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How to Stay Compliant and Ahead of SMSF Regulations

September 27, 2024
Superannuation
SMSF Audit and Assurance PracticeAs Self-Managed Super Funds (SMSFs) continue to grow in Australia, robust audit and assurance practices have become increasingly important. SMSF trustees are tasked with ensuring compliance with strict regulations, while auditors play a crucial role in preserv ...
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ATO Updates (September 2024)

September 6, 2024
Monthly Update
Our ATO updates blog provides key tax updates and regulatory changes. Stay informed with the latest insights to ensure compliance and informed decision-making.Have you appointed an Auditor?Appoint an SMSF auditor to audit your fund no later than 45 days before you need to lodge your SMSF annu ...
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New Thin Capitalisation Rules

September 5, 2024
Business Service
The recent changes to Australia’s thin capitalisation rules involve new earnings-based tests for certain entities, replacing the previous asset-based rules.The aim of these changes is to align Australia's thin capitalization rules with the best practice approach of the Organisation for Economic Co ...
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Understanding Business Activity Statement (BAS): Is Your Business Compliant?

September 5, 2024
Bookkeeping
A Business Activity Statement is not merely a procedural formality; it serves to ensure essential compliance with Australian tax legislation.Submitting a BAS guarantees that your business remits the accurate amount of tax, thereby mitigating potential legal complications, fostering a reputation for ...
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The Effect of Financial Reporting on The Valuation of Technology Firms

September 4, 2024
Financial Planning
Financial Reporting is critical in shaping the valuation of technology firms on the stock market. For investors, accurate and transparent financial statements are critical for determining a company's true value, particularly in the dynamic and often volatile technology sector.In technology firms, wh ...
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SMSF Should Register for GST

September 3, 2024
Superannuation
When managing a Self-Managed Super Fund (SMSF), one of the decisions trustees need to make is whether the fund should register for the Goods and Services Tax (GST). While this decision is often straightforward, certain situations can make it more complex. Let’s break down when and why an SMSF migh ...
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Addressing Australia’s Housing Affordability Crisis through Build-to-Rent Initiatives

August 7, 2024
Business Service
In Australia, there is currently a severe housing affordability crisis. To address this issue, the government has introduced tax measures aimed at the Build-to-Rent (BTR) sector. These measures include reducing income tax, stamp duty, and land tax for BTR investors. The goal is to make BTR projects ...
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ATO Update (August 2024)

August 7, 2024
Monthly Update
Changes to NALI for SMSFsThere have been changes to the NALI legislation which may impact your SMSF.Self-Managed Super Funds (SMSFs) must transact on an arm's length basis.Changes to the Non-Arm's Length Income (NALI) provisions in the Treasury Laws Amendment (Support for Small Business and C ...
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Insurance Inside Super has Tax Advantages

August 5, 2024
Superannuation
Holding insurance policies within Superannuation offers significant tax advantages, particularly for life and disability premiums, as highlighted by a leading technical specialist. Despite being uncommon, income protection insurance can be found in SMSFs, though complexities arise with benefit payme ...
comprehensive financial planning
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The Role of Financial Institutions in Promoting Microfinance

August 5, 2024
Financial Planning
The distribution of financial services to low-income individuals and groups is known as microfinance, and financial institutions are essential to this effort. Microfinance enables underprivileged groups to overcome poverty and attain economic stability by giving them access to loans, savings, and in ...
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