SMSF Auditor
@accesssuper
Help you understand #superfund laws and regulations. News, updates and insights on #SMSF. Visit our blog https://bit.ly/2Nzqfe5
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Practitioners can apply some rules of thumb to help their clients choose the most suitable method of calculating ECPI for a given financial year. ow.ly/j1fP50Mxm1y #SMSF #financialplanning #financialservices #ausbiz #accounting #superannuation #smsmagazine
General Transfer Balance Cap increases to $1.9m from 1 July 2023. Read more: bit.ly/3HupwcJ #TBC #News
A reminder has been issued by the @ato_gov_au to SMSF trustees and auditors reminding both groups the COVID-19 compliance relief measures no longer apply: ow.ly/w6rr50JYJRL #SMSF #financialplanning #financialservices #ausbiz #accounting #superannuation #smsmagazine
Certain types of COVID-19 relief offered to #SMSF trustees for 2019–20 and 2020–21 have been extended to cover 2021–22 tinyurl.com/d934br7p
The ATO has extended the COVID-19 compliance relief measures, confirming they will apply to SMSFs for the 2022 financial year as well. Read more: zpr.io/BdBQcuTdiLLW #SMSF #financialplanning #financialservices #ausbiz #accounting #smsfs #superannuation #smsmagazine
NALE ruling finalised – some good news, some not so good. Read all the details in our latest blog by Meg Heffron bit.ly/3BOnfUP
Given the impact of COVID-19, ATO has announced they will take no action where an #SMSF gives a related party tenant a temporary rent reduction during 2019/20 and 2020/21. Fantastic news.
The @SMSFassoc is seeking guidance from the ATO on rental concessions for related party #property leases. Will most like follow precedents set in the general market over coming weeks.
The minimum pension requirements for 2019/20 and 2020/21 will be re-set to half the normal rates and there will be changes to the deeming rates used to calculate an individual’s income for a range of important government benefits. #Covid19 #superannuation #pension #SMSF
Retirees will benefit from the economic crisis package as two key retirement income arrangements are loosened in a move that should allow them to increase access to the pension and better manage existing super savings. bit.ly/2UuuXi9
The ATO will use its data matching powers to check if SMSFs are using high value assets for personal use in breach of the law. Read this article to know more. #SMSF #trustees #financialplanning #SMSFInvestments #SMSFInvestors #ATO smstrusteenews.com.au/2020/01/09/ato…
"For university educated accountants, the content that they have to learn to give limited financial advice was hardly a problem. It's the red tape and cost of getting a financial advice licence or being authorised under someone else's licence, that is likely the bigger obstacle"
Financial advice for SMSF trustees not working as intended smh.com.au/money/super-an… via @smh
The recent bushfires across Australia have impacted thousands. For those clients who’ve not been impacted and would like to help others less fortunate, can their SMSF play a role? Learn more: heffron.com.au/news/natural-d… #SMSF #super #bushfire #naturaldisaster #help
Some useful quick comparisons between reversionary and non-reversionary pensions that were presented at our Heffron Super Intensive Days - looking forward to next year! #HeffronSuperIntensiveDays #death #pension
ATO has released an updated draft ruling to explain new NALI rules. NALI will apply if resources of firm used to provide a non-trustee service and an arm’s length fee is not charged. Highly fact dependent but can’t think of a more plausible outcome? #smsf
The Treasury Laws Amendment (2018 Superannuation Measures No. 1) Bill 2019 has been passed by the Senate today without amendment. The Bill: ▪️ allows certain employees with multiple employers to apply for an employer shortfall exemption certificate whic…lnkd.in/gbXEYrQ
Increase your tax-free pension with a lump sum withdrawal for the approaching year. @HeffronMeg discloses super 'commutation' tricks to support with the $1.6m transfer balance cap. Read more in the AFR: afr.com/wealth/persona… #HeffronSMSF #SMSF #afr #lumpsum #balancecap
A new survey shows around half of Australians unaware of changes to #superannuation insurance starting in July. Some #SMSFs will also need to make preparations ow.ly/KOi150uB8B1
It’s official. Govt proposed changes to NALI, LRBAs and new SG opt-out rules for high income earners with multiple employers has not passed the Senate. As no sitting days left before election will be called, the Bill will lapse. #SMSF
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