Some ATO forms that SMSF trustees may need
SMSF trustees may find that occasionally a particular form is needed to be able to complete an administrative task for the ATO. Rather than have you searching the vast labyrinth of the ATO’s
[ Read More ]Super
Build a strong path to wealth with our superannuation news and insights.
From the Blog
SG penalty remissions: How not to trip up, post-amnesty
The ATO has published draft law administration practice statement PSLA 2020/D1 – remission of additional superannuation guarantee charge. With the SG amnesty now expired, so too has the ability
[ Read More ]SMSF regulations to allow six members under new legislation
A bill has been introduced, the Treasury Laws Amendment (Self Managed Superannuation Funds) Bill 2020, that partially implements the measure to allow an increase in the maximum number of
[ Read More ]The ATO service SuperMatch was suspended, but now starting again
SuperMatch had been offered by the ATO as a service to connect APRA-fund trustees with information about super fund accounts, including lost member accounts and any ATO-held money belonging to
[ Read More ]Client’s super fund covers insurance needs? With COVID-19, maybe not (even some SMSFs)
As part of its economic response package to the COVID-19 pandemic, the government implemented a new temporary measure to allow individuals affected by COVID-19 to access up to $10,000 of their
[ Read More ]Are SMSF audits facing a wipe-out by 2021?
The body that oversees and the issues standards that outline the responsibilities of SMSF professionals, the APESB (Accounting Professional & Ethical Standards Board) has recently published
[ Read More ]Sober facts about SG amnesty under COVID realities
The superannuation guarantee amnesty, proposed even before the last federal election, and resurrected after the LNP retained government, finally commenced on 6 March this year. However by then
[ Read More ]ASIC re-plans its regulatory work because of COVID
The Australian Securities and Investments Commission (ASIC) had foreshadowed that it will make changes to its regulatory work and priorities to allow it to focus on the impact of COVID-19,
[ Read More ]COVID-19 and SMSF rental relief
SMSF investments in real property will likely be impacted by the COVID-19 rental relief available to tenants. Where relief is granted by SMSF trustees, they will be required to justify and
[ Read More ]Early release super amounts may have other unintended uses
There are no restrictions on how the money released under the new coronavirus compassionate ground early release scheme is spent. This means that an eligible individual is free to spend this
[ Read More ]Don’t let your employer clients miss any 2019-20 super deductions
A key date is just around the corner for being able to claim a deduction for super payments. With all the COVID-19 updates and new information to absorb, it would not have been surprising to see
[ Read More ]Concerns from ATO on property development and SMSFs
The regulator of self managed superannuation funds reports that it has noticed an increase in the number of trustees entering into arrangements involving buying and then developing property
[ Read More ]