Tuesday 19 Jun 2018
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Latest Accounting News
Hot Issues
Touch Payroll (STP)
‘Calm before the storm’: Government proposes 12-month SG amnesty
Government intensifies cash payments crackdown - Kelly O'Dwyer
Passive investment companies tax rate still 30%
Cryptocurrency audits tipped to increase this EOFY
Australia by numbers – Update
$2.4m lost to tax scams, ACCC reports
No GST on digital currency
Federal Budget 2018 - Overview
Your Budget
4 components of our 2018 Federal Budget
Resources to help understand and implement Single Touch Payroll (STP)
New rules capture SMSFs trading big with cryptocurrency
New passive income test for lower corporate tax rate
Tools to help you manage your financial position are available on our site.
‘A simple mistake can attract our attention’: ATO reminder about FBT slips-ups
Australia by numbers – Update
Beware residency rules if moving overseas
Meaningful tax reform in high demand
Working holidaymakers and tax returns
Single Touch Payroll – 1 April 2018 Action
Property investors on notice after ATO spots false claims
ATO issues update on cryptocurrency compliance traps
Australia's vital statistics
Accountants spy elder abuse spike as mortgage stress sets in
Tax office releases fresh guidance on SMSFs
Labor's tax plans could favour the rich, analysis shows
FBT Reminder – Odometer Reading
Our website is really our digital office.
‘Substantiation will be a key focus’: ATO drums in tax time 2018 hit list
Super changes: $1.6 million transfer balance cap and death benefit pensions
Articles archive
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Quarter 2 of 2010
Articles
Pension Payment Minimums for 2010/11
3 Tax Time Checklists - Company, Individual and Superannuation Fund
Overseas Investment in Australia – Confusion reigns.
Bank Fees Dropping
Personal Credit Ratings – Part 2
Develop a more complete understanding of your financial position by using the Calculators / Financial Tools on this site.
Henry Report - a note on the Report's recommendations
Income Tax Assessment Process Still Struggling
2010-11 Commonwealth Budget
End of Tax Payment Concessions
Australian Taxation Office (ATO)
Pension Payment Minimums for 2010/11
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Minimum pension payment levels reverted to normal from 1 July 2010.

Pension members who have been receiving pension payments that are less than the normal minimum (due to the temporary halving of the minimum level) will be required to take the minimum in 2011 or have the fund become non-complying.

The externally managed funds will probably deal with this automatically.

All pension members are likely to receive a pension review soon, which will detail their pension payments for the new financial year and give them an opportunity to change the amount within the new 2010/11 limits.

The normal minimum pension rates that will apply to pensions after 1 July 2010 are:-

Age   % acct 
To 64 
65-74
75-79
80-84
85-89
90-94
95+ 
      2%
2.5%
3%
3.5%
4.5%
5.5%
7% 

If you operate a self-managed superannuation fund paying a pension, have you paid out the minimum in 2010?  The cost of failing can be significant.



23rd-June-2010
        
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