General super questions topics

Payment of Super in wrong year

Helpneeded — Thu, 27 Feb 2020 09:31:30 GMT

Hi, my former company paid me no super during the financial year 2018/19, but did end up paying what was owed in a lump sum at the end of 2019.
But this means I have 2 years worth of super to be paid during 2019/20, and as a result I will go over the $25K threshold for the year, when I normally do not.
What is the implication of this and is there anyway I can have the lump sum attributed to the year in which I earned it.
Thanks
Steve

Downsizer super contribution

Kneewall49 — Wed, 26 Feb 2020 07:29:40 GMT

We settled on the sale of our property on 4th July 2018. I assume we meet the date restriction for allowing fir a 'downsizer' super contribution? Is that correct?

thanks

Untaxed Superannuation Funds

BrendonBeh — Wed, 26 Feb 2020 02:48:22 GMT

1. The ATO website suggests the untaxed plan cap for the forthcoming fiscal year will be published in Feb. Can you advise what this cap will be for 2020.

2. Am I correct that the untaxed plan cap operates for members of untaxed funds is effectively the same as how the transfer balance cap of $1.6m applies to taxed funds? Another way of putting this - the $1.6m transfer balance cap does not apply to members of untaxed funds because they have a lower cap (the untaxed plan cap) for which their excess contributions will assessed for tax treatment.

3. If the answer to question 2 is yes (re the operating effects of the caps) - what is the policy behind untaxed plans having a cap lower than that for untaxed funds? Members of untaxed funds are more likely to have larger balances at retirement age due to the compounding effects of not paying tax over periods of time? Given this shouldnt the untaxed plan cap be greater than, not below the $1.6m balance cap?

Superannuation for Terminated Employee

cshallueato — Tue, 25 Feb 2020 22:29:45 GMT

What do you do with returned superannuation from a terminated employee. The employee has been contacted three times by email and twice by a telephone call and still wont provide his current superannuation fund information so payment can be made. What do you do with the returned funds?

SG on purchased leave?

KB7 — Mon, 24 Feb 2020 06:48:36 GMT

Hi, can someone confirm whether Super Guarantee is payable on purchased leave. If my Gross PAYG income is $100K and my employer allows me to purchase leave (get additional holidays) my gross annual income will drop by the amount of $ equivalent for the leave taken. Is SG payable on the original income of $100k or the reduced amount?

I cannot see anywhere references to this sort of arrangement as a Salary Sacrifice. I am not receiving a financial benefit of any sort, just getting more time off for which I am not paid.

Look forward to hearing your thoughts and any references.

Super

Corinne1 — Mon, 24 Feb 2020 06:33:04 GMT

If you work for yourself can you put money into super and does the government match it?

SGC statement

925deed — Sat, 22 Feb 2020 04:39:32 GMT

I am responsible for the super payments for our company. We lodge and pay our super monthly and most times b4 28th. However, in jan 2019 I forgot to lodge the dec 2018 $45k (oct and nov were paid). When I discovered my error on 21st feb I made the dec payment together with the jan 2019 super. All the super was paid by end of June. We report with STP. In oct 2019 ato contacted us and advised records indicated we had perhaps not paid dec 2018 qtr or paid it late and we should submit a SGC statement. We asked our accountants to lodge this on our behalf and now have a $8,800 debt. There were 185 employees involved. $5,200 of this is interest. Accountants say this is ATO tough stance. Given that our employees receive their super monthly not quarterly I did not feel that had been overall disadvantaged by my mistake. This was a genuine misunderstanding on my part regarding the late payment and a one off - can this calculation be correct?

unpaid super

jlpower — Fri, 21 Feb 2020 22:04:13 GMT

I reported my ex=employer for unpaid super. The ATO investigated and I received 2 payments recently as super guarantee payments. They have since stopped and I am still owed many thousands of dollars. I have received no letter from ATO about what the payments were but assume they are part payments from my ex-employer. My employer has recently been evicted from their building but have not ceased trading. What can I now do about this? I am concerned that my employer will be liquidated and don't know what my options are?

Unused Long Service Leave - Salary Sacrifice

KristyH — Thu, 20 Feb 2020 07:32:02 GMT

Hi I was just wondering if you can salary sacrifice your Unused Long Service Leave to your Superannuation Fund?

Transition to Retirement (TTR) Income Tax for person over 60 , but less than 65

TC8 — Thu, 20 Feb 2020 04:41:39 GMT

Person over 60 , but less than 65, had one release from TTR in financial year. Person wants another release but would end up being more than 10% for the financial year.

What are income tax implications for amount up to 10% and the amount over 10%?

Thankyou

Claiming back my super

Simon101 — Wed, 19 Feb 2020 22:13:37 GMT

I have left Oz and my 457 visa has expired but I am unable to claim my super back online.

When I get through the process it tells me that home affairs does not have me registered as having a WHV.

I had a 457 what can I do?

Superannuation for Casual Employees

NicH — Wed, 19 Feb 2020 07:26:54 GMT

I am currently studying tax accounting and i can't seem to locate the correct answer.

Does a company have to pay superannuation to a casual employee for overtime hours worked.

The information I have read seems to contradict and I am unsure of what the correct answer is

Returning to work

Rangadad — Wed, 19 Feb 2020 05:04:17 GMT

Iam 63 and retired and claimed my full amount of super, am I able to return to part time work.

thanks

Compassionate release claim

Narelle1209 — Tue, 18 Feb 2020 08:14:40 GMT

I submitted my early compassionative release claim yesterday it says pending is that right ?

Compassionate release claim

Narelle1209 — Tue, 18 Feb 2020 08:10:43 GMT

My compassionate release claim says pending I submitted yesterday is that right ?

