Andromedae

The Australian government is proposing a new tax, known as Division 296, targeting individuals with superannuation balances exceeding $3 million. If enacted, starting from 1 July 2025, this tax would impose an additional 15% on the earnings attributable to the portion of your super balance over $3 million. Importantly, this tax applies only to the proportion of earnings related to the excess amount, not your entire super balance. Moreover, if your super fund experiences a loss in a financial year, that loss can be carried forward to offset future Division 296 tax liabilities. Understanding these nuances is crucial, especially for those managing their own super funds. Let's delve deeper into what this means for you. Read More

Take control of your retirement future with expert self-managed super funds support from Andromedae. We provide streamlined SMSF services designed to keep your fund compliant, efficient, and aligned with your long-term goals. Whether you're starting your first fund or improving an existing one, our specialists guide you through every step of the SMSF set up process with clarity and precision. From administration and reporting to strategic structuring, we help you manage your super with confidence and ease. Trust Andromedae to deliver reliable SMSF solutions tailored to your financial needs, backed by professional expertise you can depend on.

Andromedae goes beyond setup: we provide ongoing administration, tax, and compliance support, with quick responses to calls and emails. With us, you’re never left alone to navigate SMSF responsibilities; we’re your partner in managing your super with confidence.