Tag Archive for: superannuation accountants

Property investment advice Melbourne

Budget 2017 changes for SMSF and property investors

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There were no major superannuation measures in the May 2017 Budget, with slated super reforms commencing 1 July 2017. However, there are now changes to depreciation and deductibility which many residential property investors, including SMSFs with residential property investment portfolios, will need to take into account. There is also encouragement for people over 65 to downsize their own homes to make a non-concessional super contribution from proceeds, the general idea being to help free up the stock of larger homes held by empty-nesters for more effective usage.

If you’re involved in property investment and superannuation decision-making and administration, here are the key points to consider:

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Changes small business 2017-2018

Some good news for small business in Federal Budget 2017

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The Federal Budget announced on 9 May 2017 delivered no sweeping changes to the small business landscape, and increased compliance is something that most business owners have become used to. However, there was some good news for business owners wanting to continue investing in assets to improve business productivity, profitability, and capacity for innovation.

Here we explain Budget highlights as relevant to small business owners:

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Medicare logo 2015

Medicare Levy and Wage Changes for 2014/2015

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Those employees earning a contracted wage, inclusive of superannuation, will find that their take-home pay is reduced from 1 July 2014.

This is because the medicare levy has gone up from 1.5% to 2.0%, which is to pay for the National Disability Insurance Scheme. The Superannuation Guarantee has also gone up from 9.25% to 9.5%.

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