Hearing aids

Kylieh01 — Mon, 17 Feb 2020 03:29:24 GMT

I have been advised by my Super that I can apply to get costs covered for hearing aids (using compassionate grounds), do I need two doctors to verify this or is my hearing specialist adequate to fill in the ATO forms? I do not have a regular GP, the medical centre I go to you see whichever Doctor is available.

TBC figures provide by DB Scheme

mike59 — Sat, 15 Feb 2020 03:47:34 GMT

I am 60 years of age, in a DF Scheme and intend retiring at the end of March 2020. The fund has recently provided me with the estimates at my request for taking my super as a mix of pension and a lump sum. Both of these estimates 80/20 ( Pension/lump sum ) and 75/25 ( Pension/lump sum ) place me near to but not exceeding the $1.6m TBC. If the fund has made any mistakes with these estimates and I unknowingly exceed the TBC based on those figures what action will the ATO take against me and what liability lies with the DF Fund providing incorrect figures?

Retirement condition of release - ceasing gainful employment after age 60

Stuarts — Fri, 14 Feb 2020 04:37:07 GMT

If I am age 61 and working full time and 'resign' from my job but during my notice period agree to stay on as a casual with the same duties have i ceased a gainful employment arrangement? All annual leave will be paid out and as a casual I may not get any hours of work.

Access super due to homelessness

Jade3 — Thu, 13 Feb 2020 21:40:36 GMT

I'm homeless now can I use my super at all I've only been on centre link for 20 weeks

Super Co contribution section A3 questions

Tax2020 — Thu, 13 Feb 2020 05:13:02 GMT

Hi,

I am self employed farmer I have run my business in partnership with my wife for the last 30+ years. We have been making regular small contributions to super. I am under 71 and have a very low super balance. The partnership also has rental property, not negatively geared, which provides income from which we are able to contribute to super. My partner also has income from outside the partnership.

For the last two years I have not received any co contribution payment even though my total assessable income ie net PP(L) and net rental income(P) has been under the ceiling amount.

My partner has received it in both years.

Is this because the business deductions are greater than the business income therefore creating a loss for the partnership business activity

or am I not putting the correct figures in the A3 section of the return ?

Claiming spouse super on divorce

Bazza51 — Thu, 13 Feb 2020 02:39:39 GMT

Hi, just asking the question, if a couple are recognized defacto and have two child under three and split up, what percentage of super is the wife entitled to from her spouse, he is working full time in the military thanks

Super on divorces

Bazza51 — Thu, 13 Feb 2020 02:31:20 GMT

Have I retired for Super Purposes?

JamesF1 — Wed, 12 Feb 2020 05:25:10 GMT

Just turned 60. Preservation age was 55. My income is mostly franked dividends and some bank interest. I drive Uber for 8-10 hours a week making me a self employed contractor. I will not be returning to the paid workforce.
I wish to create an allocated pension and draw the minimum. Am I considered 'Retired' in these circumstances? Or would I be required to cease my Uber driving to be considered so?

Gainful employment

Rod — Wed, 12 Feb 2020 05:11:42 GMT

Shortly, I will be looking after an elderly friend coming home from hospital after major surgery. I will be looking after him every night for the next 4 weeks. Centrelink will pay me a non taxable Carers Allowance while I provide this care.

i am 69 years of age.

Does my care & the Centrelink allowance meet the requirement for “gainful employment” so that I can make further contributions to my superannuation?

Foreign Super

Jones — Wed, 12 Feb 2020 02:27:20 GMT

Hi - I used to work overseas (not UK not NZ) and am trying to transfer a pension into my Australian super accounts. I am aware of the tax implications but the problems is my 2 (well known) Australian supers will not receive roll overs from an overseas pension plan and the overseas pension will not release a lump sum but only to a recognized pension plan. Has anoyne else had these problems and found solutions?

Compulsory withdrawing superannuation each year

mauyork — Tue, 11 Feb 2020 08:10:42 GMT

I have retired and have chosen not to do a allocated pension from my superannuation. How much and when do I have to withdraw 4% ? ( is this correct) each year or tax year?
Thank you
MY

Work test exemption for recent retirees

Mab_n — Mon, 10 Feb 2020 02:13:20 GMT

I am 73 and meet the required work requirements for the previous financial year to make a contribution to my superannuation under the new regulations. I am not sure however how the total superannuation balance is calculated for the purpose of making this contribution. I know that the requirement to make that contribution is for my superannuation to total under $300,000. I am in two schemes - (1) is a NSW government defined benefit pension scheme that has paid a pension since I retired from the full time workforce and (2) is a scheme I have made contributions to when I continued to work after retirement. My superannation in the ATO site under 'Fund details' only shows the funds in scheme 2 where the total is well under $300,000. The NSW government pension scheme (fund 1) does not show any amount under 'Fund details'. However, under 'Total Superannuation Balance' fund (1) is in excess of $300,000. This total I assume is the calculated value of my pension, although I do not have a lump sum in that fund. Am I eligible to make a contribution to fund (2)? Any help would be appreciated.

acess of super

chriscam82 — Sun, 09 Feb 2020 07:14:43 GMT

hi
so i was tring to see if i could acess my super
i dont know how it all works and i had contacted Cbus in nov and they have been sending me wrong forms and trailed off emails that are just generic
i have files a complaint and thats being looked into
i work for myself and end of last year i had 2 customers decide to not pay me and left me short 12,000
so i was really struggling to catch up when i contacted Cbus first but after they screwed me around and finally telling me i have to go through ATO has just left me danglining around
I have bills to pay a bunch of rent due and i cant seem to catch up with what im making im working 7 days a week but just cant seem to catch up them 2 customers not paying me has lesft me so far behind this is my last avenue before declaring bankrupt and i dont want to do that

can anyone help me and explain how it all works and if there is anyways i can acess my super

thank you
chris camilleri

Superannuation for Rideshare Service

pahmad — Fri, 07 Feb 2020 14:52:33 GMT

When I am earning money by providing Rideshare against my own ABN, how would I contribute to my Superannuation? Rideshare is my partime job while holding a fulltime job where my employer pays my standard Superannuation.

