Will 2024-25 be another year of volatility or a return to stability? Personal tax & super As you would be aware (at least we hope so after a $40m public education campaign), the personal income tax cuts came into effect on 1 July 2024. At the same time, the superannuation guarantee (SG) rate increased by […]
NALE: Trustees trapped in nightmare of new expense rules What is being forgotten is that the goal behind the change was to target SMSFs that enter borrowing arrangements with related parties on non-arm’s-length terms. New non-arm’s-length expense (NALE) rules have become an administrative nightmare for self-managed super fund trustees and advisers. They were introduced
SMSF & NALE: The good, bad and ugly Read More »
The Government yesterday released a second, far reaching $66.1 bn stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up to $100,000 for small business employers, and relaxes corporate insolvency laws. The stimulus measures are not yet legislated. Parliament will reconvene on Monday 23 March.
The Second $66.1 bn Stimulus Package: What You Need To Know Read More »
Super Fund Lookup status change for overdue SMSF annual returns From 1 October 2019, if the lodgment of a self-managed super fund (SMSF) annual return is more than two weeks overdue, the status of the SMSF will change on Super Fund Lookup (SFLU). The new status, ‘regulation details removed’, will remain until overdue lodgments are up
Fund Lookup status change for overdue SMSF Annual Returns Read More »
With the end of the financial year fast approaching, now is the perfect time to ensure everything is in place for your SMSF before 30 June. The following are some superannuation strategies that you might want to know more about to get the best out of your SMSF. Contribution caps Before the end of the
End of the financial year – is your SMSF ready? Read More »
Thinking of selling your home in the next financial year? You may be able to take advantage of the Downsizer Contribution as passed in the May 2017 budget changes. The basic details are that individuals who are home owners can from the proceeds of sale of their principal place of residence, each contribute up to $300,000
Downsizing Contributions Read More »
An SMSF friendly budget is the good news coming out of the 2018-19 Federal Budget. With SMSF members still working through the wide-reaching and complex superannuation changes which took effect from 1 July 2017, this Federal Budget will provide much needed stability while looking to reduce costs for SMSFs and prove additional flexibility. The key
Government delivers SMSF friendly 2018-19 Federal Budget Read More »
