Concessional contributions are superannuation contributions in respect of which a tax deduction has been claimed whether those contributions are made by the employer (or a related company of the employer) of the member or by the member themself. These contributions are subject to tax in the super fund at 15%.
Media Releases
OK to make a deductible super contribution then cash out?
This very issue was the subject of a recent private binding ruling (released 25 March 2024). The taxpayer had for a number of years made personal superannuation contributions for which the taxpayer claimed a tax deduction. The actual amount of each of these contributions was not provided in the published ruling.
Work Bonus scheme: Two significant changes
Two significant changes have been made to the Work Bonus scheme. These changes apply from 1 January 2024. The first change is that an initial credit of $4,000 will be granted to the “work bonus bank” of each new age pension recipient. The second is that the maximum balance of the “work bonus bank” has been increased to $11,800 (previously the maximum balance was $7,800).
Adult children as tax free dependants
With an increasing number of elderly parents living with their adult children, is it possible that an adult child of a deceased parent could, on the death of the parent, receive their parent’s superannuation tax free?
Zenith upgrades Prime Value small cap fund to Highly Recommended
The Prime Value Emerging Opportunities Fund Class A, and newly created Class B, have been upgraded to a Highly Recommended rating by research house Zenith Investment Partners.
Spatium changes trustee, administrator as advisers demand digital access
Spatium Capital has responded to adviser and SMSF trustee requests for easier, cleaner digital access via applications and signature protocols.
Volatility expectations vs reality
The movements in global equity markets over the past few weeks have rightly caused some concern for investors. Ahead of the seasonally favourable end-of-year markets, many equity indices have lost ground, with the ASX down 10% since the peak in February.
Spatium Small Companies Fund update for October 2023
Spatium Small Companies Fund returned -8.0% for the month of October vs -5.6% for the benchmark.