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Archive for category: Superannuation

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What Expenses Are Allowable Deductions For A SMSF?

The expenses considered deductible by super funds are similar to that of individuals. Essentially, it should be items that are losses or outgoings incurred while producing or gaining assessable income.

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What Expenses Are Allowable Deductions For A SMSF?
( Posted in: Superannuation )

Super Splitting With Your Spouse

Super splitting is important when one member of a couple has a much higher super balance. It is also beneficial for couples that have a large age gap between them. Also, people with relatively low superannuation amounts will benefit from the ability to split super contributions with their spouse.

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Super Splitting With Your Spouse
( Posted in: Superannuation )

Important Changes Affecting Your SMSF

The delivery of advice for SMSF changed on 1 July 2016 when specific amendments to the FOFA (Future of Financial Advice) legislation came into effect. 

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Important Changes Affecting Your SMSF
( Posted in: Superannuation )

ATO Finds $850 Million In Superannuation Guarantee Audit

Small Business is hard enough without the temptation of having a weak government system chase a key employee obligation.

 

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ATO Finds $850 Million In Superannuation Guarantee Audit
( Posted in: Superannuation )

New SMSF Event-Based Reporting Requirements

A new reporting regime for Self-Managed Superannuation Funds (SMSFs) commenced on 1 July 2018. It’s crucial that SMSF members understand the impact of this new reporting framework and get it right.

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New SMSF Event-Based Reporting Requirements
( Posted in: Superannuation )

Superannuation Requirements For Temporary Residents

Most people are unaware that temporary residents working in Australia are eligible for super guarantee (SG). It is vital that all businesses who employ temporary residents are aware of the relevant super requirements.

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Superannuation Requirements For Temporary Residents
( Posted in: Superannuation )

Every Three Year SMSF Audits – A Ludicrous About Face

SMSF Auditors now must: be registered with ASIC; be registered with the ATO; have enormous amounts of regular professional updates; and also be audited by their peak professional bodies, such as the Chartered Accountants ANZ and CPA Australia.

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Every Three Year SMSF Audits – A Ludicrous About Face
( Posted in: Superannuation )

Superannuation Guarantee Amnesty Proposal

A chance to catch up! If legislated, the Amnesty will provide a once-off opportunity for employers to disclose super guarantee (SG) shortfalls which occurred between 1 July 1992 and 31 March 2018 without penalty.

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Superannuation Guarantee Amnesty Proposal
( Posted in: Superannuation )