Superannuation Articles

A superannuation death benefit is a payment from a super fund to a person or to a trustee of a deceased estate after the member has died. The tax treatment of a super death benefit is based on: whether the recipient of the death benefit is a death benefits dependant...

The First Home Super Saver Scheme (FHSS Scheme) was launched to help individuals save for their first home by allowing them to build up superannuation savings to use as a deposit. From 1 July 2022, individuals saving for their first home can contribute up to $50,000...

What is a super fund? A superannuation fund is simply a form of trust designed to provide retirement or death benefits for its members, and those members are the beneficiaries. The trust deed and the operation of the super fund needs to comply with the SIS Act and...

Use this list to work out which payments count as ordinary time earnings (OTE) or salary and wages for super guarantee.About payment typesAs an employer, you use:   OTE to work out the minimum super guarantee contribution for your employees. OTE is the amount you...

Making extra superannuation contributions is a great way to boost your retirement savings. Even small amounts add up over time and it can also reduce the amount of tax you need to pay. This article discusses various types of super contributions and how they affect...

What is a Departing Australia Superannuation Payment (DASP)?Special taxation arrangements exist in Australia for superannuation benefits paid to former temporary residents after they have left the country. These benefits are referred to as "departing Australia...

The super guarantee charge (SGC) is relevant where an employer fails to meet super guarantee obligations either by paying employee superannuation entitlements late or not at all.Who is entitled to superannuation?An ‘employee’ as that term is defined in section 12 of...

For many individuals, their superannuation is their largest source of savings. So when can you access your super? The key tenet of the entire superannuation system is to provide individuals with financial resources, sometimes in conjunction with the age pension,...

  IN THIS ARTICLE Super lump sums Components of a super lump sum Working out the withholding amount Rollovers Table A: Withholding rates for super lump sums Preservation age Super lump sums A super lump sum payment includes a: lump sum member benefit paid to an...

Superannuation rules seem to change regularly. If you are an SMSF trustee, you should be aware of these changes. Here’s what you need to know.