Who is eligible for superannuation? In Australia, almost every company employee over the age of 18 is eligible for super from their employer - including casual workers and temporary residents. If you're under 18 years of age, you must work more than 30 hours in the week to be entitled to...
Superannuation, often simply called "super," is a system designed to help individuals save for their retirement, primarily in countries like Australia. The system is funded by contributions from employees, employers, and sometimes the government. These contributions are invested over the long term to...
To help, we’re going to break down what there is to know about inheritance tax in Australia. We’ll look at what inheritance tax is, the current Australian Taxation Office (ATO) rules on inheritance tax, and some specific situations like whether the Australian superannuation death benefit is ...
Western Australia Australian Capital Territory What leads to mortgagee repossession? If a repayment is not made after the default notice, the lender can begin ‘mortgagee repossession’. During this process, they take possession of and sell a property to recover the debt from a homeowner who has ...
Superannuation Taxes Gross income Gross income, or gross pay, is the total amount of money an employee earns in a pay period before deductions or taxes are taken out. Calculating gross income will depend on whether the employee is paid hourly or is a salaried worker. ...
But the 'cut top rates' bandwagon just keeps rolling - even though each dollar spent cutting taxes for the three per cent earning over $125,000 a year can't be used to raise thresholds and so lower tax for the rest. Now a bandwagon is starting up against 'fiscal churn' - that's ...
Payroll taxis another source of liability for a business. When accounting for payroll expenses, be sure to also record the portion of your payroll budget that must be directed toward: Commonwealth tax State income tax Employee superannuation
Life insurance.Pays a lump sum to your dependents or loved ones should you pass away. You may also have life insurance through your superannuation. Trauma insurance.This type of insurance pays a lump sum should you be diagnosed with a critical illness such as cancer, heart condition or head ...
In Australia, when you sell shares and other listed securities for a price higher than you paid, the profit or capital gain may be subject to a capital gains tax (CGT). CGT is common globally, but Australia’s implementation is considered one of the world’s most complex, and the nua...
A superannuation is an Australianpensionprogram created by a company to benefit its employees. Funds deposited in a superannuation account will grow throughappreciationand contributions untilretirement. The term "super" is more commonly used when referring to pension plans available in Australia. The U....