Deeming Rate Freeze extended The existing freeze on deeming rates at 2.25 per cent has been extended until 30 June 2025. This measure provides relief to retirees and enables retirees to benefit from increases in interest rates without impacting on age pension rates or eligibility. ...
The ATO has reminded employers that, from 1 July 2022, they must make superannuation guarantee contributions for employees under 18 years old if they work more than 30 hours a week. The ATO is reminding employers of this upcoming requirement in light of the recent repeal of the legislated mini...
The Australian Government determines the SG rate, which is 10.5% of OTE in 2022/23. Prior to 1 July 2022, if an employee was over 18 and earned $450 or more (before tax) in salary or wages in a calendar month, the employer must pay super for them. Note: salary or wages includes ...
(2) the fact that the Fees and Costs Instrument actually removed the prescribed words“regardless of your balance” from the Example’s Administration Fee row as it would apply to fixed fees, it may be the intention that the asset-based fee should be inserted last in that Example’s row w...
CAGR is defined as the annualized growth rate in the value of a financial metric – such as revenue and EBITDA – or an investment across a specified period. Wall Street Prep Putting together Profitability and Growth Fortunately there are some really nice blokes in the financial world that share...
The mandated contribution rate has risen from 3% in 1992, to 9.5% today, and is scheduled to reach 12% by 2025. We use a financial computable general equilibrium (FCGE) model to simulate an increase in the contribution rate. We find that raising the contribution rate has consequences for ...
These super guarantee contributions must be a minimum amount based on the current super guarantee rate of the employee's ordinary earnings, up to the ‘maximum contribution base’. Super guarantee rate for the year of 1 July 2021 to 30 June 2022 is 10...
The determining factor here is control. Unfortunately, control can be a challenging term to define. Control could mean the ability to choose where to invest your superannuation, which all employees in Australia have the right to do. On the other hand, control could occur when you have the cho...
2. In connection with processing of cases, the required forms for settlement of claims under the scheme have been finalized in consultation with the fund manager i.e. LIC of India and these are enclosed herewith. The circles/ units will be required to send the duly complete...
duty and related obligations. The remaining files were assessed as non-compliant because of issues with procedures and record keeping. ASIC did not find any serious consumer detriment and the compliance rate was similar to the compliance rate identified in ASIC’s December 2019 Report 639 Financial...