News & Insights
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Tax
Why does my auditor keep asking me to revalue SMSF assets?
All self-managed super funds should expect trouble if they are not re-valuing each asset every June 30 – and sometimes more ...
Meg's Musings
Meg's Musings | August 2021
As I wondered what to write for this month’s Meg’s Musings, I looked back over what I said around this time last year. I can’t ...
Trustee
Permanent records - what are they and can we stop keeping them?
No one is going to disagree – good record keeping is essential for any SMSF. But as the years click over and more work is ...
Legislation
6 SMSF tips for the new financial year
A new financial year always brings a new “to do” list. With one month over already, we’ve put together a list of 6 tips that ...
Legislation
SMSF NALE | ATO Non Arms Length Expenses
A key ATO ruling (LCR 2021/2) was released today to update the original draft from 2019. It deals with the vexed issue of when ...
Trustee
New rules if you put too much into super
It’s well-known that there are limits on how much can be put into super every year. We call these limits “contribution caps” ...
Pension
Segregating pension assets for ECPI post July 1 2021
Since 1 July 2017, $1.6m has been a magic number in superannuation for all sorts of purposes, most notably the general transfer ...
Legislation
New bring forward rules from 1 July 2020 finally legislated
New rules allowing individuals to initiate a “bring forward” of future years’ non-concessional contribution caps up until the ...
Meg's Musings
Meg's Musings – July 2021
Well one financial year ends and another begins. At Heffron we were fortunate to kick off the new year with a (positive) bang – ...
Ask an Expert
My clients want to use the new 6 member rule for their SMSF to include their 4 children – can they? Should they?
The first question is simple – they can. This legislation has passed and takes effect from 1 July 2021. The second question is ...
Trustee
New rules for excess concessional contributions - what do they really mean?
The concessional contributions cap increases from $25,000 to $27,500 from 1 July 2021 – a good thing for anyone wanting to add ...
Trustee
Three tips when changing SMSF trustees
Many decisions about the structure of a self-managed superannuation fund are made when the fund is first set up – including who ...
