Top Menu

Author Archive | Joel

Bill to pay vector illustration. Bill payment design in flat style. Hand holding bill. Paying bills concept. Payment of utility, bank, restaurant and other bills. Giving or receiving bill.

Accountants… It may be time to invoice your SMSF.

Legislation has recently passed to strengthen the non-arm’s length income (NALI) provisions contained in section 295 of the ITAA97. Non-arms length income derived by a SMSF can be taxed at the highest marginal rate rather than the 15% concessional rate. Starting from the 2018/19 year, the provisions will also apply where a SMSF deals with […]

Continue Reading 0
Cartoon Humor Concept Illustration of Dont Put All your Eggs in One Basket Saying or Proverb

The ATO is cracking down on SMSF investment strategies

How compliant are your clients? At the heart of your client’s SMSF is their investment strategy. It’s why they wanted to manage their own super. They believed they could do a better job. At the heart of superannuation is the ability for Australians to provide for a happy retirement. To have financial independence and enjoy […]

Continue Reading 0
What an SMSF audit is not [image]

What an SMSF audit is not

Are your clients getting value from their SMSF audit? There has been a lot of noise in the industry about new technology and low-cost SMSF audits. It’s possible that your clients are questioning the cost of their SMSF audit and asking about cheaper options. To help you explain the difference between low-cost and high-quality audits, […]

Continue Reading 0
Snapshot of the 2018 Federal Budget’s proposed change to a three-year SMSF audit cycle.

Three-year SMSF audit cycle proposal raises questions

Will the changes be in trustees’ best interests? It’s there in black and white in the 2018 Federal Budget: “The Government will change the annual audit requirement to a three-yearly requirement for self-managed superannuation funds with a history of good record keeping and compliance.” However, the predicted benefits to trustees of having a three-year SMSF […]

Continue Reading 0
TSA to be

To be, or not to be. Actually, when to TBAR. That is the question.

Alas, after navigating through the June 2017 reforms; transfer balance caps, CGT relief, new contribution caps and total superannuation balances, it is time to take arms against a new sea of troubles… What is a TBAR and why is it needed? “Though this be madness, yet there is method in it” As we are all […]

Continue Reading 0