SG on Unused Leave on Termination

Noddyparp — Thu, 06 Feb 2020 04:01:53 GMT

Good Afternoon,

I know that SG is not paid on unused annual or long service leave on termination, BUT we have a senior Manager who insists he will be paid SG on these components when he resigns in a month. There is nothing in his contract concerning being paid it. Our payroll system by default won't calculate or pay it either. It would require a work-around.

So the question is "should we pay it"; is it against legislation, is it an organisations decision?

Kind Regards,

Warren Auld (Payroll Manager)

SG Opt-out

SteveKing — Thu, 06 Feb 2020 02:06:02 GMT

Hi everyone,

Assume I work for 3 employers, A, B and C. Each pays me $15,000 Employer Concessional Contribution annually. In total, I have excess concessional contributions from employers A,B,C.

Under the new regime of SG Opt-out, will I be eligible for applying employer shortfall exemption certificates for B and C?

Therefore, (at least one employer) A still contributes $15,000 per year;

B receives employer shortfall exemption certificate but still can contribute $10,000 per year, instead of $15,000;

C receives employer shortfall exemption certificate and contributes nil.

Is it possible? Thank you in advance.

terminated from my job is there an account i can move my super to

themaster_74 — Tue, 04 Feb 2020 11:14:11 GMT

I was recently terminated from my job,

is there an account i can move my super to while i am not working and receiving newstart,

if i am under financial stress how can i access my super

Super on cashed out annual leave

Laura75 — Tue, 04 Feb 2020 04:08:26 GMT

Can you please confirm whether superannuation is payable on cashed out annual leave and long service leave while an employee maintains their current employment (ie the payments are not upon termination)? Thanks

downsizer

annagaruccio — Mon, 03 Feb 2020 22:26:44 GMT

downsizer contribution - i am 65 my husband is 64. we sold our home - can he ontribute $300k even though he is not 65 but I was when we sold it?

Co Contribution

lkchapman63 — Mon, 03 Feb 2020 22:16:18 GMT

My husband isn't working so I was wondering if we pay into his super will he be eligible for co contribution payments?

Lost/found super not worth chasing!

Deejay — Mon, 03 Feb 2020 10:24:57 GMT

Recently found out I have some old super sitting with the ATO. Total between 2 accounts is about $220.00.

As this amount is over $200 a direct credit payment to me cannot be done.

I can claim the money as I am now disabled & on DSP, with M/S & mental issues.

So I'm told to download the PDF application & send it in. No printer!

So off to Centrelink to print off the appropriate doc.

Read the application through, turns out I need 2 independant doctors to sign off on the application for release of my super.

Well I have only 1 doctor, & if I'm required to see a Neurologist to get the necessary sign off then all bets are off as I would be waiting at least 6 months for that appointment & would need to travel some 250klms round trip minimum for this. "Tasmania"!!!

So, pipped at the post before I even begin.

Why does this system have to be so diffucult. It's MY money, the ATO know this, but still I have to jump through beaurocratic hoops to get it. I personally don't have the mental patience to see the process through. Simply not worth the stress & time just for $220

I tried to tell the ATO to withdraw the cash & go to the pub with it, but they've blocked my ISP after the first contact I made via the online contact form.

So, whom ever gets that money, have fun with it;.

Superannuation calculation - construction industry

AS-2020 — Mon, 03 Feb 2020 04:15:14 GMT

Hi,

Can anyone confirm how to calculate superannuation if an employee (standard employment contract of 40hours) works 20standard hours and 25overtime hours? This relates to the construction industry.

Thanks.

Spouse contribution and tax offset eligiblity

James71 — Sun, 02 Feb 2020 10:50:00 GMT

One of the elibility criteria for the Spouse Contribution ($3000 non-concessional for $540 offset) is that the receiving spouse has not "exceeded their non-concessional contribution cap". However, can the receiving spouse have exceeded the annual cap by triggering the 'bring-forward' arrangement with non-concessional contributions (NCCs) and also receive an eligible spouse contribution?

e.g. In 2019-20, if no other NCCs are made can I make a NCC of $294,000 as a spouse contribution and claim the offset?

Can I also contribute $3000 in 2020-21 and $3000 in 2021-22 and claim the offset in those years too?

Indexation of Transfer Balance Cap

THammer — Fri, 31 Jan 2020 03:11:41 GMT

Will the Transfer Balance Cap increase to 1.7 million on 1 July 2020?

PSS Defined Benefit Cashing out leave entitlements to increase superannuation salary

kevbackchat — Thu, 30 Jan 2020 10:05:57 GMT

I am an employee of a commonwealth government department and I am a member of the Public Service Superannuation Defined Benefit scheme. I am looking at retiring at the end of the year and I have heard that if I cash in leave entitlements prior to retiring it will increase my superannuable salary and accordingly increase my Final Annual Salary thereby increasing the defined benefit I will be entitled to. Is this true? Also, as I will only be 55 years of age and under preservation age, is it true that I do not have to pay any tax on my member contributions, which I understand form the tax free component of a taxed source, when calculated as a percentage of my defined benefit pension? Many thanks for any help you could give.

Super contribution for casual workers

Samantha_Woon — Thu, 30 Jan 2020 01:56:15 GMT

Hi,

Just wondering for casual employees where their monthly pay varies (ie. some months it can be more than $450, some months less than $450), do we still need to contribute super for when their pay is below $450 for a certain month?

