How to save tax by using your superannuation.

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Contributions to Super is still one of Derek's favorite tax deductions for Small Business Owners and individuals.
Recent changes by the ATO have made it more appealing, and many small business owners do not take advantage of these benefits.
Derek will talk about:
New superannuation rules introduced by the Australian Tax office and how small business owners and individuals can benefit from these.
Cast study Examples
Advantages of putting money into your superannuation.
How superannuation contributions can save your tax.
‪@TwelveAccounting‬

Опубликовано:

9 июл 2024

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Комментарии : 35

@simikyn6462 8 месяцев назад

Hi, thanks for the education

@allizan 3 года назад

This webinar has answered literally all of my super questions- thankyou!

@jennywiltshire7354 3 месяца назад

This is excellent info, thanks

@linusath 4 года назад

Love your work Derek. Thank you again!

@pf382 4 года назад

I really enjoy your videos - so informative and interesting! Keep up the great work!!

@LeeLeeVonMwah 3 года назад

Excellent information, exactly what I was looking for. Thank you so much!!

@scarlettnguyen9627 3 года назад

AMAZING KNOWDGE !! CANT THANK ENOUGH FOR YOUR INFORMATION

@theIdlecrane 3 года назад

Good day Derek, this is fantastic information. I am not in a position to tip all this extra cash into super as a tax deductible salary sacrifice, and put myself into a lower tax bracket, but will definitely be taking it up.

@MrSekon2nun 3 года назад

Thank you again!!!

@tootstweet 3 года назад

This info is gold! thank you

@makeithappen983 2 года назад

Good content - look forward to more videos - thank you

@graham6329 3 года назад

Fantastic webinar, very informative.

@martinhood9451 2 года назад

Excellent content. Thank you.

@charisc8437 2 года назад

Thank you very much, just come across this by chance. It's very good and great information to clarify all my queries.

@stephenkendall839 3 года назад

Great information, thank you very much.

@thatsyummy 2 года назад

I should've watched this video when I start working!

@MoneywithDan 2 года назад

Nice video. Really well done!

@peterbladen969 2 года назад

Thank you this is great information.

@eeeeee9413 3 года назад

this is so good thanks

@quan3691 2 года назад

Most of the information are very much excellent. However, at 9:47, you presented a slide saying “No more contributions to super once your turn 65 years old”. That is absolutely not to what I know through government or other websites. Thank you

@NCRANE-kl2ii 3 года назад

Even if you’re over 65, your employer must make the compulsory super contribution into your super account. Therefore I don't quite understand your slide which states no more contributions once you turn 65?

@w0mblemania 3 года назад

Same here. I can't see anything on the ATO site that suggests an employer isn't required to meet the Superannuation Guarantee for employees over 65 years old. Rather, the ATO's rule seems very simple: an employer needs to pay the SG for all employees.

@mehdichangezi1856 4 года назад

Sooo amazing

@fnbstrader1026 2 года назад

Excellent video as always Derek. I was checking your playlist but unable to find the SMSF video. Can you kindly paste it here? Cheers

@w0mblemania Год назад

An excellent video, thank you. I had a bit of confusion @6:46 You say that to "Receive a lump sum" at preservation age, you must not be working. Does this also apply to income streams? i.e. can you only access an income stream at 60, if you have officially retired? Cheers.

@binaryagenda 4 года назад

Really helpful, thank you. You mentioned that the cap rollover is first in first out? So if in 4 years I pay some extra into super it can come out of this year's cap? If so that's great as my income is tied up for the next few years and I won't be able to make extra concessional contributions until maybe 2024. Also regarding the share repurchase within SMSF you mentioned, how does the fact that the funds are moved into super avoid wash sale rules that would usually apply?

@derekcraignolan 4 года назад

the ATO is working on keeping track of people's superannuation contributions (via ATO portal and MyGov) as it will become important to know when part of your carry forward cap is to be lost.

@timothy7985 3 года назад

Regarding the last example, isn’t it the same if the trust distributes the same amount of superannuation to the mum and dad and then the mum and dad contribute the same amounts to their respective superannuation if the mum and dad are employees of other companies? So, this applies even if there is no corporate trustee.

@yach1d 4 года назад

Great content, as always. What if I do voluntary contributions to my wife's super because she doesn't work, am I capped at 25k a year, or does it double to 50k?

@derekcraignolan 4 года назад

If you have your own business, there are ways she can become an employee and have up to $25k paid to super. but, If you are a salaried employee you can only pay up to $3,000 into your spouse's superannuation fund and receive 18% of it back as a tax rebate in your tax return. However, this is not taxed at 15% by the superfund. This compares very well to you making additional contributions to your own super at say 32.5% tax rate, but losing 15% in tax in the superfund, a net tax of 17.5%.

@awwi979 4 года назад

Brilliant

@dilmal269 3 года назад

what if PSI involved here?

@mpgrewal00 3 года назад

People are dying of complications and heart problems these days. Young people are perishing due to stressful lifestyle. Preservation age should be reduced, not increased.

@AlphaGeekgirl 2 года назад

Not sure where you got your data from… But less people are dying these days which is why we have 20 times the number of nursing homes with people in their 80s and 90s. Also young people perishing? Please provide a source/citation if you are making such claims, because it is very dangerous for people like you to past your opinion off as a fact to other people who are ignorant enough to believe you.