Venture Financial Advisers

28/02/2024

Australians are facing delays with Services Australia claims. Learn about the efforts being made to reduce the backlog and how you can help expedite your application process.

Services Australia has been grappling with a significant backlog of claims, with more than one million claims remaining outstanding as of December 2023. Despite efforts to alleviate the backlog, including the hiring of thousands of new staff, the issue persists. Age Pension backlog averages Age Pens...

03/11/2023

Our email servers are being updated this afternoon and we will temporarily be unable to access our email.

We will be able to view anything you send through by Monday, however if it is urgent, please don’t hesitate to call us on 03 5434 7600.

25/10/2023

Andrew, Ryan and Nathan are keeping up to date with technical training in Melbourne today at SMSF Adviser's Technical Strategy Day.

23/03/2023

The Government recently announced proposed changes to impose an additional tax of 15% (the additional tax), increasing the original concessional tax rate from 15% to an effective new 30% rate, on earnings on total superannuation balances (TSB) over $3 million.

This measure is proposed to commence on 1 July 2025 and apply to the 2025-2026 financial year onwards.

Learn more in our blog below.

Proposed additional 15% tax for earnings on super balances over $3 million from 1 July 2025 The Government recently announced proposed changes to impose an additional tax of 15% (the additional tax), increasing the original concessional tax rate from 15% to an effective new 30% rate, on earnings on....

16/03/2023

From 1 July 2023, self-managed super funds (SMSFs) must report transfer balance account events by lodging a quarterly transfer balance account report (TBAR) – which is more frequent than what currently applies.

Read our article below to learn about lodgment deadlines and the types of events that must be reported.

From 1 July 2023, self-managed super funds (SMSFs) must report transfer balance account events by lodging a quarterly transfer balance account report (TBAR) – which is more frequent than what currently applies. The first quarterly TBAR report obligation will be due by 28 October 2023, to report al...

22/02/2023

Andrew and Ryan are attending the SMSF Association’s National conference this week. Keeping up with the technical learnings of the industry and the latest legislation has us inspired leading through 2023!

28/07/2022

Changes to superannuation contribution rules came into effect this month that allow individuals aged 67-74 greater opportunity to contribute to super with the following changes:

• the removal of the work test for personal (after-tax) contributions and salary sacrifice contributions, and
• an increase to the amount of after-tax contributions that may be made within a single financial year.

Read our blog or contact us today for more information on how these changes can help you grow your super!

https://venturebendigo.com.au/2022/07/27/new-superannuation-contribution-opportunities/

24/06/2022

There’s one week left for Bendigo Foodshare’s June Food drive!

The Venture team, along with AFS & Associates Chartered Accountants, have been steadily growing our donation pantry to support the drive.

You too can donate non-perishable food items by utilising the yellow Foodshare bins located this month in supermarkets.

09/06/2022

We’re partnering with AFS & Associates Chartered Accountants and the wider Bendigo community in the Bendigo Foodshare June Food Drive!

Did you know local food donations to Bendigo Foodshare have decreased by 46% since July 2020? This decrease has a negative impact, especially when the number of those experiencing food insecurity is on the rise.

Let’s work together to help them with their 5,000kg pantry staple food goal.

Look out for the yellow bins at your local Coles, Woolworths, Aldi and IGA supermarkets in Bendigo and consider donating a couple of items to help those in need in Central Victoria.

Any pantry / long-life items are welcomed, but those most needed are:

• Pasta, rice and grains
• Canned vegetables
• Breakfast cereals
• Tinned Fruit
• Flour and sugar
• UHT Milk
• Coffee, tea and Milo
• Sauces and seasonings
• Tinned meat and fish
• Jam, peanut butter and Vegemite
• Cooking Oil
• Ready-made meal bases

12/05/2022

As the 2022 financial year draws to a close, it may be timely for you to assess pension payments you have withdrawn from your superannuation fund since 1 July 2021. As you are aware a minimum pension amount must be withdrawn from your fund on or before Thursday 30 June 2022.

We strongly suggest you do not leave this until the last moment. The tax savings you currently enjoy within the fund are dependent on meeting this annual pension withdrawal obligation.

Your minimum pension amount can be located on Andrew’s covering letter that accompanied your 2021 SMSF financial results.

Should you require clarification on this or any other superannuation matter please contact Andrew Morris directly on 03 5434 7605 or Ryan Trickey on 03 5434 7608.

If you require financial advice at this time we recommend you contact your existing adviser or alternatively our financial advice team will be able to assist on 03 5434 7600.

09/05/2022

The Age Pension and Service Pension are subject to means testing, which means your actual rate of payment may be reduced because of your financial situation. Means testing includes calculating your payment under both an assets test and an income test – the one that results in the lowest payment rate will then apply.

The Age Pension and Service Pension are generally paid at the same rates and normally subject to the same income and assets tests.

24/04/2022

We honour the memories of those who made the ultimate sacrifice for our freedoms and country.

We will remember them.