Thanks

email address - I am in oversea

waiinleong — Mon, 27 Jan 2020 21:07:50 GMT

Dear sir/madam

I received an unclaimed super mail in oversea and would love to follow this up with an email to clearly indicate my questions and hope a fast turnaround through email.

I haven't lost track with my super and do not know any history of them and not sure what is unclaim super coming from. i have lost my tax file number and do not know how to follow this up too and hoping someone can help.

Email is great since we have time zone differences and process still carry on this way , Can I have an email address so this can move farward please. Phoning will never work , a lot of ppl in oversea might not match your time zone and when you are free others might not too.

It will be very helpful to get an email from you guys so the problem could be solved/moving forward. Now i am struck ... Help please!

Accessing my super

Adihelagi1981 — Sun, 26 Jan 2020 21:42:53 GMT

Hi im thinking of moving back to nz to stay for a while, can i claim my super to take with me?
Will i be able to come back and work in australia again and start a new super? Thanks

Turning 65 while on a work visa

Hywels — Sat, 25 Jan 2020 23:29:27 GMT

I am in Australia on a subclass 482 visa and will be working beyond age 65. Will this allow me to withdraw super then without the additional taxes withheld on DASP? Thanks

Downsizer

Stuarts — Thu, 23 Jan 2020 02:59:34 GMT

As part of a divorce / family law payment split one member of a couple is transferring their 50% interest in their main residence to the other member of the couple.

Assuming all other requirements are satisifed can the individual 'disposing' of their interest to the other member make a downsizer contribution to super.

Problems with Superannuation Guarantee Investigation

imisaac — Tue, 21 Jan 2020 23:38:50 GMT

Hi, I'd really appreciate some assistance here.

I left my job back in early June and made some attempts to ask my boss to pay my super, but they were unsuccessful. And due to other factors I was experiencing in my life, I ended up giving up on receiving that super.

However, a few months ago now, my boss called me up asking for my super details as he said he was getting audited by the ATO and didn't want to get into trouble for not paying any of his employees super. So I supplied my details, and this dragged along for so long that in the end I placed an investigative form with the ATO hoping that they would be able to help.

In mid december, my boss finally sent an email stating that he had paid the super. Now I talked to my super provider a few days ago, and they said that it would take maximum 14 business days for a payment to clear, and that payment was over one month ago so now I'm unsure if he really had paid. This is the same case with another employee I was speaking to.

I ended up receiving a message regarding that investigation I put in, and it's saying that through the investigation they found that my boss was owing me ~$66, which is not even close to what I'm owed. I even have written confirmation, in the form of an email, from my workplace stating that the super they owed me is $820.

So being quite confused at the massive discrepency, I ended up calling the ATO this morning and was basically told "sorry, that was all we could find. You'll just have to place another investigation or talk to your boss". Surely they can do more than that? The ATO has access to my payslips from when I lodged my tax return, and they can see my super balance is 0 meaning by boss hasn't already paid anything, so wouldn't they be able to understand that the investigation amount should be higher than $60? Plus, shouldn't the written confirmation from my boss saying he owes me $820 mean something?

I'm just wildly confused here and slightly annoyed, so if anyone could maybe shed some light as to what steps I should take next I would really appreciate it. Cheers

Death benefit tax

JJ1979 — Tue, 21 Jan 2020 15:44:01 GMT

Hi! Found myself in some unfamiliar territory and trying to work out the approximate tax that will be paid on a death benefit that has gone to a deceased estate to be paid to a non dependent beneficiary. Total death benefit is 140k. Anyone have any advice?

Superannuation claim back

harrycole94 — Tue, 21 Jan 2020 12:53:07 GMT

Hi,
I left Australia almost 6 months ago, but my visa is still valid until may. Do I need to cancel my visa before 6 months has passed to claim back my superannuation. Or is it ok to wait until my visa expires then claim. I don’t want to be at risk of not being able to claim it back after 6 months.
Any advice would be greatly appreciated, many thanks.

Super

Paullong — Tue, 21 Jan 2020 09:23:55 GMT

Superannuation paid to LPR

Georgina — Tue, 21 Jan 2020 00:49:51 GMT

Hi,

If the deceased left a valid BDBN to the LPR of the Estate, the Executor would ultimately distribute the benefits according to the instructions under the Will. If the beneficiaries under the Will were death benefit (tax) dependents, the ATO will seemingly look through the Estate and those beneficiaries should receive the superannuation as a tax-free lump sum. My question is, does the relevant Superannuation fund withhold the tax prior to depositing same into the Lawyer's trust account (as they are not to know the intended recipient is a tax dependent) and is the tax withheld at the maximum rate of 15% (taxed element) + Medicare Levy? If so, are those tax dependent beneficiaries entitled to a tax credit for any tax withheld by the Superfund, given they are entitled to benefit from the death benefit as tax free (S 302-10 ITAA 1997) and would not have paid tax if the BDBN nominated them directly, rather than paying into the LPR first.

Low income super qualification for 15 year old

NNN — Mon, 20 Jan 2020 09:21:47 GMT

If my 15 year old works for me as a casual worker earning approx $2000/year and pays there own money in to super, do they qualify for the government $500 contribution?

I do not own a business.

Super Rewards program

Nathanael — Mon, 20 Jan 2020 04:31:07 GMT

I'm researching the value of using a relatively new program called "Super Rewards". They'll make non-concessional contributions to your super when you shop through their portal. I just wanted to check if these contributions would be eligible for the governement's co-contributions or not.

Thanks for any advice.

