Tag: financial planning software
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ATO Crackdown Reveals $659M Unpaid Super Guarantee Charges
The Australian Tax Office (ATO) recently disclosed that it had concluded 23,600 super guarantee cases in the 2023–24 fiscal year, resulting in a total of $659 million in super guarantee charge liabilities. This figure underscores the ongoing issue of employers failing to meet their superannuation obligations. A PRACTICAL GUIDE TO AUSTRALIAN SUPERANNUATION: A Plain-English Guide…
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Rise of Cryptocurrency in Australian Pension Funds Signals Strategic Shift
The integration of cryptocurrency into Australian pension strategies has evolved significantly in recent years, transitioning from a speculative interest to a calculated allocation strategy. By 2025, self-managed superannuation funds (SMSFs) in Australia hold approximately $1.7 billion in crypto assets, a substantial increase from 2021. This growth is primarily attributed to younger investors and smaller funds,…
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Government Proposes Super Tax Reforms for Fairness and Sustainability
As the federal government’s plan to increase the tax on superannuation balances over $3 million sparks debate, it’s crucial to understand the rationale behind super tax breaks and why reforms are necessary. These tax breaks, costing the government nearly $50 billion annually, aim to enhance retirement savings and prevent exorbitant long-term tax rates on super…