Trust deed must include certain items
An SMSF trust deed must have a series of non-negotiable items in it, such as rules allowing the use of a contribution suspense account.
Categories for Financial Planning News
Downsizer and bring forward combination creates new opportunities for super strategy
With the recent bring-forward measures passed along with further extension proposed in the federal budget, its combination with potential downsizer rule changes creates a different perspective for the SMSF strategy when it comes to implementation.
What’s your risk profile?
Your attitude to risk is one of the most important factors to consider when it comes to investing.
Tax Time Checklists – Super Funds; Individuals; and Company, Trust, Partnership
Working from home because of COVID-19 means most will have more deductions than in a normal year. These checklists will help your tax agent ensure you don't miss any deductions. Simply print, complete and return.
Drawdown relief for all pensions
The reduced minimum pension relief that will now apply for the 2022 financial year is not restricted to account-based pensions, said a legal specialist.
ATO extends Division 7A relief
The ATO made an extension relief for affected taxpayers and related SMSFs who are unable to meet the minimum yearly repayments on Division 7A loans due to COVID-19.
Tax time: calculating investment income and deductions
Here's a check list of what you will need to include in your 2020-21 income tax return.
Budget measures designed to give retirees control in increasingly ‘opaque’ super environment
Senator Jane Hume has assured that the superannuation measures announced in the federal budget aren’t aimed to force retirees to draw down on savings but instead create greater control in an increasingly complex super environment.
New SMSF quarterly statistics highlight continued post-COVID recovery
The ATO’s newly released March 2021 quarterly statistical report has revealed the total number of SMSFs will soon hit 600,000, with consistent growth seen across establishments and assets as the industry heads into a post-COVID economic recovery.
ATO issues final warnings on outstanding SARs
The ATO has issued its final alerts for SMSFs with outstanding SARs, warning that failure to lodge may lead to serious consequences.
