Category: Superannuation

RBA Interest Rate Announcement 2nd August 2022

At its meeting today, the Board of the Reserve Bank of Australia have decided to increase the cash rate target by 50 basis points to 1.85 per cent. It also increased the interest rate on Exchange Settlement balances by 50 basis points to 1.75 per cent. The Board places a high priority on the return […]

Important tax dates and obligations Q1 2023

Key tax & lodgement dates for the July – September quarter 2022 21 July Lodge and pay June 2022 monthly business activity statement. 28 July Lodge and pay June 2022 quarter activity statement if you lodge by paper Pay June 2022 quarter instalment notice. Lodge the notice only if you are varying the instalment amount. […]

Quarterly economic update: April – June 2022

Our latest quarterly economic update covers our domestic economy, including inflationary fears, rising cost of living prices, the recent basic wage increase, and the slowing of the property market. Cryptocurrency is also discussed. The inflation story The price of a lowly head of lettuce has never been a recognised barometer of the strength of the […]

Interest Rates 101

How (and why) does the Reserve Bank control interest rates, and what does it mean for your home loan, bank deposits and other investments? While we understand banks charge interest on their home loans, exactly what determines the rate? Following recent rate rises, should we be worried that interest rates will spike even higher in […]

Super explained: catch-up contributions

We’ve all heard that super is a tax-advantaged structure for retirement savings, and more people are realising that “catch-up contributions” are available – but what exactly does that mean? But first – why contribute more to super? Superannuation does impose restrictions on access to your money. It is, after all, intended to provide for your […]

RBA Interest Rate Announcement 5th July 2022

At its meeting today, the Board of the Reserve Bank of Australia have decided to increase the cash rate target by 50 basis points to 1.35 per cent. It also increased the interest rate on Exchange Settlement balances by 50 basis points to 1.25 per cent. Inflation is forecast to peak later this year and […]

RBA Interest Rate Announcement 7th June 2022

At its meeting today, the Board of the Reserve Bank of Australia have decided to increase the cash rate target by 50 basis points to 85 basis points. It also increased the interest rate on Exchange Settlement balances by 50 basis points to 75 basis points. Inflation in Australia has increased significantly. While inflation is […]

RBA Interest Rate Announcement 3rd May 2022

At its meeting today, the Board of the Reserve Bank of Australia have decided to increase the cash rate target by 25 basis points to 35 basis points. The Board judged that now was the right time to begin withdrawing some of the extraordinary monetary support that was put in place to help the Australian […]

Important tax dates and obligations Q4 2022

Key tax & lodgement dates for the April – June quarter 2022 21 April Lodge and pay March 2022 monthly business activity statement. 28 April Lodge and pay March 2022 quarterly business activity statement if electing to receive and lodge by paper and not an active STP reporter. Make super guarantee contributions for the March […]

5 things to update when you a get a new job

A new job is an exciting time that offers new opportunities. From Medicare to investments here are 5 things you should be on top of when you land your next role. The Australian Bureau of Statistics reported over 1 million Australians were out of work in July 2020, when unemployment during the pandemic was at […]

Quarterly economic update: January – March 2022

Robust domestic economic growth Australia is rebounding from the pandemic, with domestic economic growth forecast to reach 3.5 per cent this financial year. Some analysts predict it might be even stronger, possibly reaching as high as 4 per cent. Driven by Government spending Much of this is due to the lingering impact of the Federal […]

Super Guarantee rate increases to 10.5%

With the new financial year fast approaching, it’s worth noting the legislated increase to the Superannuation Guarantee (SG) contribution rate effective 1 July 2022. As per the table below, next financial year the SG rate will increase to 10.5%, on its path to 12% by July 2025. Super Guarantee (SG) rate Income Year Legislated Rate […]

10 tips to prepare for Retirement

Looking forward to an enjoyable retirement? Check out our top 10 tips to make sure you’re on track. Tip 1: Take stock How do you want to live in retirement? How much will it cost? Do the numbers. Now, what does your super balance look like? Do the figures meet your expectations? If not, what […]

RBA Interest Rate Announcement 5th April 2022

At its meeting today, the Board of the Reserve Bank of Australia have decided to maintain the cash rate target at 10 basis points and the interest rate on Exchange Settlement balances at zero per cent. The Australian economy remains resilient and spending is picking up following the Omicron setback. The strength of the Australian economy is […]

RBA Interest Rate Announcement 1st March 2022

At its meeting today, the Board of the Reserve Bank of Australia have decided to maintain the cash rate target at 10 basis points and the interest rate on Exchange Settlement balances at zero per cent. The global economy is continuing to recover from the pandemic. However, the war in Ukraine is a major new […]