Contact information

T:
(07) 56070695
F:
(07) 56070694
M:
0421665620
E:
Send an email

Address

Level 1, Big B Arcade
50 James Street
BURLEIGH HEADS, QLD
Australia
4220 Get vCard

Opening hours

Monday - Friday
9:00am-5:00pm

Times are flexible when required

  • Proposed Super Changes "the nitty gritty'

    8 April at 08:21 from atlas

    • Tax free withdrawals from age 60 remain unchanged. 
    • From 1 July 2014 the tax exemption applying to pension account earnings will be limited to $100,000 per individual with 15% tax applying on any excess. This cap will be indexed by the CPI in $10,000 increments. Similar arrangements will impact defined benefit funds.
    • Special arrangements will apply for capital gains on assets purchased before 1 July 2014, 
    • The $25,000 concessional contribution cap remains but it increases to $35,000 (unindexed) for individuals aged 60 and over from 1 July 2013 and aged 50 and over from 1 July 2014.

      -  The previous consideration to limit the higher cap to individuals with balances below $500,000 has been dropped.

      -  Excess concessional contributions from 1 July 2013 can be withdrawn from the fund and taxed at marginal rates plus an interest component rather than retained in the fund and taxed at the highest marginal rate.

      -  From 1 January 2015 all new account based super pensions will be assessed as income for income test purposes rather than benefit from a reduction based on the capital component. All existing pensions at that date will be grandfathered.