Self Managed Super & Retirement

smsfs and property development arrangements

SMSFs And Property Development Arrangements (Emerging Risks)

By Wen Wen / September 14, 2021

4 ways to structure a property development investment There has been an increase in the number of SMSFs entering into arrangements where real property is purchased and developed to subsequently be sold or rented out. Such investments can help the fund build up its wealth more quickly than other forms, and from a tax standpoint, […]

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evidencing SMSF property valuations

SMSF Property Valuations – ATO Wants More Evidence

By Wen Wen / June 7, 2021

Audit evidence to support SMSF property valuations The ATO recently clarified the evidence that is required to support real property valuations within SMSFs, particularly in light of the unique challenges brought about by COVID-19. Under SMSF regulations, assets must be valued at market value in an SMSF’s accounts and financial statements each year. SMSF auditors […]

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The Federal Government issues new regulations to allow no more than six members in SMSF funds

SMSF To Allow Six Members.

By Wen Wen / October 19, 2020

New legislation changes the maximum number of members in SMSF funds … A bill has been introduced into Parliament that partially implements a measure to allow an increase in the maximum number of allowable members in self-managed superannuation funds and small APRA funds from four to six. First floated in the 2018-19 Federal Budget, the […]

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Superannuation tax offsets can help reduce your tax payable on your taxable income.

Superannuation Tax Offsets (What You Need To Know)

By Wen Wen / July 3, 2020

Two superannuation tax offsets Tax offsets directly reduce the amount of tax payable on your taxable income. In general, offsets can reduce your tax payable to zero, but on their own they can’t get you a refund. There are two superannuation-related tax offsets for which you may be eligible. The Australian super income stream tax […]

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Preparing an investment strategy is one of the SMSF trustee need to fulfil.

Investment Strategy | SMSF Trustee Duty Not To Be Forgotten

By Wen Wen / November 18, 2019

Preparing an investment strategy The majority of people who set up their own SMSF say that “control” is a big reason for doing it. There is flexibility and benefits in running your own superannuation fund, but it is also a big responsibility to make sure your fund grows and provides for your retirement. Preparing an […]

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Overview of the sole purpose test on SMSF

Sole Purpose Test On SMSF [Overview]

By Wen Wen / August 20, 2019

SMSF must meet the ‘sole purpose test’ to avoid penalties When commencing any self-managed superannuation fund (SMSF), there is one over-riding expectation that newly trustees should come back to again and again — that their fund must meet the sole-purpose test. This is not only to maintain access to the various tax concessions available, but […]

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