Superannuation on Commission that on top of OTE

Chels147 — Mon, 20 Jan 2020 02:43:38 GMT

Hi we have an employee who is full time on a weekly wage. We also pay him a commission on equipment sales throughout the year which is on top of his ordinary time earnings. Should we be paying superannuation on his commission in this case (we currently are)?

Thanks

Chelsea

Contributions splitting - my contribution lower so i can add more concession contribution?

jammwatch — Sat, 18 Jan 2020 09:41:51 GMT

If my employer contributions is 20k and then i decide to split of contributions 85% (17k) to my wife who does not work.

Is my total contribution now only 3k and thus, i could make a concession contribution of an extra 22k into my superannuation account so it reaches the maximum of 25k cap?

Ref: LINK: https://www.ato.gov.au/Forms/Contributions-splitting/

I would also like to understand if my wife would be paying the 15% tax within her superannuation account or i am taxed and then she only gets 14.45k (15% tax of 17k) into her super account?

Superannuation co-contribution eligibility - total income calculation?

jammwatch — Sat, 18 Jan 2020 09:12:11 GMT

Hi,

Question regarding the total income calculation as a little unclear on meaning of total income and/ or assessable income.

My PAYG salary is 20k (only working quarter of the year)
- Gross property rental income is 40k
- however net property income is +5k.
- shares = 5k.
I should qualify for 10% eligible income test as salary any calculation of income will be greater than 10%.

I am unsure about 'income threshold'

Q1.
- Is total income calculated as 20k (income) + 40k (property) + 5k (shares) = 65k, OR. 20k + 5k + 5k = 30k?
- Documents say total assessable income however does not mention property deductions to be included(only business deductions)?

Q2. So I need to make up to $1000 personal super contribution to get the $500 government contribution.
- If I also decide to make an additional concession super contribution of 10k - will that affect the $500 government contribution?

Q3. If my husband also does the contribution splitting into my super, will that have any affect on the $500 government contribution?

thank you for the clarification.

Early Access to super due to medical

Oysterboy — Sat, 18 Jan 2020 06:26:47 GMT

Hi - I'm applying for early access to super due to my terminal medical condition. In the application, do I include my health fund excess of $750 as part of my costs of treatment, or, is it just Dr's costs?

Thanks

Divorce 401k payment

MoiBloke — Fri, 17 Jan 2020 07:53:36 GMT

Part of an Australian Family Court divorce order was for the ex to pay me USD400k form a 401k fund.
Instead of giving me the actual dollars in Oz, a US401k fund was created in my name and the monies deposited into that account.
What tax liability will there be for me if I xfer the money to Oz. Subject to ATO rules on super I'd want to add it to my Oz super.
I'm over 65 and made redundant 6 months ago.

Consolidating super funds when a fund is not reported

ross85 — Thu, 16 Jan 2020 21:04:55 GMT

Hello,

I just finished working a job and was wanting to consolidate my super. At the moment the super fund I am wanting to transfer funds from says the balance is not reported. Should I wait till after October 31 to do the transfer or is it safe to do it now and it will automatically update at the end of the year?

Thank youj.

Superannuation 10% eligible income test

Mike101 — Thu, 16 Jan 2020 06:36:08 GMT

Is the aged pension allowed as eligible income, for the 10% eligible income test, to qualify for the Government Super Co-contribution ?

Working after retirement

sylvests — Thu, 16 Jan 2020 06:09:23 GMT

I am 62 and a self employed professional working about 26 weeks spread unevenly over the year. I work as a contractor.

I am considering enetering the pension phase of my superannuation.

1. Do i need to cease all work in order to do this (and if so for how long)?

2. Is there a restriction on how much I am allowed to work? And can this be averaged out over the year?

I have read various responses to some of these question on this and other financial sites and I must confess I am left a little confused!

Super contributions

Wayne37 — Thu, 16 Jan 2020 02:59:01 GMT

Hi can I work for my daughters small business for 10 hours a week $10 hour for 4 weeks to meet work test to deposit i$100000 into my super.

Downsizing contributions

sonia-boutcher — Wed, 15 Jan 2020 01:27:44 GMT

I am retired and have sold my unit and wish to find out if there are there any tax implications if I deposit up to $300,000 into a super account.

Eventually I will be purchasing another property to live in.

super transfer

Ky71 — Mon, 13 Jan 2020 10:04:10 GMT

I just went in and transfered one super into my other super account ... but I transferred them the wrong way am I able to to stop the transfer as it is still pending and if so how ... help

Super payment to the only employee of the company

sherlynneoh — Mon, 13 Jan 2020 09:15:30 GMT

I am the sole shareholder and director of the company. I am also the only employee of the company and receive salary from my company.

what is the easiest way for me to pay and lodge my super with superstream way? Can I pay directly to my super fund and lodge to them directly as well?

Thank you.

ATO held super

hayleighgrima — Mon, 13 Jan 2020 04:56:14 GMT

Hi, in early November I tried to consolidate all of my super as I have 4 accounts. 1 of them cannot transfer to my current fund (what do i do about this?) and the other is ATO held super, its been pending for over 45 days and it does not give me any options of what to do next, maybe i cannot transfer this one either, what do i do from here?

Thankyou

Super

Chelseahem13 — Sun, 12 Jan 2020 23:22:04 GMT

Hi there,
Before I use to consolidate on my commonweath app showing the full amount, when my visa ended I went to use the ato website and it said I had less than what my bank app said. So I transferred one super to another on the ato website and it’s still transferring after a month, what do I need to do when it’s showing the full amount on with commonwealth but not with ato? and how long does it take to transfer?

Tax threshold on super payout

Beachcomber — Sat, 11 Jan 2020 08:48:21 GMT

Hi everyone, wondering if we could have confirmation that there is nil withholding on a super payout if the sum is under the threshold of $225,000. The person involved is 59 years and has retired.

