As a trustee you need to have time and skills to set up an SMSF. You need to have the time and skills to manage your Self managed super fund, and there are ongoing running costs. As a trustee of an SMSF you’ll be responsible for operating your fund within the law. If you don’t,…
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It is fast approaching the 30th of June so now is the time to run through a checklist of what you need to do prior to the end of the financial year.
You reap what you sow, or so the saying goes, but do you ever feel like what you put in just doesn’t amount to what you get out? Whether you’re visiting Farm Fantastic as a keen gardener, hobby farmer or agricultural guru, getting the right advice on your accounting, tax and finance matters can see…
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The 1 July 2017 superannuation reforms introduced a new reporting regime for funds. Funds now need to advise the ATO of key events within the fund that impact on retirement income streams (pensions):
In Australia, around 77% of SMSF’s currently have individual trustees. However, the case for using a corporate trustee is growing stronger and we are now seeing an annual shift away from individual trustees. In this issue, we investigate some of the reasons why this is the case:
Changes to superannuation laws in 2007 provided SMSF’s the opportunity to borrow for the purpose of acquiring a single asset (such as a commercial or residential property) through their SMSF. If the SMSF has a deposit that meets the lenders requirements the lender will provide the balance of the purchase price. Legislation requires that the…
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