Industry superannuation sector slams Morrison government changes to performance test afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.
Australians can boost their superannuation and halve the amount of tax they pay.
From July 1, 2021, workers will be able to put up to $27,500 a year into their retirement savings, up from $25,000, and only pay 15 per cent tax.
That is half the usual marginal tax rate of 32.5 per cent for most workers earning between $45,001 and $120,000 a year.
The 15 per cent concessional rate is a third of the 45 per cent rate for those earning more than $180,000.
Accountant Ben Johnston, the director of Johnston Advisory, said workers could ask their employer to top up their superannuation through salary sacrificing.
Australians can boost their superannuation and halve the amount of tax they pay. From July 1, 2021, workers will be able to put up to $27,500 a year into their retirement savings, up from $25,000, and only pay 15 per cent tax (stock image)
Qualitas makes board appointment moneymanagement.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneymanagement.com.au Daily Mail and Mail on Sunday newspapers.
The Governor General was handed the report of the aged care royal commission on Friday. It will be made public in the coming week.
Overlaying its considerations has been Australia’s 909 deaths from COVID-19, more than two-thirds of them (685) people in aged care facilities.
It has to be recognised that COVID accounts for an extremely small share of deaths in Australia, and even deaths of senior citizens. 127,082 Australians aged 70 and over died in 2019. To date 851 in that age group have died of COVID.
Some good might come from these sad deaths if they prompted us to think about where we are likely to die.