The ATO has reported that around 123,000 individuals have made 'downsizer super contributions' since the scheme commenced in 2018, contributing more than $31 billion to super funds. Broadly, where the various requirements are satisfied, eligible individuals aged 55 years or older can contribute up to $300,000...
The ATO has added an extra verification step for super transfer and consolidation requests made through the ATO's online services. This step is the latest ATO app security feature that helps protect against fraudulent activity. If a taxpayer has registered their device using the ATO app, they...
The ATO is reminding business taxpayers of recent changes they should keep in mind this Tax Time, including the following: From 1 July 2026, Payday Super applies. Employers will need to pay super to an employee's nominated super fund each payday, and it must reach the...
The Government has recently legislated several of the tax reform measures announced in the 2026 Federal Budget (and in later media releases). These include, among other things: - Replacing the CGT discount with cost base indexation and a 30% minimum tax on gains accruing from 1...
The Small Business Superannuation Clearing House ('SBSCH') will permanently close on 1 July 2026. Therefore, employers still using it have less than a month to transition to an alternative service provider, test their new arrangements and resolve any issues before Payday Super begins. The ATO recommends...
Key BAS, tax & super deadlines — all in one simple guide A new year always brings good intentions — more balance, less stress, and feeling a little more in control. But when it comes to tax, BAS, super and payroll, it’s easy for deadlines to creep...
The ATO is warning the community about a "proliferation of dodgy websites sharing fake news about changes to the superannuation preservation rules and withdrawal rules starting on 1 June." ATO Deputy Commissioner Emma Rosenzweig confirmed the maximum preservation age (the age when an individual can access...
The ATO advises new business owners that they need to understand their obligations to ensure they are "getting it right from the start." These are the 'top 7 things' taxpayers need to know when starting a business. They should use digital tools and maintain accurate records to...
You must pay super for eligible employees. To avoid the super guarantee charge (SGC), payments must be received by the employee's fund on or before the quarterly super due dates. Payments can be made at least 4 times a year. This applies from the day employees start...
The ATO has been responsible for the administration of the early release of superannuation on compassionate grounds since 1 July 2018. It will only approve a release of superannuation on compassionate grounds if the applicant meets all the conditions set out in the regulations, including that...