SMSF trustees: Tread carefully with peer-to-peer lending investments

One investment option that has surfaced relatively recently, and that SMSF trustees may consider as a part of their strategy to grow their fund, is investing through peer-to-peer lending. Peer-to-peer lending involves an investor – a trustee of the SMSF in this case – providing funds to an online lending platform. This platform, which must

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Substantiation for mobile, home phone and internet costs

The ATO has issued guidance on making claims for mobile phone use as well as home phone and internet expenses. Substantiation for mobile, home phone and internet costs It says that if a client uses any of these for work purposes, they may be able to claim a deduction if there are records to support

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A super legislative tsunami is heading our way

A super legislative tsunami is on its way The bills proposing changes to the superannuation system were introduced into Parliament last week, on November 9. The Treasury Laws Amendment (Fair and Sustainable Superannuation) Bill 2016 (you can read the details here) contains the vast majority of the changes to the regulation and taxation treatment of

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The tips (and traps) of tax when winding up a business

When your client first went into business, either buying an established enterprise or starting from scratch, probably the last thing on their mind was the day they would close the door for the last time. The tips (and traps) of tax when winding up a business But it’s no use ignoring the inevitable, as one

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Second tranche of super changes caps pension transfer balance

The government’s release of the second tranche of proposed superannuation changes, which covers concessional contributions, catch-up concessional contributions and removing the earnings tax exemption for transition to retirement income streams, also proposes introducing a general pension transfer balance cap. This will limit the amount of super a member can transfer to pension phase and enjoy

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