Managing Payments to Shareholders or Directors
As a Company Owner/Director it’s normal to borrow funds from your company, however the ATO monitors any payments made to shareholders / Directors to ensure the Division 7A Rule is correctly...
Death Benefit Nominations in Super
Having a Death Benefit Nomination (DBN) in place is one of the most important documents members of a Self-Managed Super Fund can complete. Having this in place simply takes the burden off the...
Super Changes from 1 July 2017
Superannuation sees the biggest changes from 1 July 2017. We’ve reviewed the main changes which may impact you and these are shown below.
Superannuation Advice Changes from 1 July 2016
The financial advisory industry is undergoing change with new legislation being introduced to better manage the quality of advice provided to investors. From 1 July 2016, Accountants who provide...
SMSF Auditor Requirements
Under the Superannuation Industry (Supervision) Act 1993, trustees of self-managed superannuation funds are required to present their financial statements, income tax returns and supporting...
Succession Planning and Retirement
You’ve worked hard to build your business, and if you’re typical of most business owners, this is going to form the bulk of your retirement nest egg. Once you’ve made the decision it’s time to...
Superstream Deadline Extended for Small Business
The Superstream deadline for small business has been extended from 1 July 2016 to 28 October 2016
Managing Your Director Payments
Division 7A, a commonly forgotten part of the 1936 Income Tax Assessment Act, applies to ‘excess’ payments made to a private company’s shareholders/directors and associates. The purpose of this...
The Pros and Cons of Property Investment in Super
For the last few years, the use of limited recourse borrowing arrangements and using these for purchasing residential property in SMSF’s was very popular.
Changes to the Way We Look at Pensions in SMSFs - Asset Test
The Federal Government passed changes to the assets test for determining entitlement for the age pension. These changes are expected to take effect in 2017.