutions
A recent report by CommBank sheds light on the financial blind spots hindering Australians from achieving greater financial confidence and joy. The report coincides with the launch of a free Financial Fitness program aimed at empowering individuals with financial knowledge and skills. Financial Feminist: Overcome the Patriarchy’s Bullsh*t to Master Your Money and Build a…
-
Debate Over Superannuation Tax Reforms and Division 296 Proposal
The debate surrounding tax concessions on superannuation has reignited with the government’s proposal for an additional tax on earnings over A$3 million. However, the discussion often lacks clarity and depth, overshadowing the crucial reforms needed in the super tax system. Helect Calculator, Standard Function Desktop Calculator (Black) | $14.99 Going back to 2009, the Henry…
-
Gender Superannuation Gap: Urgent Call for Equity in Retirement Savings
Gender inequality in superannuation is a pressing issue that demands attention. The Gender Superannuation Gap is a stark reality that affects women’s financial security in retirement. Despite efforts to shed light on this issue, the response has been met with resistance and dismissal. Road to Retirement: The Good Life: Save $20k Savings Challenge Book |…