News
ATO investigating errors in SMS alert service
The ATO is investigating system errors in its newly launched text message alert service for SMSF trustees which were mistakenly triggering alerts for trustees upon
February 14, 2020
The ATO is investigating system errors in its newly launched text message alert service for SMSF trustees which were mistakenly triggering alerts for trustees upon
The ATO has signalled it will not be preparing for the introduction of six-member SMSFs or the three-year audit cycle after it dropped them from
SMSF practitioners can breathe a sigh of relief following the release of official inflation figures for the December 2019 quarter, which did not reach the
Self-managed super fund (SMSF) expenses can be tax deductible provided that they comply with Australian taxation legislation. It’s important to understand that SMSFs should only
Most older Australians – 53% – worry they’ll run out of money in retirement, research by National Seniors Australia has found. The survey also found
This article examines the nature of disqualification and what convictions can preclude a person from forever being an SMSF trustee/director. Given the serious consequences of
Advisers wishing to provide SMSF advice should be required to complete an SMSF-specific qualification, the SMSF Association (SMSFA) has said. In its budget submission for
The SMSF Association has called for the phasing out of the limited licensing system for accountants, saying it forces SMSF clients to pay fees that
It’s been a long time coming but members are finally able to use the catch-up concessional contribution rules for the first time this year (2019–20).
The ATO has indicated it will be taking a closer look at lifestyle assets such as marine vessels, fine art and high-value motor vehicles in
When an SMSF member passes away midway through a financial year, the minimum pension payments for that year may not need to be met for
The ATO has advised SMSF professionals that its systems will be unavailable during the period between Christmas and New Year due to planned upgrades. In
Merry Christmas from the team at Practical Systems Super We wish you and your family a joyous and safe Christmas. Thank you for your wonderful support
Would you like more flexibility with your superannuation but don’t have the option to salary sacrifice? You can now claim a tax deduction on your
With end of financial year compliance now wrapped up, many practitioners are turning their attention to estate planning concerns. Cooper Grace Ward Lawyers partner Scott
Despite being the largest transfer of intergenerational wealth, the vast majority of Australians are not prepared, according to new figures. Perpetual has revealed that 76
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