Talking Cents

2017 Superannuation changes explained by your small business accountant in Melbourne

With the latest of crackdowns within the ATO on this year’s tax returns, there has now been a change to your superannuation that will affect you and even the government. So what is it you may ask? Well our small business accountants in Melbourne will tell you all about it.

If you’re looking for some quick facts on these changes, then you’ve come to the right place because our business accountants in Melbourne have it all for you:

• The government will ensure that all workers have the liberty of choosing their own super fund, regardless of any prior enterprise agreements
• Information about how member’s money is spent will now be have to disclosed through the new reporting standards
• At least 1/3 of all directors in any Super Industry boardroom must be independents

One of the biggest questions that any small business accountant in Southbank will face is ‘How does this affect my super?’ Well truth be told that it’ll only affect your superannuation in a positive way, as the government is trying to raise the average returns that super funds give resulting in more money for you!

As always, feel free to contact our small business accountants in Melbourne with any enquiries that you may have.