Deductible contributions to superannuation: a change for employees, including VMOs

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Until recently employees who received ‘employer sponsored super’ could not claim a tax deduction if they made additional contributions themselves. If they wished to make higher contributions than what the employer paid, they had to enter into a salary sacrifice arrangement with their employer. The only exception being, if their income derived from employment was less than 10% of their total income. Read More…

VMO Contracts



Since this financial year VMO contracts (in NSW) can only be signed in the doctors own name (and the doctor has to be registered for GST) or in the name of a practice company, provided the doctor is the sole director/shareholder/employee. Trusts are not accepted anymore as a party, but payments can still be made into trust bank account. In this situation the doctor should still register for GST in their own name. Read More…