You may or may not subscribe to the belief that Australia faces a change of government in the near future. The arguments for and against and the volume of discussions held over the barbecue are likely to ramp-up in the time between now and the federal election. However one contentious consideration that SMSF trustees may[ Read More ]
One of the major concerns for taxpayers in taking on the role of a legal personal representative is that the Tax Commissioner may treat legal personal representatives (LPRs) as having a personal liability for a tax debt where assets of a deceased estate have been distributed and there is still outstanding amounts owed to[ Read More ]
Royal Commission, market volatility: Is now really the time to move away from annual independent audits?
SMSF trustees still seem to be digesting the yet-to-be enacted proposal to move SMSFs to a three-year audit cycle. Tax & Super Australia (TSA) is highly concerned about the impact of this proposal on the integrity of the superannuation system in Australia. During a period of volatility where the financial services sector is facing[ Read More ]
How much do you need to retire? When it comes to superannuation and retirement savings, it seems that size really does matter. There are other considerations of course, but for the most part the focus will be on finances when people aim to “improve” their post-work life prospects. The question of how much retirement[ Read More ]
Peter Johnson, director of the national network of AFSL-licenced specialists The SMSF Expert, answers a question regarding a fund member with a TRIS that has drawn more than the 10% cap. Problem with over-withdrawing a TRIS, and the solution Problem with over-withdrawing a TRIS, and the solution Problem with over-withdrawing a TRIS, and the[ Read More ]