Mikhaila Warburton 🚀’s Post

A pinch and punch for the first day of the month… A polite reminder, your superannuation contribution will increase by .5%. The new total amount will become 11.5% per annum. If your employment contract reads (insert salary) plus superannuation, you will see a slight increase in your super account. If your contract reads (insert salary) inclusive of superannuation, technically, the increase will impact your take home pay. Majority of employers are increasing superannuation contributions for their teams, no matter how the contract reads. Happy saving for retirement!

With over 4.2 million solo self-employed individuals contributing £331bn to the UK economy in 2023, it’s clear this sector is thriving. But worryingly, 45% of freelancers aren’t saving into a pension. Unlike employees, freelancers aren’t auto-enrolled in a workplace pension—it’s your responsibility to plan for your retirement. Regular contributions, even small ones, can make a big difference over time. Plus, you’ll benefit from tax relief to grow your savings faster. At Millbank Financial Solutions, we specialise in helping self-employed individuals like you plan for a secure retirement. From choosing the right pension to managing contributions, we’re here to help you achieve your financial goals. 💬 Let’s talk about your future—contact us today! 📞 0115 880 0190 📧 [email protected] 🌐 https://lnkd.in/eHRhNMK2 #SelfEmployed #PensionPlanning #FreelanceLife #RetirementReady

It is About Time: Contribution Cap Increased! 🔗 - https://lnkd.in/dVY9e_b2 Staying ahead of these changes is crucial for maximising retirement outcomes and some welcome news for those expats looking to boost one their main retirement pillars. #australianexpat #superannuation Brett Evans Martin Jack Mitchell Kelsey

New superannuation rules starting this month Starting with the new financial year on 1 July 2024, new super rules will apply to all Australians. Perhaps most importantly to employers and employees alike is the Super Guarantee - that is the amount your employer is required to contribute to your superannuation - rising from 11% of your salary to 11.5%. On top of that, the concessional contributions cap for pre-tax contributions is being lifted from $27,500 to $30,000, to keep it in line with recent salary rises. If you’re wondering how these and any other changes may affect your retirement planning, book your complimentary initial consultation with Poole Advisory now, and start planning for your future today. 📞 02 9063 5978 🗓️ Book online: https://lnkd.in/dSRdw_9J #pooleadvisory #pooleadvisorybowral #newsuperrules #superannuation #financialplanning #planningforthefuture #startplanningnow #financialadviser #wealthcreation #personalfinance #financialfuture #southernhighlandsnsw 

The Superannuation Secret Your Employer Hasn't Told You… As a financial adviser, I often come across hard-working Australians who are missing out on a crucial aspect of their superannuation: 𝗦𝗮𝗹𝗮𝗿𝘆 𝗦𝗮𝗰𝗿𝗶𝗳𝗶𝗰𝗶𝗻𝗴. Many employers offer this benefit, but they don't always (rarely) explain how it can help you save on tax and boost your retirement savings. That's where I come in. At 𝗧𝗵𝗶𝗻𝗸 𝗖𝗮𝗽𝗶𝘁𝗮𝗹 𝗔𝗱𝘃𝗶𝗰𝗲, we specialise in helping busy professionals and business owners navigate the complexities of superannuation and take full advantage of strategies like salary sacrificing. If you're curious about how salary sacrificing could work for you, let's chat. Comment "𝗬𝗘𝗦" below or send me a message, and we'll schedule a complimentary 15-minute phone call to discuss your situation. Don't let this powerful strategy remain a 'secret' any longer. Take control of your financial future today! Norma Falconer and Team TCA #salarysacrificing #superannuationsecrets #financialadvice #thinkcapitaladvice

In 2023, there were 4.2 million people in the UK’s solo self-employed sector but concerningly, 45% of freelancers are not saving into a pension. Employed people are auto-enrolled into a pension scheme by their workplace, but if you are freelance it is your responsibility. The sooner you start saving for retirement, the more you can grow your investment and benefit from tax relief on contributions (within limits). Start by deciding on a minimum monthly contribution that feels manageable for you.

📢 𝗖𝗵𝗮𝗻𝗴𝗲𝘀 𝗶𝗻 𝗦𝘂𝗽𝗲𝗿𝗮𝗻𝗻𝘂𝗮𝘁𝗶𝗼𝗻 𝗳𝗼𝗿 𝟮𝟬𝟮𝟰: 𝗪𝗵𝗮𝘁 𝗬𝗼𝘂 𝗡𝗲𝗲𝗱 𝘁𝗼 𝗞𝗻𝗼𝘄    🔼 𝗡𝗲𝘄 𝗦𝘂𝗽𝗲𝗿𝗮𝗻𝗻𝘂𝗮𝘁𝗶𝗼𝗻 𝗥𝗮𝘁𝗲: The superannuation rate has increased to 11.5%! This change means more contributions towards your retirement savings.  📈 𝗟𝗼𝗻𝗴-𝘁𝗲𝗿𝗺 𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀: With the increased rate, employees can expect a significant boost in their retirement savings over time, enhancing financial security in their later years.  ⚖️ 𝗘𝗺𝗽𝗹𝗼𝘆𝗲𝗿 𝗢𝗯𝗹𝗶𝗴𝗮𝘁𝗶𝗼𝗻𝘀: Employers need to adjust their payroll systems to comply with the new rate, ensuring all contributions are correctly calculated and submitted.  Stay informed and make the most of these changes! For more info visit our website    #Superannuation #RetirementSavings #EmployerObligations #TaxAccountingAdelaide #FinancialPlanning #SuperChanges2024 

In 2023, there were 4.2 million people in the UK’s solo self-employed sector but concerningly, 45% of freelancers are not saving into a pension. Employed people are auto-enrolled into a pension scheme by their workplace, but if you are freelance it is your responsibility. The sooner you start saving for retirement, the more you can grow your investment and benefit from tax relief on contributions (within limits). Start by deciding on a minimum monthly contribution that feels manageable for you.

💼 What are concessional contributions for superannuation? 📈 Maximising your superannuation through concessional contributions can significantly boost your retirement savings. Our recent article explains the benefits, limits, and strategies for making the most of these contributions. Here’s what you’ll discover: 🔍 The basics of concessional contributions and how they work 📊 Annual contribution caps and tax advantages 💡 Tips to optimise your superannuation strategy Boost your retirement savings with smart super contributions—click below to learn more! 🔗 https://lnkd.in/g3BnUaRN #Superannuation #ConcessionalContributions #RetirementPlanning #TaxBenefits #FinancialSecurity

The maximum number of hours associated with retirement status is a strict measure applied per week and not over a longer period of time. https://ow.ly/KxtG50SgFnX Accurium Matthew Richardson Mark Ellem #SMSF #financialplanning #financialservices #ausbiz #accounting #superannuation #smsmagazine