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...
by LBWCA | May 25, 2015 | Personal Wealth, SMSF
SuperStream is a new set of measures designed to improve the “behind the scenes” workings of the Superannuation system. This is done by employers sending contributions electronically to their employees’ funds, as well as transmitting this data in a standard format. As...
by LBWCA | Feb 22, 2015 | Financial Planning, Personal Wealth
We have recently heard from a few clients asking about the changes to the above card. From 1 January 2015 there has been a major change in the rules for this card being that the new rules deem income from account based income streams – these were previously exempt as...
by LBWCA | Jun 30, 2014 | Personal Wealth, SMSF
From 1 July 2014, trustees of an SMSF cannot provide an insured benefit in relation to a member of the fund unless the insured event is consistent with one of the following conditions of release of a member’s super benefits: deathterminal medical conditionpermanent...
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