This month’s edition of our client newsletter includes an article on the importance of making your superannuation last in retirement. Superannuation is often a key source of income when you retire so it’s important to ensure your investment strategy makes your retirement savings last for as long as possible.

This is followed by an item that explains the personal services income rules that apply to income that is earned mainly from the personal efforts or skills of a person. Included is a handy flowchart which explains the rules depending on the different circumstances. It is worth noting that these rules do not apply to income earned from being an employee.

Our next article covers the different types of amounts that you may receive which are not considered as “income” by the ATO. Although such amounts may not be assessable, they may need to be included elsewhere in your tax return for other purposes.

There is also an article about being on the lookout for scammers who may contact you about your superannuation. This is an important reminder as the number of cold callers is on the rise and many people are falling victim and losing their superannuation to scammers.

Finally, we provide an article which explains the steps you should follow when on-boarding new employees, as there are a number of tax, workplace and superannuation obligations you must adhere to as an employer.

Contents
This edition features pieces on:

• Making your super last in retirement
• Personal services income explained
• What’s not considered “income” by the ATO?
• Don’t lose your super to scammers
• On-boarding new employees

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.

ATO Key Dates
To view the ATO’s key dates for June, please click here.