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The Superannuation Guarantee (SG) rate, which had been gradually increasing over the years, reached 10.5% in 2022 and is set to continue rising by 0.5% each year until it hits 12% by 2025. [16] This change aims to enhance retirement savings for Australian workers, ensuring better financial security in retirement.
Directors' remuneration is determined by 'the company' (CA 2001, s 202A). This rule is a default, or 'replaceable', rule and is usually replaced. As usual, the standard is that directors pay themselves. Australia has had a non-binding say on pay since the Corporate Law Economic Reform Program Act 2004 for its shareholders.
Superannuation funds can claim a capital gains tax discount where the asset has been owned for at least 12 months. The discount applicable to superannuation funds is 33%, reducing the effective tax rate on capital gains from 15% to 10%. [8] No discount or adjustment is available if an asset is sold at a loss.
In 1911 the President of the Board of Education established an Advisory Committee on University Grants.This research formed the basis of the predecessor of USS, the Federated Superannuation System for Universities, which was approved by the Board of Education and membership became compulsory for new appointees post 1 October 1913.
If you are nearing retirement age or have become injured or disabled recently, you may wonder if you are qualified for Social Security benefits, including disability assistance, Supplement Security...
The economic reforms pursued by the Hawke–Keating government has been claimed by numerous economic commentators and journalists since to have been the basis for both the modernisation and internationalisation of the Australian economy, and for triggering an unprecedentedly long period of economic growth, with Australia's gross domestic product increasing every year for 30 years after 1991 ...
Total employment in the finance industry (thousands of people) since 1984. Participants in the financial system consist of commercial banks, investment banks, finance companies, building or cooperative societies, credit unions, friendly societies, non bank financial institutions (NBFI), superannuation and approved deposit funds, public unit trusts, cash management trusts, mortgage originators ...
Preapproval: What it is and how it works. Preapproval is a much more comprehensive process than prequalification. Mortgage preapproval is a lender's conditional commitment to offer you a specific ...