CURRENCY: This issue of Client Alert takes into account all developments up to and including 16 March 2016. Deadline looming for SMSF collectables compliance From 1 July 2011, self managed superannuation fund (SMSF) investments in collectables and personal-use assets have been subject to strict rules under Superannuation Industry (Supervision) Regulation (SIS Regulation) 13.18AA. The ATO has reminded […]
Deadline looming for SMSF collectables compliance The ATO has reminded trustees of self managed super funds (SMSFs) that if they have investments in collectables or personal-use assets that were acquired before 1 July 2011, time is running out to ensure their SMSFs meet the requirements of the superannuation law for these assets. Assets considered collectables […]
Some of the key advantages of having a corporate trustee include: Continuous succession – a company has an indefinite life span. A company makes succession to control more certain on death or incapacity. Administrative efficiency – on the admission or cessation of membership, that person becomes or ceases to be a director of the company. […]
Source URL http://www.smsfadviseronline.com.au/news/13714-class-hits-100-000-billable-smsf-portfolios Written by Staff Reporter from SMSF Advisor Thursday, 03 March 2016 Cloud accounting software provider Class has announced it now holds more than 100,000 billable portfolios following a busy start to the year. As of 29 February, Class had a total of 100,025 billable portfolios on its system, an increase of 3,388 portfolios […]
The power of re-contributing Re-contribution strategies can reduce the tax liability of an SMSF and its beneficiaries as well as allow members to qualify for Centrelink benefits. Karen Dezdjek illustrates how. A re-contribution strategy for SMSFs is easy to implement. It has the potential to deliver significant tax savings to both the member and their […]
Seven steps to better forecasting Business leaders make judgement calls every day. Philip Tetlock says there are ways to improve the chances of getting them right. Below are the seven steps to better forecasting. Break seemingly intractable problems into tractable sub-problems.Superforecasters split problems into knowable and unknowable parts. They flush ignorance into the open. “Expose […]
CURRENCY: This issue of Client Alert takes into account all developments up to and including 17 February 2016. Tax relief for small businesses that restructure on the way The Tax Laws Amendment (Small Business Restructure Rollover) Bill 2016 was introduced in the House of Representatives on 4 February 2016. It amends the ITAA 1997 by […]
Tax relief for small businesses that restructure on the way Small businesses are important to the Australian economy, as they facilitate growth and innovation. However, as a small business develops over time, its initial legal structure may no longer be suitable for the business. Where a business has to restructure to accommodate growth, the transfer […]
This morning some of our team members went to the Sydney Luna Park for the MYOB INCITE 2016. What we learned from the MYOB Roadshow today is that how the MYOB solutions will define what we do in business tomorrow. The topics include; When accounting is more that just punching the numbers Solving a cash […]
MYOB Dragged Bookkeeping into The Modern, Computerised Era ‘Relentless innovation’ Acuity (February 2016): 23-26. Print MYOB have published an article in Acuity Magazine outlaying their future strategy. There are of the opinion that R & D is essential and they will be part of Innovation and are spending 13-16% of their annual revenue on R & […]