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Self-Managed Superannuation Fund (SMSF) auditors have recently received a lot of media attention following new and updated independence guidelines issued by the Accounting Professional & Ethical Standards Board (APESB), about how SMSF audits must be conducted going forward.
The Department of Home Affairs continues to focus on its economic recovery plan with a carefully managed migration program which aims to help Australia’s economy rebound from COVID-19.
When you invest in a superannuation fund, one of the benefits you expect to receive as a member is that fund income will be taxed at a concessional tax rate of 15% (10% for capital gains where the asset is held for longer than 12 months) or 0% after the retirement phase pension commences.
The 2020 Federal Budget announced additional funding over four years to implement changes deigned to protect superannuation member’s retirement benefits via increased levies on regulated financial institutions.
Losing a loved one is never easy. The last thing on most people’s minds when this happens is what to do about the person’s superannuation. During this period of grief, it can be reassuring to know you or your loved one have made plans to make the process of dealing with their superannuation...
The Australian Taxation Office (ATO) is seeking insight into how many Self-Managed Superannuation Fund (SMSF) trustees are aware of, using, or intending to access the COVID-19 stimulus measures that allow the halving of minimum pension drawdown amounts.
Despite consecutive Federal Governments making changes to superannuation rules and regulations, superannuation remains one of the most attractive investment options for many Australians. The low rate of tax in the accumulation phase and zero tax rate in the pension phase makes it hard to beat...
As a result of the significant changes occurring in Australia’s financial services industry, you may have found yourself without a financial adviser, or being pressured by your financial advice institution to reclassify as a significant or wholesale investor. Let us explain the changes to the...
If you are responsible for preparing a client’s SMSF’s annual Financial Report, a new accounting standard released by the Australian Accounting Standards Board (AASB) may affect its creation or amendment when the Standard comes into effect in July 2021.
In March 2020, the Australian Taxation Office (ATO) announced it will commence contacting individual trustees or members of Self-Managed Superannuation Funds (SMSFs) when the fund’s details are updated at the ATO.