SMSF Archive

SMSFTax Champion

Every Three Year SMSF Audits – A Ludicrous About Face

As a Tax Advisor to small businesses that run Self-Managed Super Funds (SMSFs) I am aghast at the way our federal government and, in particular, Canberra bureaucrats treat this sector.

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Superannuation Guarantee Amnesty Proposal

A chance to catch up! If legislated, the Amnesty will provide a once-off opportunity for employers to disclose super guarantee (SG) shortfalls which occurred between 1 July 1992 and 31 March 2018 without penalty.

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When Can You Take Your Super?

The cash sitting in your superannuation fund can be tempting, particularly if you are short of cash. But, the reality is there are very few ways you can take advantage of your superannuation once it has been contributed to the fund – even if you change your mind. The sole purpose test underpins access to your superannuation – that is, superannuation is for the sole purpose of providing retirement benefits to fund members, or to their dependants if a member dies before retirement.

SMSF

Superannuation what’s changing on 1 July 2018?

Here are the key changes coming up for superannuation on 1 July 2018.

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Downsizer Contributions for 65+

From 1 July 2018 older Australians (65 years or over) will be able to contribute proceeds from the sale of their home to their superannuation fund under “Contributing the proceeds of downsizing into superannuation’ measure that became law in December 2017.

SMSF

Understanding how SMSF contributions work

Contributions can play an essential role in a self-managed superannuation fund (SMSF). Your SMSF contributions can be made in two ways – either by cash or an asset (known in the trade as ‘in specie’ contribution).

SMSF

6 tips for retiring earlier

Are you dreaming about an earlier retirement, but unsure how to go about it? According to the Australian Bureau of Statistics, 40 per cent of Aussie men and 35 per cent of Aussie women are planning to work past age 70 because they are worried about their ‘financial security’ in retirement.

SMSF

Should you update your SMSF Trust Deed?

The Trust Deed of a Self-Managed Superannuation Fund governs the operation of the Fund and permits the Trustee to act to the extent permitted by the legislation and be able to comply with any superannuation changes.

SMSF

What SMSF’s absolutely need to consider prior to 30 June 2017

30 June 2017:  The wide-ranging superannuation reforms come into effect on 1 July 2017. With the changes come a series of issues that Trustees need to be across, even if they don’t immediately affect you or your fund:

SMSF

$1.6 Million Pension Cap for SMSF’s

Now that the proposed $1.6 million pension transfer balance cap is law, I thought it best to explain.

SMSF

Insurance for Self Managed Superfund Members

When preparing your investment strategy for the superfund you are required to consider whether to hold insurance cover for each member of your SMSF.

SMSF

New Death Tax: Proposed Superannuation Changes

In the recent Federal budget from 1 July 2017 the Government announced a new $1.6 million balance cap proposal which limits the amount that a superfund member can have in the pension phase. 

Why you landed here

Phillip Anthony Partners joins Paris Financial East Melbourne

We are pleased to share that the team at Phillip Anthony Partners have merged with Paris Financial. Our team at Paris Financial can provide you with a large range of quality financial services with over 65 people located across two convenient locations in Blackburn and East Melbourne.

Paris Financial shares the same philosophy as Phillip Anthony Partners of providing a value focused and high quality service for each of our clients. We look forward to assisting with your accounting needs.