Whether or not expenses are deductible is largely about common sense. If the investment is allowable under the Superannuation Industry Supervision (SIS) Act, or the cost is genuine in running your fund, then chances are, it is a deductible expense. It’s actually as much about remembering to record such expenses so that you can make the claim. You can get... More Information ▶
Nearly 2 weeks after the Budget announcements, the news is ablaze with protests and opinions on the likelihood of the measures being legislated. But from a Superannuation perspective, it’s largely business as usual. Here’s our take: The government saw reason and has announced measures to allow Excess Non-Concessional Contributions to be withdrawn (along with any associated earnings) where a Non-Concessional Contribution Cap... More Information ▶
It's been one of those regulatory requirements that has been a low priority, if even understood by employer groups. From 1 July this year, large employer groups (defined by having more than 20 employees) were due to start remitting employer superannuation contributions to SMSFs using the Government’s "SuperStream Data and Payment Standard". It is all part of the Government’s Stronger Super... More Information ▶
This idea came from Fred, who’s 75 going on 25 by the way! A career entrepreneur, his passion and energy isn’t slowing any time soon! Neither too are his ideas for leaving his family well prepared for the future, especially his grandchildren. Fred spent his lifetime building businesses, which like many people has had its fair share of boom and... More Information ▶
Here’s the latest snapshot from the ATO (out quarterly) of what SMSF Trustees are doing with their money: 516,925 total number of SMSFs representing 986,441 trustees Controlling 31.5% of all Super assets (up from 10% just a decade ago) at over $531b Average fund balance over $1m As at Sept 13, 77% of all SMSF assets in direct Australian Shares... More Information ▶
