Tag: smsf
6 Member SMSFs – the issues and opportunities
From 1 July 2021, the maximum number of members a Self Managed Super Fund can have increased from four to six. Why would you have a fund with six members and what are the implications?
Superannuation Update – SGC is increasing to 10% on 1 July 2021
When the compulsory SG contribution payments are increased to 10%, you will need to alter your payroll systems to pay the new increased rate to your eligible employees.
Your SMSF: when expenses and investments are not at arm’s-length
We often get questions from clients about what they can and cannot do in their SMSF. Often the questions relate to related party transactions – that is, interactions between the SMSF, its assets, and its members (or relatives of members). We’ve set out some of the common questions and answers.
The Tax Handling of Cryptocurrencies in Australia
Cryptocurrency has been the term on everyone’s mind lately, the ATO is figuring out how to be sure that investors and traders aren’t dodging their taxation responsibilities.
Superannuation what’s changing on 1 July 2018?
Here are the key changes coming up for superannuation on 1 July 2018.
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).
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.
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:
In whose name?
When you decide to purchase an investment property there are a couple of important things you need to do before heading off to the agent and signing the contract! It is important to have look at all your structure options with your accountant, including discussing whose name you want on the contract.
5 Investment Property Ownership Structures – SMSF
There are 5 major ownership structures in which you can hold investment properties, and each one has its pro’s and con’s. The fifth and final article is on investment property held in SMSF’s, not a structure that is to be taken lightly, but one that can be very advantageous for the right investor.
$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.
Do you have insurance in your lost superannuation?
Would you go out for a coffee and leave $10,000 on the table because you forgot? Of course you wouldn’t, and if you did, you would go back and get it! Then why are so many of us losing track of our superannuation accounts and potential insurance that they usually carry?