BIS Super

14/02/2023

Good news for members! From 1 July 2023, the transfer balance cap is set to increase from $1.7m to $1.9m, bringing even more benefits for non-concessional contributions.

With these changes, you'll have more flexibility and control over your . To learn more, check out the latest update from the SMSF Association website: bit.ly/SMSFASuperTBCIncrease

To find out how this affects you and your , get in touch with one of BIS Super's SMSF specialists on 07 5598 3800.

The General Transfer Balance Cap (TBC) is set to increase from $1.7 Million to $1.9 Million, from 1 July 2023 – with flow-on impacts to the ability to make Non-Concessional contributions (NCCs).

13/02/2023

Happy Valentine's Day from BIS Cosgrove!

Today we're celebrating our love for all things , , and . It may not be the typical definition of romance, but it's the foundation of a strong financial future.

We also want to share our love for all of our amazing clients. Your continued support and loyalty means the world to us. So, let's raise a glass to a love that's strong, steadfast, and always there through the ups and downs.

Happy Valentine's Day to all!

13/02/2023

Attention couples! Have you considered the possible benefits of combining your ?

By joining forces, you have the potential to reduce costs, boost your , and even reduce your . By pooling your resources, you could have access to a wider range of investment options and potentially increase your savings for the future.

And, if one of you is a low-income earner, you may be eligible for a tax offset.

Start your financial journey together and make the most of your savings. Get in touch with the BIS Cosgrove team to discover your options when it comes to growing your super.

Contact us on 07 5598 3800 or [email protected]

07/02/2023

DID YOU KNOW?

By setting up an (Self-Managed Super Fund), you can take control of your money, investments, and costs in a way that's not possible with a standard fund?

With an SMSF, YOU become the trustee and have the power to make your own investment decisions, choose your investments, and manage your assets.

This means you can tailor your retirement savings plan to meet your own unique needs and goals.

It's important to remember that SMSFs come with added responsibilities and regulations. Want to know if an SMSF is right for you? Get in touch with one of BIS Super's Certified SMSF Specialists! Give us a call on 07 5598 3800.

08/06/2022

03/06/2022

The Government wants to co-contribute $500 to your superfund!

Find out more here:

The Government is offering co-contributions to your super of up to $500 To reward Aussies for putting their own money towards their retirement savings, the Government is offering co-contributions to super of up to $500! If you meet the eligibility criteria for the co-contribution scheme, the Governm...

08/03/2022

The requirement age to make superannuation contributions under the Downsizer Scheme is reducing!

As of 1 July 2022, individuals aged 60+ (reduced from 65+) will be permitted to access Downsizer contribution measures.

Find out more here: https://bit.ly/DownsizerScheme

At the beginning of February 2022, the Australian Government passed The Treasury Laws Amendment (Enhancing Superannuation Outcomes For Australians and Helping Australian Businesses Invest) Bill 2021. The aim of the Bill is to increase flexibility for individuals preparing for retirement, increase su...

08/03/2022

First home buyer? Recent superannuation legislation changes could see you on your way to faster savings for the purchase or construction of your first home.

Find out more here: https://bit.ly/SLFHSSS

At the beginning of February 2022, the Australian Government passed The Treasury Laws Amendment (Enhancing Superannuation Outcomes For Australians and Helping Australian Businesses Invest) Bill 2021. The aim of the Bill is to increase flexibility for individuals preparing for retirement, increase su...

18/02/2022

**SCAM WARNING - SUPERANNUATION**

The ATO is raising concerns on the increase in scams involving fake superannuation investments targeting SMSFs.

Scammers are targeting people and are pretending to be advisors and super experts. They are then requesting personal and financial information and transfers of funds into accounts they hold.

It is integral that you always verify who you are dealing with before providing any personal or financial information via phone or email to avoid falling victim to these malicious scams.

Visit here for more information on how to recognise and report scams: https://moneysmart.gov.au/how-super-works/superannuation-scams

The ATO has raised its concerns on the increase in scams involving fake superannuation investments targeting SMSFs.

18/02/2022

Changes are being made to Superannuation Legislation regarding the Work Test.

Find out how these changes may benefit you:

In February of 2022, the Australian Government passed The Treasury Laws Amendment (Enhancing Superannuation Outcomes For Australians and Helping Australian Businesses Invest) Bill 2021. The passing of the Bill intends to increase flexibility for individuals preparing for retirement, increase superan...

18/05/2021

ASIC is warning Australians of scam callers that are targeting their superannuation balances.

The regulator has warned of rising scams that are targeting Australians establishing SMSFs and the rollover of their superannuation balances.

16/02/2021

With much to consider when it comes to SMSF over the next 12 months, it is essential that trustees remain alert and vigilant going into 2021.

Whilst there has been very little change in legislation relating to SMSF's lately, it is essential that trustees remain alert and vigilant going into 2021, as there is still much to consider when it comes to SMSF over the next 12 months. Trustees will be faced with