News

Financial Planning, Pensions

Minimum pension reduction popular

minimum pension retirees

A significant majority of retirees are taking advantage of the minimum pension reduction originally introduced for the 2020 income year.

read more
ATO, Auditing

SAN misuse on the rise

SAN misuse SMSF returns

The ATO has found the misuse of SMSF auditor numbers on fund annual returns rose in the 2021 income year.

read more
Contributions

Downsizer time parameter now significant

downsizer contributions SMSF

SMSF members under the age of 65 can qualify to make a downsizer contribution if the settlement on the sale of their residence was made this month.

read more
Documentation

Unique deeds can be troublesome

SMSF trust deeds clauses

SMSF trust deeds with unique clauses that may eventuate in the fund trustees having to take unwanted actions should be avoided.

read more
ATO, Superannuation

Wind-ups don’t need nil balances

ATO SMSF balances

A balance sheet indicating a fund has zero balances is not required by the ATO for an SMSF wind-up procedure to take place.

read more
Cryptocurrency

Economic conditions make crypto appealing

cryptocurrency SMSFs

The high-risk and high-return potential of cryptocurrency could be the investment strategy SMSFs need during a rising inflation market.

read more
Financial Planning

Net adviser movement concerning

financial advisers

The financial advisory sector is continuing to see a talent shortage even though fewer practitioners exited the industry in the March quarter of 2022.

read more
Contributions, Regulation

Downsizer timeframe now changed

downsizer contributions

An impending legislative change means individuals do not have to forgo making downsizer contributions even if they are not made at age 60.

read more
Investments

Lack of detail not a free hand

SMSF deed investment

A lack of details in an SMSF trust deed does not imply trustees have a free hand when considering what makes an acceptable investment.

read more
ATO

SMSF messaging provider list updated

ATO SMSF messaging providers

The register of SMSF messaging service providers that can facilitate transactions using SuperStream has been updated by the ATO.

read more

Copyright © SMS Magazine 2024

ABN 43 564 725 109

Benchmark Media

Site design Red Cloud Digital