Corporate vs individual trustee?

on December 8, 2017 General with 0 comments

Setting up a self-managed super fund (SMSF) requires members to choose between using an individual or a corporate trustee. Each trustee structure has varying requirements and implications for the members of the fund, so it is important to understand the differences. Members can choose up to four individual trustees or a corporate trustee, where a…

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Things to consider when buying off-the-plan

on December 8, 2017 General with 0 comments

Buying off-the-plan housing is becoming an increasingly common decision for first home buyers. There are a number of incentives for purchasing off-the-plan but there are also some serious considerations to be made before entering into a contract. Do your research Researching the property itself, the area and the builder/developer are extremely important. Area: make sure…

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The gift of FBT-free giving

on December 8, 2017 General with 0 comments

The holiday season is a time in which many employers look to thank their employees for their hard work throughout the year. Employers will often plan a work Christmas party, or decide to give their staff a Christmas gift to show their appreciation. While throwing a Christmas party is a great end-of-year celebration, employers should…

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tax time

on September 6, 2017 General with 0 comments
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Preparing for the super changes

on March 3, 2017 General with 0 comments

Tighter superannuation rules will apply from 1 July 2017 as part of the super reforms announced in last year’s Federal Budget. The new rules include the introduction of a $1.6 million super balance cap for after-tax contributions; a maximum of up to $25,000 for concessional contributions; and the removal of the current “bring-forward” rule allowing…

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Revised super proposals

on November 16, 2016 General with 0 comments

The Government has announced some changes to the superannuation proposals originally announced in the May 2016 Federal Budget. The Coalition’s proposal is to reduce the existing annual non-concessional (after-tax) contributions cap from $180,000 per year to $100,000 per year. Australians who are under 65 years of age will continue to be able to use the…

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ATO focuses on rental property deductions

on October 20, 2016 General with 0 comments

This tax season will see the ATO specifically targeting extreme or inappropriate deductions made by rental property owners. While it is not uncommon to make some mistakes when claiming rental deductions, it is necessary for taxpayers with rental property interests to get their deductions and expense claims right to avoid facing harsh and costly penalties.…

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What is a superannuation contribution?

on October 20, 2016 General with 0 comments

Since superannuation contributions come in several forms; SMSF members would be wise to understand what contributions are available and how they might impact them in regards to the contribution limits. The ATO considers a ‘contribution’ as anything of value that increases the capital of a superannuation fund provided by a person whose purpose is to…

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Super shake-up

on September 11, 2016 General with 0 comments

This year’s Federal Budget saw a raft of changes to superannuation with introduced measures intended to improve the sustainability and integrity of Australia’s superannuation system. The following measures were announced, including: Introducing a $1.6m transfer balance cap There will be a $1.6 million superannuation transfer balance cap on the total amount of super that individuals…

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7 Things you need to know about Self Managed Super Fund

on September 9, 2016 General with 0 comments

1 What is a self-managed super fund? A self-managed super fund (SMSF) is a superannuation fund with a maximum of four members who act as the fund’s trustees and direct its investment strategy, giving Australians the chance to take a more active role in planning their retirement. SMSFs represent the fastest growing sector of the…

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