Accounting & Advisory Firm Melbourne & Geelong

Transitional Provisions for SMSFs

The Government will apply transitional arrangements to SMSFs affected by the retrospective aspects of the Federal Budget’s proposal to limit non-concessional contributions. In the 2016-17 Federal Budget, the introduction of a lifetime cap of $500,000 on non-concessional superannuation contributions, including contributions since 2007, was announced.

22 August 2016 John La Rocca

Reviewing your Personal Insurance Policy

Reviewing your personal insurance policy may seem like a monotonous task, however, a periodic review can ensure your policies are high quality, competitive and are still right for you.

22 August 2016 Anthony Bourke

Avoiding SMSF Disputes

Self-managed super funds (SMSFs) can be vulnerable to disputes, especially when family members are involved. If left unresolved, disputes surrounding SMSFs can result in a hefty bill. SMSF disputes may be caused by various relationship breakdowns, for example, those funds with parents and siblings as members and trustees, or in cases where there is simply a clear difference of opinion.

22 August 2016 Neal Dunne

ATO Targeting SMSF Tax Avoidance

The Australian Tax Office has its sight set on an emerging tax avoidance tactic being taken up by a number of self-managed superannuation funds. The ATO has warned individuals (at or approaching retirement age) not to use a strategy known as diverting personal services income (PSI) through their SMSF to minimise or avoid their income tax obligations.

17 August 2016