SuperStream Deadline Approaching!

The new way of processing Superannuation Payments is almost here.

      

In its bid to streamline the processing of transaction for superannuation funds, the ATO has introduced SuperStream. The main aim of SuperStream is to ensure employer superannuation contributions are paid in a consistent, timely and efficient manner.

The key component of SuperStream is that it is compulsory to make your superannuation contributions online with products that are SuperStream compliant. The easiest way to become SuperStream compliant is to use software in your business that enables electronic super payments.

When does my business need to become SuperStream compliant?

If you are running a business with 19 or less employees, you have until 30 June 2016 to be making your employer superannuation contributions electronically. If your business has 20 or more employees your cut-off date was 1 November 2015 so you will need to start making these electronic payments ASAP!

How we can help you

If you’re not sure if your business is SuperStream compliant let us know and we can do an assessment for you. We can also help you implement Xero or MYOB, online accounting software, into your business so you can easily make SuperStream compliant superannuation payments for your employees.

Give your Super a Boost!

An alternative way of building up your retirement savings.

        

While most of us will hopefully accumulate enough superannuation throughout our working lives to have a comfortable retirement, many of us simply won’t have the funds there to splurge on something nice every now and then.  

What if we could tell you there's a way to boost your superannuation earnings that reduces the amount of tax you have to pay on your contributions at the same time - would you be interested?

Who wouldn't!

As one option to consider, by purchasing an investment property within a Self-Managed Superannuation Fund (SMSF), you can use the power of leverage to boost the growth of your retirement savings. The interest on the loan is 100% tax deductible which means not only will you be making more money; you'll be saving tax at the same time!

The other benefit of investing in property through your SMSF is diversification. Some people are tired of the share market going up and down like a yo-yo and prefer property as an investment. Investing in property in addition to shares will mean you won't have all your eggs in one basket. This gives you peace of mind knowing a sharp downturn in shares one day won't be the end of your retirement savings.

Sounds good? Absolutely, but it isn’t something you should rush into without discussing your situation with your Accountant or Wealth Advisor first. Investing in property through an SMSF can be complex and you will need to be confident in your numbers before you get started.

We’re here to help you!

Make an appointment with us today to discuss your situation and see if property within an SMSF is right for you.