by LBWCA | Dec 8, 2015 | Personal Wealth, SMSF
For the past 6 years the ATO have been delivering a statistical snapshot of the vast amount of data they collate each year from Self-Managed Superannuation Funds (SMSFs). The most recent of which was based on 2013-14 financial year data and was released in late...
by LBWCA | Nov 10, 2015 | Estate Planning, Personal Wealth
The death of a taxpayer brings with it many consequences, not the least of which is administration of the deceased’s tax affairs – both before and after death. When a taxpayer dies, the following chain of events is set in motion, all of which have income tax...
by LBWCA | Nov 2, 2015 | Personal Wealth, SMSF
Do you still own collectibles or personal use assets in your Self Managed Superannuation Fund? If so, that’s OK, but make sure you understand the new rules and ensure that they are adhered to by 30th June 2016. The assets in this class include items such as artwork,...
by LBWCA | Oct 10, 2015 | Personal Wealth, SMSF
The ATO has announced it will be extending the compliance deadline for small businesses with less than 20 employees to adopt SuperStream until Friday 28 October. The ATO will be working with those still struggling to adopt the payment standard to ensure they are ready...
by LBWCA | Jul 22, 2015 | Personal Wealth, SMSF
At a recent CPA SMSF Conference the Acting Assistant Commissioner for Superannuation Kasey Macfarlane announced the ATO were targeting certain areas in relation to SMSF. These include: Dividend Stripping arrangements (TA 2015/1) – activities where taxpayers use SMSF...
by LBWCA | Jun 22, 2015 | Personal Wealth, SMSF
This is a reminder for everyone to check prior to 30 June 2015: Concessional Contribution – Check that you haven’t breached the $30,000 employer contributions limit (or $35,000 if you are over 50 years) if you have been salary sacrificing into super. If you...
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