Month: July 2018

Downsizer Contributions

The ‘downsizer’ contribution came into effect on 1 July 2018 and allows an eligible person to contribute and additional amount to superannuation of up to $300,000 per member, without the need to satisfy normal tests relating to superannuation contribution eligibility (including the work and total super balance tests). These contributions will not count towards the…
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July 2018 – Update

Personal Income Tax Cuts passed! Parliament has passed the Government’s Personal Income Tax plan, meaning that the first stage of the proposed income tax cuts will start to take effect from 1 July 2018. To recap the first stage of the plan was to legislate the $530 low and middle-income tax offset and raise the…
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