Tax return

Angry2020 — Fri, 10 Jan 2020 06:24:48 GMT

The ATO has had my tax return since the 16th October 2019,who can I speak to about getting it sorted out

Downsizer contribution eligibility

dc57 — Tue, 07 Jan 2020 05:08:05 GMT

Does the 10 year home ownership eligibility rule for downsizer contributions start when you purchase a block of land to build your home on, or is it when home construction is completed?

What exactly constitutes "Termination of gainful employment"

JonL — Fri, 03 Jan 2020 18:01:28 GMT

I am 59 currently working in the UK and about to return to Australia to retire permanently. In association with this move, I will need to access some of my Australian superannuation savings before I am 60. Problem is, my contract with my UK employer requires that I take any unused holidays before what are only four possible fixed resignation dates each year (31 March, 30 June etc, ). Thus, the day that I will actually stop working will be more than one month before the last day I for which I am paid.

So, does anyone know if its OK to consider my "Termination of gainful employment" as the former date (i.e. when I physically stop work). Or do I have to wait until I have used up all of my outstanding leave balance before I can claim my super.

Thanks

jon

Super contribution on separation

kerwinator — Fri, 03 Jan 2020 12:53:04 GMT

Hi team. I have just left a role and in my final separation work deducted the equivalent super payments from the final amount. I.e. I had 16 weeks of annual and long service leave paid out, but they also deducted 16 weeks of super. My understanding is that this is incorrect as this should not form a part of my etp. Firstly, is this assumption correct, and secondly, is there a way of getting this money back?
Cheers,
Chris

Non-Resident Employer & Superannuation

Lena — Fri, 03 Jan 2020 04:52:57 GMT

Hi. I’m a resident for tax purposes and work full-time in and from Australia for a non-resident employer in Europe, who pays my salary in Euro to a European bank account. This is reported as world income and taxed in Australia accordingly.
However my non-resident employer does not pay any super. Would they be required to pay the national super guarantee into my Australian super fund although being a non-resident employer? If they are required to do so, do they face any penalties?
If they are required to pay super, but won’t, would I as the resident for tax purpose then be liable for that amount? If they’re required to do so, how could it be enforced as they’re a non-resident employer?
Thank you for your answers.

University stipend and super co-contributions scheme

Julieteb — Thu, 02 Jan 2020 13:32:17 GMT

I am completing a post-grad university degree which comes with a modest annual tax-free stipend (no super). I’d like to contribute to my super during these three years and am wondering if I would qualify for the government’s co-contributions scheme. I won’t have any income (for tax purposes).

Super co-contribution eligibility

dean197 — Mon, 30 Dec 2019 05:13:09 GMT

I am an Australian citizen living in New Zealand. I still have an Australian super account with Australian Super. Does living in New Zealand disqualify me from being eligible for the Australian Governnment super co-contribution (assuming I qualify in all other ways)?

Employee help: employer superannuation comtributions

Dylaneedoherty — Thu, 26 Dec 2019 10:47:52 GMT

I commenced work with a new employer over 12 months ago. I recently logged into my superfund account and noticed that even though I had paid annual insurance on my super, my account had become inactive due to no contributions being made for over 12 months. I then logged into the ATO and have found that my employer has lodged employer superannuation contributions, however, it has been deposited into an account I did not provide. I assume their bookkeeper has entered my correct account member number but has nominated a superfund I have never heard of which has created a superfund account with my name but I am unable to access it as I it has not been intentionally created. I know I am able to combine the two accounts myself, but I am concerned about the fact that my original super (the superfund I have had my entire working life, with quite a lot of super) is now not insured, and I have had to pay two lots of administration fees (more for my nominated account as it has not had any contributions for over 12 months). I know I should contact my employer to advice them of this discrepancy, but I’m wondering if there is any point? I know I am able to combine both super funds, and I’m about to be signed up into another employment contract within the next couple of months so I will fill out another detail form with the correct superfund details (although I’ve filled out two in the last 12 months and my super details were never updated). Can I be reimbursed for the administration fees that have been deducted due to it not being my error? Another thing is that I opted into salary sacrifice being deducted weekly, but it appears the additional super contribution is being deducted monthly. Is there anyway I can contact the ATO for legal advice? The enquiry form I found requires an employer ABN, and I want know the facts prior to approaching my employer or my employer being notified as I do not want to report them prior to discussing this with them first.

When to collect super

Julia94 — Sat, 21 Dec 2019 06:01:46 GMT

Hi there! I have held a working holiday visa and have lived in Australia för 2 years and I am now back in Europe (I am not an Australian citizen). Can I only collect my Superannuation all at once? It is currently december and I can collect my super, however, since I worked the last few months in Australia, I will need to take out the super from 2019 as well.

So my question is if I can take out the first part of my super now, and secon in a year or should I just wait one year and take it all out at once? Do I have a deadline to collect my super from overseas?

Help is much appreciated. Thanks!

Allowances and required superannuation payments

crbutcho — Fri, 20 Dec 2019 05:44:09 GMT

A staff member is paid a 'sewer' allowance that used to be paid upon working in sewer locations but is now paid weekly as part of their pay, regardless of whether they are required to work in a sewer location. Is super payable on this type of allowance?

Super Contributions by previous employer

Skyy3662 — Fri, 20 Dec 2019 03:49:41 GMT

I have recently gained new employment but have noticed that my previous employer has some 'employer superannuation contribution liability' when I look at the 'income statements' section. My previous employer made contributions to/through (not sure of the correct term) their default super fund and was wondering what to do in order to gain these contributions as it does not appear in my total superannuation balance. There are also no recent super details available when I go to employment details and press the arrow beside the company's name. (My employment with the previous employer ended in January 2019)

Would it be possible to undergo the 'new employment' form or would this overwrite my current employment with my new employer (I have been employed since October 2019)?

