If the need for residential aged care is nearing you or a loved one, following these five steps will help you make a smoother transition. 1. Get your eligibility assessed... read more →
While interest rates remain at historically low levels in many parts of the world, including Australia, thousands of mortgage holders have enjoyed lower repayments; but interest rate movements mean different... read more →
The Latin phrase “Caveat Emptor” or “let the buyer beware” should certainly be used far more often in the SMSF market, particularly for those enticed by cheap administration offers. Unlike... read more →
Life in your 50's is great. You don’t have a huge mortgage, the kids have grown up and are not as dependent on you, your career has progressed… So what... read more →
Self-managed super funds (SMSFs) are the largest and fastest growing super sector in Australia and for many good reasons. But before you start an SMSF, it’s important to weigh up... read more →
June 30 is fast approaching but there’s still time to consider strategies to help you build your wealth and reduce the amount of tax you pay. Pay interest in advance... read more →
There will be no changes to the super contributions caps for the 2015/16 year. Limits will remain the same as last year: Concessional (before tax) contribution cap (age as at 30... read more →
The 2015 Budget made sweeping changes for individual taxpayers and families with its focus on improving the economy. Car expense deductions The Budget has introduced new modernised methods for calculating... read more →
The compliance requirements for SMSFs are extremely stringent, and it is important for trustees to be acutely aware of their responsibilities. Of course, your accountant is there to help you... read more →
The end of financial year is a good time to think about your capital gains and losses for the year. Timing and planning are everything when it comes to minimising... read more →
Every year, the ATO announces a number of compliance targets that will be subject to additional scrutiny. It always pays to be aware of these focuses, as non-compliance is, more... read more →
The compliance requirements for SMSFs at end of financial year are extremely stringent, and it is important for trustees to be acutely aware of their responsibilities. Of course, your accountant... read more →
Effective planning and preparation is critical for all taxpayers as the end of financial year approaches. The good news is that your tax professional is here to support you, so... read more →
A 2015 Supreme Court decision is both good news and a caution for contributions to super and SMSFs and bankruptcy. A recent court decision demonstrates what can happen when a... read more →
Munro v Munro [2015] QSC 215 is the latest case involving a binding death benefit nomination (‘BDBN’) that was held not to be binding. This case is a very important... read more →
Knowing exactly what needs to be considered before getting your asset allocation right inside (or outside!) a Self-Managed Super Fund (SMSF) is not just a smart move in terms of... read more →
Once it is clear that an SMSF has run into problems, it seems counter intuitive to some trustees to assist the ATO in investigation or in prospectively rectifying issues. However,... read more →
Introduction The question seems simple enough — what should you do when the trust deed for a self-managed superannuation fund (‘SMSF’) is lost? The answer to this question is becoming... read more →
Generally, a pension must be paid in cash. However, not every SMSF has ready cash to satisfy the minimum. Thus, it provides much needed flexibility when a pension can be... read more →
Treasury released draft legislation recently that will impact limited recourse borrowing arrangements. For full details see http://www.treasury.gov.au/ConsultationsandReviews/Consultations/2015/Look-through-treatment-for-instalment-warrants We consider the major changes for SMSFs and limited recourse borrowing arrangements. Background Naturally,... read more →