Newsletter

The Federal Government has proposed a number of changes to superannuation and income streams including:

CHANGES TO CONCESSIONAL CONTRIBUTIONS LIMITS

Concessional contributions are contributions made from your before-tax salary and include employer contributions, Superannuation Guarantee contributions and salary sacrifice contributions.

The government is strengthening its foreign resident capital gains tax (CGT) regime to assist in the collection of foreign residents' CGT liabilities.

Australia has introduced a new law applying the Australian Goods and Services Tax (GST) to international sales of digital products and services provided to Australian consumers. Under the new law, overseas businesses will be required to pay GST on these sales from 1 July 2017. 

SuperStream is the way businesses must pay employee superannuation guarantee contributions to super funds. SuperStream transmits money and information consistently across the super system – between employers, funds, service providers and the Australian Taxation Office (ATO) electronically in a standard format. The data is linked to the payment by a unique payment reference number.