superannuation

SG amnesty: Are reports of ATO leniency off the mark?

  The failure of the Superannuation Guarantee Amnesty to pass into law has led to a problem. To recap, the Superannuation Guarantee Amnesty was to be available for the 12-month period from 24 May 2018 to 23 May 2019. To get the benefits of the amnesty (set out below) employers must during this 12-month period

[ Read More ]

SG on leave loading? Yes, and no — so it pays to check

  An issue has surfaced in recent times that in some cases may require a change in the approach taken by some employers with regard to them being fully compliant with superannuation guarantee obligations. The problem for some may not be so much ducking the rules, but rather being in sore need of clarification on

[ Read More ]

Insurance cover through your SMSF can be tax deductible

  Buying insurance within an SMSF can give access to deductible expenses that would otherwise not be available, as some insurance premiums, such as for life insurance (which typically cannot be claimed as deductions by individuals for income tax purposes) may be available as tax deductions for the SMSF. The same concession applies for any

[ Read More ]

The proportioning rule and your SMSF

  When calculating a super benefit, it is necessary to identify and determine the value of the various components that make up the benefit. The law around superannuation dictates that the tax-free component and taxable components of a member’s payment must be paid in the same proportion as the tax-free and taxable components of the

[ Read More ]

Bitcoin: Its place in your wallet or SMSF portfolio

  The dramatic rise in value (and then fall) of bitcoin and other cryptocurrencies has sparked interest among SMSF trustees on its potential as an investment, particularly in a marketplace of low-interest rates, erratic sharemarkets and an easing in property. While bitcoin may be the most well-known cryptocurrency, there are nearly 1,500 in existence. In

[ Read More ]