ATO flexes muscles on lodgement deadlines - but is that really a bad thing?
The ATO updated its policies around the implication of late SMSF Regulatory returns on Wednesday - alerting trustees and accountants via changes to its website.
Read MoreKeep up to date with the latest changes, insights and opinions from Heffron's leading SMSF experts. Select a topic of interest or browse our most recent articles.
The ATO updated its policies around the implication of late SMSF Regulatory returns on Wednesday - alerting trustees and accountants via changes to its website.
Read MoreThe ATO recently identified approximately 18,000 SMSFs who hold 90% or more of their assets in a single asset or a single asset class. The ATO is concerned that these funds may not have met their investment strategy requirements.
Read MoreThe term “as soon as practicable” appears several times in tax and superannuation law – it’s never defined and often has different meanings depending on the context.
Read MoreThere does not appear to be any restriction in the Superannuation Industry (Supervision) Act or Regulations (SIS) which would prevent a person acting under an EPOA from completing and signing a BDBN.
Read MoreNo, but it may still be appropriate to do so depending on the fund’s future intentions.
Read MoreThe 1 July 2017 changes to superannuation pensions introduced a new rule of thumb – most people can only convert $1.6m to a retirement phase pension over their lifetime.
Read MoreCan an SMSF receive excess concessional contributions when a member has reached the $1.6m total super balance limit? SMSF Magazine featuring our own Meg Heffron explains the fine details.
Read MoreMost practitioners would be aware that superannuation is not covered by the deceased’s will and can only be paid to a limited group of beneficiaries. The practicalities are often still quite opaque.
Read MoreThe Government has introduced two bills to the House of Representatives; one that had previously lapsed when the Federal Election was called, and one containing a long overdue improvement to salary sacrificing.
Read MoreApproximately 10% of SMSFs own commercial property and often this commercial property is leased to a related party. There are a number of rules to follow to ensure the arrangement complies with the superannuation / tax laws.
Read MoreWith a new financial year upon us, you may be thinking about what contribution caps apply for the 2019/20 financial year.
Read MoreNormally any conversation about accessing superannuation is linked to retirement. But in superannuation, only people who have worked at some point can actually retire.
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