UK lump sum pension

Lindap — Thu, 19 Dec 2019 09:12:14 GMT

I have been advised that I am eligible for a UK pension lump sum for the years I worked in the UK prior to coming to Australia in 1980. As I was working in Australia during these years my UK pension was deferred and have only been retired here for 3years will this one off lump sum affect my Australian aged pension? Will I have to pay tax on it here if the UK take tax out prior to me receiving the amount?

Over 65 and super

geoff2boys — Mon, 16 Dec 2019 03:30:28 GMT

If I am over the age of 65 and have closed my super account and then do some paid casual work do I have to open another super account (I use an Industry Super fund)?

Superannuation Work Test

Pete13 — Sun, 15 Dec 2019 18:09:33 GMT

I will be 67 before June 30, 2020. I will finish full time paid employment on Feb 29, 2020. From March 1 2020 I will be a contractor with a personal Pty Ltd company. I estimate I will have paid work for 100 days in the 2020/2021 tax year. Will this meet the Work Test for non-concessional super contributions?

Bring Forward Rule for 64 Year Old

Jennie — Fri, 13 Dec 2019 09:23:50 GMT

I am 64 years old, retired, and have recently received an inheritance. I turn 65 in September 2020. Can I, according to the bring forward rule, contribute $300,000 to my superannuation this financial year without a taxation penalty, even though I will be 65 and then 66 in the years that are being brought forward (and not working)?

Claiming tax deduction for contribution after retirement

Swampy — Fri, 13 Dec 2019 09:18:57 GMT

Is it possible to make a contribution into a super fund in accumulation mode and claim a tax deduction, whilst drawing down from a totally different fund in pension mode? (No longer working, aged between 60 & 65). Both funds are industry funds.

Withdrawing super while working over age 65 and still making concessional contributions

ptclarke — Fri, 13 Dec 2019 00:51:54 GMT

I am a sole trader over 65 still working and making concessional contributions but would like to withdraw a some super for a specific purpose, will this (a) still be tax free; (b) affect tax deductions claimed for concessional contributions in current tax year; or (c) affect my ability to continue to make concessional contributions in future?

super for workcover

SW2019 — Fri, 13 Dec 2019 00:49:48 GMT

Hi,

we have a worker injury at work and we have to pay the two weeks wages to employee with set amount calculated by workcover.

so, is this two weeks wages attract the 9.5% super?

Super paid directly to fund after an SG Charge statement lodged

SuzeB — Wed, 11 Dec 2019 03:38:24 GMT

Hello

I work as a bookkeeper and I had a business owner contact me asking for advice on his super. He has one employee and had not paid any superannuation contributions for the last financial year. I advised him to lodge a super guarantee charge statement for the 4 quarters which he did. However a week after this his then lodged and paid the super directly with the super fund. (Even though I had told him he didn't need to do this).

He has now received the payment notice from the ATO and wants me to fix this. I thought he would be able to lodge an amended SG charge statement and claim a late payment offset but I see now that the payment must be made before the original SG charge assessment was made.

Is the only option that he carry the late payment forward for future contributions? (He has already paid the September qtr) Does he need to notify the fund or the ATO of this election?

Objecting to ATO decision to reject superannuation early release compassionate grounds

missmorgan90 — Tue, 10 Dec 2019 19:38:05 GMT

I have recently submitted an objection form to the ATO in relation to their decision to reject my compassionate grounds early release. I am wondering if anyone could tell me how quickly, in their experience, did the ATO respond to your objection? Is there a number I can call to speak with someone in relation to this?

Bringing my 401K contribution to Australian Super

Hi_There — Tue, 10 Dec 2019 05:11:13 GMT

Hi Everyone,

I would like to bring in my 401K contibution from US to my Australian Superannutation account. May I know what are the tax inclusions?

Appreciate your help in advance!

Super taken out of bonus

Rickie — Mon, 09 Dec 2019 09:08:52 GMT

Hi, my employer pays super in addition to my weekly salery , however takes super out of my monthly bonus. Is this correct? It has only just started this financial year, as I wasnt getting paid super on my bonus previously.

i work in sales and have a monthly target to reach to get the bonus.

Thanks in advance

Is superannuation payable on time in lieu?

StaceyS — Mon, 09 Dec 2019 06:20:39 GMT

Hi there,

We currently allow employees to accrue time in lieu above their ordinary hours (usually 38 hours) per week. They are allowed to either:

Take a day off when they've accrued 7.6 hours
Have the time in lieu paid out (cashed out) during their normal course of employment
Paid out any outstanding entitlement upon termination

The time in lieu accrues at hour for hour and not at overtime rates. Can you advise whether we should pay superannuation guarantee on the above?

Thanks.

Un-paid Superannuation

SamanthaB — Thu, 05 Dec 2019 23:03:33 GMT

Good Morning

My husband has not been paid any superannuation for the last 12 months - or effectively the whole time he has been with this employer. His employer has told him that they have set up payments with the accountanct and it is deemed as an ATO debt so the funds will take a long time to get to his super fund as it goes through a few different processing channels.

How long should this take? It has been 5 weeks since he was told a payment was made. How long should we leave it before taking this further?

Thankyou!

Fortnightly Cont. Salary (FCS) vs. Ordinary Time Earnings (OTE) and Shift Loading

lfthnd123 — Tue, 03 Dec 2019 19:30:41 GMT

Hello,
I'm just after a little bit of feedback/clarification regarding the difference between the fortnightly contribution salary (FCS) and Ordinary Time Earnings (OTE), and whether my employer should be including shift loading/allowances in the superannuation calculation.

