Self Managed Super & Retirement

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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Diverting income earned from personal services to smsfs - image

Diverting Personal Services Income To Self-Managed Super Funds

By Wen Wen / February 28, 2019

Arrangements on personal services income diverted to SMSFs The ATO has announced that it is reviewing arrangements where members of an SMSF (typically at, or approaching, retirement age) purport to divert income earned from their personal services to their fund, which results in minimising or even avoiding tax altogether on that income. The ATO says […]

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Bitcoin as a possible SMSF investment - image

Bitcoin As A Potential SMSF Investment

By Wen Wen / December 10, 2018

Bitcoin as a possible investment Is Bitcoin a suitable investment for your SMSF? The dramatic rise in value (and then fall) of bitcoin and other cryptocurrencies has sparked interest among SMSF trustees on its potential as an investment medium, particularly in a marketplace of low-interest rates, erratic share markets and an easing in property values. While […]

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