The Australian Tax Office (ATO) is reminding employers using Small Business Superannuation Clearing House (SBSCH) to check their employee details are accurate when making payment. Submitting incorrect employee details can risk their super fund rejecting your payment and returning the amount to the ATO. Once the ATO receives your payment, they will contact you and require
When it comes to how the super death benefit is paid out, there are specific tax implications involved which affect the amount a nominated beneficiary will receive. In a situation where super is paid out after an individual has passed, it is generally split up into two components; taxable and tax-free. The tax-free portion of a super
[vc_row type=”full_width_content” full_screen_row_position=”middle” scene_position=”center” text_color=”dark” text_align=”left” overlay_strength=”0.3″][vc_column column_padding=”no-extra-padding” column_padding_position=”all” background_color_opacity=”1″ background_hover_color_opacity=”1″ width=”1/1″ tablet_text_alignment=”default” phone_text_alignment=”default”][vc_column_text] The superannuation and finance industry is going through some interesting times at present – the Royal Commission, property market peaking in this cycle, a watching brief on interest rates and a share market trying to find direction. As many of our
