Over the past year, individuals have been overloaded with information on how the state of the world will impact their personal financial situation. As a result of all this ‘noise’, you may have missed important changes and updates to superannuation and how they will affect you in the future.
Elio began working in the financial services industry in 1989 and has been an Adviser since 2004.
On 15 October 2020, the Australian Taxation Office (ATO) released Practice Statement Law Administration PSLA 2020/3 to guide its staff on how to apply administrative penalties imposed on Self Managed Superannuation Fund (SMSF) trustees under subsection 166(1) of the Superannuation Industry...
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.
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.