Suite 8 / 260 Auburn Road, Hawthorn 3122
Phone: 03 9214 4100
Fax: 03 9818 6008
enquiries@trumpetfinancial.com.au
 
 
eWombat Search
  LATEST FINANCIAL NEWS
 
Hot Issues
Australia’s $4bn Super blackhole impacting self-employed most
The proper help can be a benefit - age pension
SMSFs on ATO’s radar in cryptocurrency review
Limited recourse borrowing arrangements - LRBAs
What a financial planner does to help.
Goodbye to ad-hoc portfolios
Wanted: More voluntary super contributions
Australia by the numbers – May Update
Federal Budget 2019 - Overview
How the 2019 Federal Budget affects you
The problem with getting to 53 years of age.
Paying for health care in retirement
Personal super contributions and the 10% test
What investors can expect as key moves affecting markets await
ATO flags PAYG obligations for SMSFs with legacy pensions
Don't just plan for retirement; Plan for your life
Consumers misunderstand types of advice
Budget Time - How's Australia going?
When super isn't compulsory
Investors brace for Brexit - deal or no deal
ATO identifies SMSF contravention red flags
Extra website resources and tools is one way we offer you and your family more.
Tax and estate planning traps flagged with pension restructures
A checklist for a healthy financial year
High-risk LRBAs, TBAR on the ATO’s radar this year
All you need to know about how Australia is going.
Royal Commission report makes super fee recommendations
Four tips for boosting your super balance
New Year resolutions, New Year strategies
Articles archive
Quarter 1 January - March 2019
Quarter 4 October - December 2018
Quarter 3 July - September 2018
Quarter 2 April - June 2018
Quarter 1 January - March 2018
Quarter 4 October - December 2017
Quarter 3 July - September 2017
Quarter 2 April - June 2017
Quarter 1 January - March 2017
Quarter 4 October - December 2016
Quarter 3 July - September 2016
Quarter 2 April - June 2016
Quarter 1 January - March 2016
Quarter 4 October - December 2015
Quarter 3 July - September 2015
Quarter 2 April - June 2015
Quarter 1 January - March 2015
Quarter 4 October - December 2014
Quarter 4 of 2017
Articles
For the young it a question of engagement
Address Under-insurance at Personal Finance Level - Global study
Realism vs reality - working part-time as retirees
SMSFs warned on ‘ticking time bomb’ with outdated deeds
Statutory wills are underutilised in estate planning
Resources on our site to help you, your family and your friends.
Calls to Review ASIC's Definition of Lapse Insurance
Paperwork bungles lead to $38k in payments
Self-employed? Don't miss out on super
Australian Dietary Guidelines and healthy eating chart (PDF)
Big concessions looking likely for transfer balance limit: ATO
Raft of superannuation measures enter Parliament
US Fed policy: Normalisation begins
What the gig economy may mean for your super
Powerful Budgeting, cash flow and Super Tools available on our site.
Australia's leading causes of death - ABS
Government introduces first home scheme laws
Are young investors wasting their youth?
ATO granted super enforcement powers
The great Australian (retiree) dream
Raft of superannuation measures enter Parliament

The government has introduced a number of bills into Parliament relating to contributions including the removal of an employer loophole with salary sacrifice arrangements.



       


 


Treasury Laws Amendment (Improving Accountability and Member Outcomes in Superannuation Measures No. 2) Bill 2017 entered the House of Representatives today and is aimed at improving choice for members and the integrity of salary sacrifice arrangements.


The bill amends the Superannuation Guarantee (Administration) Act 1992 (SGAA) to ensure that employees under workplace determinations or enterprise agreements have an opportunity to choose the superannuation fund for their compulsory employer contributions.


If passed, the measure will apply to new workplace determinations and enterprise agreements made on or after 1 July 2018.


The bill also removes a loophole from the legislation that allows unscrupulous employers to use their employee’s salary sacrifice contributions to pay their own Superannuation Guarantee (SG) obligations and ensures that SG is paid on a pre-salary sacrifice base.


The government also introduced Superannuation (Excess Non-concessional Contributions Tax) Amendment (National Disability Insurance Scheme Funding) Bill 2017, which increases the superannuation excess non-concessional contributions tax from the current rate of 47 per cent up to 47.5 per cent for the 2019-20 financial year and later financial years.


The third bill that was introduced, the Superannuation (Excess Untaxed Roll-over Amounts Tax) Amendment (National Disability Insurance Scheme Funding) Bill 2017, makes changes to the rate at which excess untaxed roll-over amounts are taxed.


The bill amends the Superannuation (Excess Untaxed Roll-over Amounts Tax) Act 2007 to increase the rate at which excess untaxed roll-over amounts tax is payable on an individual’s excess untaxed roll-over amounts from 47 per cent to 47.5 per cent.



By: Miranda Brownlee
23 OCTOBER 2017
smsfadviser.com




30th-October-2017
Trumpet Financial Pty Ltd ABN 11 443 516 384 Corporate Authorised Representative (No 327756) of Aon Hewitt Financial Advice Limited AFSL 239183 ABN 13 091 225 642
Registered Address: Level 33  201 Kent Street, Sydney NSW 2000 | Sitemap | Disclaimer | Privacy Policy | About Aon Hewitt Positioning