Supernova Consulting uses Class Super for our daily and monthly administration services Client View gives trustees and their advisers unprecedented access to their super fund balance, investment returns, contributions and pensions updated daily Why not take a look at this video which provides an overview of
Source: Diverting personal services income to an SMSF | Australian Taxation Office
The information below may help you avoid potential pitfalls when preparing your SMSF annual return. Providing electronic funds transfer (EFT) details at Section A, Question 7 7A – Bank account (Super payments) The bank account you nominate for super payments and tax refunds must belong
The end of the financial year is a good time to review your SMSF arrangements to ensure everything is set up for success in the coming year. Below are a few areas you may wish to consider as part of that review. Review Pension and
The concessional tax treatment for income from Transition to Retirement income streams (TRIS) will be removed from 1 July 2017. TRIS allows members to reduce working hours and supplement this income with a regular ‘income stream’ from super savings. Employer contributions are paid to the
Budget introduces the biggest changes to super in 10 years Key points: • Tax-free super pension balances capped at $1.6 million • 30% Contribution tax Income threshold reduced to $250,000 • Other contribution changes $1.6 Mil cap on Tax Tree Pensions introduced The key group
The Electronic Lodgement System (ELS) is being retired. SBR is the new software format to be used by tax professionals to send reports and data to the ATO and other government agencies The aim is to: Increase productivity: less time on paperwork Low Cost: built into
The ATO, recently released guidance statement PCG 2016/5 which changes the terms for related party Limited Recourse Borrowing Arrangements (LRBAs). This Guideline sets out the ‘Safe Harbour’ terms on which SMSF trustees may structure their related party LRBAs for income tax compliance purposes, (ie loans
There has been talk about the government considering reducing the capital gains tax (CGT) discount for super funds. The looming federal budget being delivered on May 10 is an opportunity for the government to address any perceived inequities in the system. Prime Minister Malcolm Turnbull
Excel SMSF Minimum Pension Calculator from $55 calculate the minimum pension payment required for members over 60 input the pensioner’s nominated amount and frequency Provide a pre-populated Pension Request form, Trustee Resolution and Pension Schedule Bonus feature – our pension calculator can provide an estimate, based
