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Superannuation Changes from 1 July 2018

1 July for many individuals is a significant date. The financial slate is wiped clean, the numbers reset, the forecasting or budgeting done, here we go again.

1 July is also generally the date that the rules change.

The Federal Government's 2017 and 2018 budgets had many changes that impacted superannuation and superannuation strategy.

Here are two that commence from 1 July 2018.    Read more…

New Directors appointed

We are very proud to welcome two new Directors to Johnsons MME as of 1 July 2018.

Dale Goonan, 33 and Stephen Hogan, 38 are not new faces to Johnsons MME. Both have been with the organisation for 15 and 16 years respectively. Read more…

Do you need a binding death nomination?

Did you know that your superannuation benefits do not automatically form part of your estate and so cannot automatically be dealt with under your will?

Under superannuation laws, if you should die and you do not leave a valid binding death benefit nomination (BDBN), the trustee of your super fund decides which of your dependents will receive your super. The only way to ensure that your superannuation benefits pass to those you wish to benefit is to leave a BDBN, which instructs the trustee how to pay your death benefit. As long as the BDBN is valid, it is legally binding and the trustee must follow it. Wills or non-binding nominations are not legally binding on the Trustee. Read more…

Setting the ground rules

When two or more people go into business together they are acknowledging that together they can achieve more than what they could have if they went into business on their own.  There is no doubt then when people first think of going into business together, there is usually lots of optimism and positive energy.  What people rarely think about at this time is what happens when it ends? Read more…

Proposed Changes to Super Outlined

Superannuation was a key focus in the 2016/17 Federal Budget and a number of changes were put forward. While the nation waits to see what will actually get through parliament, we outline what the proposed changes were below, in case you may have missed them. Read more…

Your Structures

Your structures. Not your homes, not your warehouses, not even the old hay shed that's near to falling over. They are the legal entities you use to operate your businesses and to accumulate your wealth. They are companies, partnerships, trusts of all sorts, self-managed superannuation funds or combinations and variations of all of these.

Successive governments have tended to 'fiddle around' with their treatment of business structures. Some of these fiddles have been positive (think small business CGT concessions or dividend imputation) and some have definitely made our life, well, more challenging (think Division 7A, changes to trusts and the like.) Read more…