12 Jun ATO updates valuation guidelines for pension reporting
The ATO has updated its valuation guidelines in order to clarify when a reasonable estimate can be used for valuing pension assets when reporting to the ATO.
...
Superannuation & SMSF
09 Jun ATO figures show jump in starting balances for SMSFs
The ATO’s statistical overview of SMSFs for the 2016–17 financial year indicates that funds that were established that year had assets of just over $500,000 on average, a substantial increase from the previous year.
...
07 Jun Count your pennies! Australia’s favourite super fund revealed
When it comes to choosing a superannuation fund, many people can feel overwhelmed. However, after the Banking Royal Commission shone a light on Australia’s super system as a whole recently, a new survey has now named the country’s most popular fund with customers. Financial comparison site...
29 May Australia’s $4bn Super blackhole impacting self-employed most
While a recent research report has predicted that the ATO’s crackdown on SG non-compliance will be effective in improving the payment of super to employees, the lack of super savings among the self-employed is expected to remain a critical issue.
...
28 May How to play catch up with your super
Now you can put more into super at the concessional rate of tax, starting from the 2019-20 financial year. Putting more money into the tax-friendly framework of superannuation to help you enjoy a fulfilling retirement. It’s one of those things that seems like a no brainer,...
22 May Is it too risky to place all of your assets into your superannuation?
Is it best to place all your assets in superannuation or to diversify using other investments ? We currently have a number of rental properties and have been advised to sell one each year after we retire in three years time. Our adviser has said...
21 May SMSFs on ATO’s radar in cryptocurrency review
As part of its review of transaction information from cryptocurrency service providers, the ATO has said that it will be using this data to ensure that SMSF trustees or members who invest in cryptocurrency are complying with their obligations. In an online update, the ATO stated...
20 May Getting ready for End of Financial Year 2019
With the end of the 2019 approaching, we would like to draw your attention to some things worth considering as part of your year-end tax planning. As always, we are here to assist you. If you have questions about any of the strategies mentioned in this email,...
17 May A letter from your superfund?
You may have received a letter from your superfund recently. If so, this is what it is about. From 1 July 2019, superannuation fund members with inactive accounts risk losing their insurance cover unless they actively opt-in to retain their cover. Legislation to make this change effective received Royal...
26 Apr Labor vs Liberal: How each party’s policies will affect your financial future
Superannuation is one of the key battlegrounds in the upcoming federal election. Here, we run through the key policy pushes from both of the major parties. CONTRIBUTIONS Non-concessional contributions cap Current law You can make non-concessional contributions of up to $100,000 if you qualify and have a total superannuation...
