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Director Identification Number (DIN) and its purpose
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Director Identification Number (DIN) and its Purpose

Date: May 6, 2022
Categories: Superannuation
You may have heard about the new rules which require directors of Australian companies to obtain a Director Identification Number (director ID). The new requirement to obtain a director ID also applies to individuals who have an SMSF with a corporate trustee, which is why we wanted to bring this new ...
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SMSF Income Protection Insurance

Date: April 8, 2022
Categories: Superannuation
Income protection insurance can provide a safeguard when you become sick or injured and are unable to work, leaving you unable to make your usual SMSF contributions.What is SMSF Income Protection Insurance?Most industry and retail super funds offer default income protection insurance for thei ...
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Latest Annual Stats – SMSF Sector Continues to Grow

Date: March 8, 2022
Categories: Superannuation
The ATO has released its annual statistical overview of SMSFs for the 2019-20 financial year based on SMSF annual returns in addition to 2020–21 information from registrations, wind-ups, and auditor contravention reports.Highlights include:598,000 SMSFs holding $822 billion in assets, with ...
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New insolvency Legislation – Impact on SMSF corporate trustees
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New insolvency Legislation – Impact on SMSF Corporate Trustees

Date: February 7, 2022
Categories: Superannuation
At the beginning of 2021, changes were made by the Government to the insolvency framework to better support Australian businesses, their creditors, and their employees. Amendments were made to relevant legislation to integrate this new insolvency process into existing practices following this change ...
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Superfund 2021 Returns: Rise above 12% Observed

Date: December 31, 2021
Categories: Superannuation
This year’s result represents a continuing reward for those members who’ve remained patient and trusted their funds to weather the crisis.Australian shares lost 0.5 percent during November, while international shares dropped 1.5 percent; however, the depreciation of the Australian dollar saw the ...
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What is an SMSF Collation Package?

Date: December 9, 2021
Categories: Superannuation
The Collation Package is a collection of all reports generated in a financial year. The Package consists of Financial Statements, Audit reports, with information about Superfund Assets, Member balance, Tax payable/refundable, Member super contributions, pension payment, and Audit details.These repor ...
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Employee’s super will now follow them

Date: November 9, 2021
Categories: Superannuation
From 1 November 2021, there is an extra step that employers may need to take to comply with the choice of super fund rules.If a new employee does not choose a super fund, most employers will need to request the employee's stapled super fund(an existing super account which is linked) details from us ...
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ATO Updates (August 2021)

Date: August 9, 2021
Categories: Superannuation, Tax
INDUSTRY UPDATES: New Services to attract Foreign BusinessesThe ATO has launched its New Investment Engagement Service (NIES) on 1st July 2021.The purpose of launching these services is to promote confidence & assist foreign Investors in understanding potential tax risks ar ...
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Your Future Your Super Policy: What it really means?

Date: July 6, 2021
Categories: Superannuation
Superannuation system that we have now, has gone under quite a few reviews since 2013. The reviews were commissioned by the Coalition Government to ensure that the system is working for the Australians. Upon a 2014 Financial System Inquiry (FSI), it was observed that super industry needed to improve ...
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The First Home Super Saver Scheme

Date: March 9, 2021
Categories: Superannuation
The first home super saver scheme , commonly abbreviated as FHSS allows eligible first time home buyers to voluntarily contribute to superannuation and withdraw an amount (plus earnings and less tax) to buy a first home.Eligibility for the FHSS Scheme :Individual at least 18 years oldHave never owne ...
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