Adelaide, SA

Brisbane, QLD

Melbourne, VIC

Perth, WA

Sydney, NSW

Sheffield, UK

Welcome Guest [Log In] [Register]
Fishpond Books Australia - Amazon Books - Bookdepository UK

Welcome to Diamond Aussie Forums. We hope you enjoy your visit.


You're currently viewing our forum as a guest.

This means you are limited to certain areas of the board and there are some features you can't use.
If you join our community, you'll be able to access member-only sections, and use many member-only features such as customizing your profile, sending personal messages, and voting in polls.

Registration is simple, fast, and completely free.

Be aware that we dislike Spam postings, and the IP of any Spam sender is sent on to various Spam databases.

Join our community!


If you're already a member please log in to your account to access all of our features:

Username:   Password:
Add Reply
Superannuation Funds; ABC this may be one for you
Topic Started: Jun 2 2006, 10:56:55 AM (426 Views)
moneypen20
Member Avatar
Bond's Beaut Bombshell

Can anyone give me some simple advice on starting a Super fund? Not working at the mo and have been advised that if I set up a fund before the end of June with at least $1000 or $1500, the goverment will put in another $1000. Just don't know how to go about it.

Had a meeting with a guy from the Commonwealth but don't want to go with them, so am a bit stuck.
Offline Profile Quote Post Goto Top
 
BIX
Member Avatar
Boner-fide Bonza Bloke


http://moneymanager.smh.com.au/investing/g...id=SEM:GoogleMM
Offline Profile Quote Post Goto Top
 
ProofReader
Unregistered


I would've thought this would be right up ABCD's alley! :o Super funds are, I believe, usually set up by way of a trust fund (unit trust, I think?) and would usually be done through either an accountant or a solicitor.


Quote Post Goto Top
 
ABCDiamond
Member Avatar


Have you been working for an employer in the tax year ?
If No, then forget it.

You will be eligible for the co-contribution in a year of income if:

  • you make personal superannuation contributions to a complying superannuation fund or a retirement savings account (RSA);
  • your ‘total income’ (assessable income plus reportable fringe benefits) is less than $58,000 (This may be different to your taxable income);
  • 10% or more of your total income is from eligible employment;
  • you do not hold an eligible temporary resident visa at any time during the year;
  • you lodge an income tax return for the year of income; and
  • you are less than 71 years old at the end of the year of income.
http://www.ato.gov.au/super/content.asp?do...ntent/42616.htm

You do NOT need to set up your own fund, just pay into any commercial qualifying fund, commonly the same one that your employer has used for the compulsory super contributions.



Eligible employment generally means anything resulting in you being treated as an employee.

Amounts from eligible employment also includes some income of employees who think of themselves as being self-employed, such as those who run their business through a company and the company pays them salary or wages.

You can phone the ATO information line on 13 10 20, if you need help in determining if amounts are attributable to eligible employment.

Offline Profile Quote Post Goto Top
 
moneypen20
Member Avatar
Bond's Beaut Bombshell

That'll be a no then :D Thanks for all that people. Looks like I can forget it until some kind person gives me the job I want :rolleyes:
Offline Profile Quote Post Goto Top
 
BIX
Member Avatar
Boner-fide Bonza Bloke

moneypen20
4th June, 2006 - 12:18pm
That'll be a no then :D Thanks for all that people. Looks like I can forget it until some kind person gives me the job I want :rolleyes:

You can join my team anytime you want Penny :)
Offline Profile Quote Post Goto Top
 
moneypen20
Member Avatar
Bond's Beaut Bombshell

BIX
4th June, 2006 - 08:05pm
You can join my team anytime you want Penny :)

Do you pay travel allowance :D Is that the sum total of your much talked about harem?
Offline Profile Quote Post Goto Top
 
BIX
Member Avatar
Boner-fide Bonza Bloke

moneypen20
5th June, 2006 - 04:06pm
Do you pay travel allowance :D Is that the sum total of your much talked about harem?


No, don't be silly.

They are just the homehelp who look after the needs of my harem.
You know everyday stuff like ironing, washing etc.
You don't really think members of the harem elite wear as many clothes as them do you ?

Travel allowance ? :scared: Next you'll be asking for zebra meat :scared:
Offline Profile Quote Post Goto Top
 
moneypen20
Member Avatar
Bond's Beaut Bombshell

BIX
5th June, 2006 - 10:59pm

No, don't be silly.

They are just the homehelp who look after the needs of my harem.
You know everyday stuff like ironing, washing etc.
You don't really think members of the harem elite wear as many clothes as them do you ?

Travel allowance ? :scared: Next you'll be asking for zebra meat :scared:

You only have two homehelp - tight wad!

What do you want me to do, run the Gold Coast branch - think I can manage that, say between 5:05 and 5:06pm :wink: What's the salary? Make it worth my while and we may have a deal :P
Offline Profile Quote Post Goto Top
 
BIX
Member Avatar
Boner-fide Bonza Bloke

moneypen20
6th June, 2006 - 10:55am
BIX
5th June, 2006 - 10:59pm

No, don't be silly.

They are just the homehelp who look after the needs of my harem.
You know everyday stuff like ironing, washing etc.
You don't really think members of the harem elite wear as many clothes as them do you ?

Travel allowance ?  :scared:    Next you'll be asking for zebra meat    :scared:

You only have two homehelp - tight wad!

What do you want me to do, run the Gold Coast branch - think I can manage that, say between 5:05 and 5:06pm :wink: What's the salary? Make it worth my while and we may have a deal :P


Now I'm wondering why you already have so much time on your hands. :mischief:
Offline Profile Quote Post Goto Top
 
1 user reading this topic (1 Guest and 0 Anonymous)
« Previous Topic · Australian General Information Pages · Next Topic »
Add Reply


Phone Card Choice Work From Home
Quicklens Australia Contact Lenses Travel Insurance - Columbus Direct

atc atc