In the PSSaP Employer Training Information document, it states (Page 11):
“A member’s superannuation salary can be calculated as either their fortnightly contributions salary (FCS) or their ordinary time earnings (OTE), depending on which arrangement is in place for a particular member or group of members.”

In my Employer's Enterprise Agreement, they agree to pay superannuation on our fortnightly contribution salary. Also in the PSSap Employer Training Information document, it states:

The FCS is determined in the same way as the superannuation salary is calculated for a PSS member. This is 1/26 of the greater of:
 the member’s annual salary on commencement
 the member’s basic salary and any recognised allowances being received on the member’s birthday
 the highest salary and any recognised allowances received during the period from the previous birthday until the eve of the next birthday, subject to the salary maintenance rules.

In Table 1 of this document, it provides examples of FCS allowances, including:

Higher duties allowance, parliamentary employment allowance, restriction allowance, allowance payable in lieu of overtime or extra duty, allowance payable in compensation for physical hardship or discomfort associated with particular duties, allowance for special duties

but there's no mention of shift loading/allowances, even though it's clearly outlined in the Superannuation Guarantee Ruling (SGR 2009/2) that shift loading should be included in the calculation of superannuation/ in the definition of the OTE.

For reference, if annual leave is taken during a shift, I still get paid our shift allowance, whereas if it was classified as 'overtime', we wouldn't be paid. This shift allowance is paid on each shift, averaged out for the entire year.

I'm wondering if anyone is in this situation? Should shift loadings be included in what's defined as a Fortnightly Contribution?

Thanks.

How do I find out whether I contributed to a super scheme?

SydSerena — Mon, 02 Dec 2019 15:24:31 GMT

Hi, I am an Australian citizen and very briefly worked as a public servant in 1990-1991, then departed Australia for good.

I know there was a compulsory super scheme for public servants then, but I have completely lost track of anything I may have (or may not) contributed. Now that retirement is fast approaching for me, I would like to know whether there is money waiting for me somewhere.

How do I go about it, seeing I only know my tax file number but nothing about the scheme?

Thank you.

downsizer contributions into superannuation

3fluffies — Fri, 29 Nov 2019 03:42:01 GMT

We are a 69 year old couple in the pension phase of superannuation and a part centerlink pension. We bought land in 2008 with the eventual purpose of building a house and living there. In 2015 we moved onto the land to live in a caravan while our house was being built. We are now in the process of selling this house. Are we eligible to claim the downsizer to super benefit having owned the land it is on since 2008? We did own our primary residential property till 2015. we sold this to fund the building of the new house.

Super Contributions

rkiddle — Fri, 29 Nov 2019 00:37:04 GMT

Is an employer required to contribute super for a full-time employee when the employee is aged over 75 years? If so, how is the super taxed?

RE: Lost Tax File Number

ericheng — Thu, 28 Nov 2019 07:34:17 GMT

hihi there,

I had forgotton my Tax File Number, please advice...

Making catch-up concessional contribution (who only started work in FY2020)

ET3000 — Thu, 28 Nov 2019 06:23:45 GMT

Hi ATO,

I have not worked before and had no superannuation as of 30/06/2019.

If I started to work in this financial year (FY2019/20) can I rollover my unused concessional contribution cap from last year (FY2018/19) and contribute up to $50,000 before tax?

Regards,

Super on Broken Shift allowances, clothing/laundry allowance and overtime

9628greg — Thu, 28 Nov 2019 03:31:27 GMT

Hi,

I am on the managing committee of a small not for profit before and after school care operator,

I am uncertain about whether I should be paying super on allowances and overtime

The employees get paid a "broken shift allowance" a payment for a time gap between the morning and afternoon of their shift. My impression is that this would be superable

They get paid a clothing/laundry allowance - I guess this might be nonsuperable as it is expected to be expensed?

Am I correct that all overtime is non superable?

Thanks

Greg

superannuation guarantee calendar month

justchecking — Wed, 27 Nov 2019 06:41:14 GMT

How is a calendar month defined for the Superranuation Guarantee?
I've looked all over the ATO and associated websites but I can't find a clear definition.

There's two dictionary definitions:

Definition of calendar month

1 : one of the months as named in the calendar

2 : the period from a day of one month to the corresponding day of the next month if such exists or if not to the last day of the next month (as from January 3 to February 3 or from January 31 to February 29)

I've always assumed it was the latter - from a particular date of one month until the same date in the immediately following month.
My recent casual employer seems to be calculating the SG on the basis of the first definition:
each discrete named calendar month, that is from the first day of the month until the last day of the month.
That means if one $400 payday falls before just before the end of October, and the next $400 payday at the beginning of November according to their reckoning no SG is payable

- $400 in the month of October, $400 in the month of November so not more that $450 in a 'calendar month' despite being paid $800 within a 15 day period.

Specifics of periodic wage payments:

October 18 - $389.81 (for work performed 18 Sep - $91.72, 2 Oct - $298.09)
November 15 - $493.00 (for work performed 8 Oct - $91.72, 1 Nov - $401.28)

However the employer only made SG contibutions for the second payment of $493.00 in November, not the combined payment total of $882.81 within a 29 day period.

Which is the correct working definition of Calendar Month for ATO SG purposes, and

Should my casual employer have paid SG on the full amount of $882.81 rather than just the solitary discrete named month of November and $493.00?

Thanks.

Super on referral payment

LeisaJ — Tue, 26 Nov 2019 22:48:49 GMT

I am due to recieve a payment in my next pay for referring a friend to the company I work for. Would this payment be considered OTE and superannuation payable?