The headlines have been warning for weeks about a possible debt default by the United States. Negotiations have become contentious, with a deadline that could come as soon as June 1. The stock market is bracing for a negative impact as uncertainty looms over the US debt ceiling being raised. Australian shares are expected to...
Federal Budget 2023 Highlights: From 2026, employers must pay super at the same time as wages, $40m to fund an ATO compliance program targeting unpaid super, Broader crackdown on unpaid tax and super by medium and large businesses forecast to net $440m over four years, Increased tax on super over $3m from 2026 Streamlining...
Interest Rate Hike Too many predictions have proven wrong today as The Reserve Bank of Australia handed down a cash rate hike to bring down the high inflation rate. The central bank increased the interest rate by 25 basis points from the previous 3.6 per cent to 3.85 per cent. From a record-low level of...
Understanding the super contributions cap is crucial for maximising your retirement savings and avoiding potential tax penalties. You are only permitted to contribute a certain amount to your super fund each fiscal year without incurring additional taxes. The term “contribution caps” refers to these restrictions. Your age and total super balance may also affect how...
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