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The long and short of the super downsizer scheme

    Under the superannuation downsizer scheme, from 1 July 2018, people aged 65 and older can make a non-concessional (post-tax) contribution of up to $300,000 from the proceeds of selling what was once their family home. Existing contribution caps and restrictions will not apply to the downsizer contribution. The downsizer scheme was one of

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SG amnesty: Are reports of ATO leniency off the mark?

  The failure of the Superannuation Guarantee Amnesty to pass into law has led to a problem. To recap, the Superannuation Guarantee Amnesty was to be available for the 12-month period from 24 May 2018 to 23 May 2019. To get the benefits of the amnesty (set out below) employers must during this 12-month period

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FASEA releases final examination standard

  The Financial Adviser Standards and Ethics Authority (FASEA) has released the legislative instrument and explanatory statement for its examination standard. The legislative instrument was informed through consultation received in 26 submissions during the legislative instrument final consultation process for this standard in December 2018 and January 2019. Under the final standard, FASEA has reduced

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SG on leave loading? Yes, and no — so it pays to check

  An issue has surfaced in recent times that in some cases may require a change in the approach taken by some employers with regard to them being fully compliant with superannuation guarantee obligations. The problem for some may not be so much ducking the rules, but rather being in sore need of clarification on

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