Time to invest
New early release scams fact sheet
July 8th, 2020
The government has produced a new fact sheet to warn super fund members about how scammers are taking advantage of its temporary early release of superannuation measures. The Australian Competition and Consumer Commission (ACCC) fact sheet shares details of a range of phishing scams and cold-call tactics that con artists are using to steal money […]
ATO warns of fines for fraudulent early access of super
July 7th, 2020
Coinciding with the start of stage two of the temporary early release of superannuation scheme, the Australian Taxation Office (ATO) has warned it will fine people who deliberately misuse the system to access their retirement savings early. The ATO published a new COVID-19 early release of super – integrity and compliance webpage last week. This […]
New Income Budget Calculator
July 7th, 2020
First Super has launched a new calculator tool to help members better manage their finances if their income is reduced or stops unexpectedly. With the coronavirus pandemic affecting a wide range of sectors and businesses, many people have had their working hours reduced, their overtime stopped, or been made redundant. The Federal Government is expected […]
5 tips to prepare your 2019/20 tax return
July 6th, 2020
The last financial year was anything but normal and made life a little (or a lot) different for all of us. Keeping those unusual circumstances in mind is important now that it’s tax time. If the summer bushfires or coronavirus affected your pay, work circumstances or outgoings in the 2019/20 financial year, read on about […]
New partnership increases options for members from NZ
July 2nd, 2020
First Super is making it easier for New Zealand migrants to transfer their KiwiSaver balances to Australia and benefit from tax savings on their retirement savings under a new partnership with NZRelo. Your super fund has agreed an exclusive three-year partnership from 1 July 2020 to promote its superannuation services to NZRelo community members, including […]
Members who took money out of their superannuation without meeting the eligibility requirements could face fines and prosecution, the Australian Taxation Office has warned. The Coalition’s early super access scheme allows eligible members to withdraw $10,000 in the last three months of this financial year and another $10,000 in the first three months of next […]
Get connected with free online workshop
June 12th, 2020
The latest in the series of “Be connected” free webinars will run on Monday 15 June. Provided the Australian Government’s eSafety Commissioner, the online workshops aim to help people improve their computer skills and stay safe online. The “Connecting to others” webinar has been designed specifically to overcome the barriers of current travel restrictions and […]
The worst of the coronavirus pandemic looks to have passed, but workers relying on government payments and loan deferrals must prepare for a challenging road ahead. Australia’s unemployment rate spiked following the coronavirus shutdown and is tipped to remain above pre-crisis levels until 2024. That will put a huge strain on workers’ wallets, with roughly 1.7 […]