Latest News

ATO changes its tune on SMSF borrowing

ATO changes its tune on SMSF borrowing

The ATO has long insisted that once a limited recourse borrowing arrangement (LRBA) has been fully repaid, the property must be transferred to the trustee of the SMSF, otherwise the investment will be an in-house asset (and for most SMSFs this will present compliance challenges). This has resulted in SMSFs incurring unnecessary expenses as a result of having to formally transfer the property, together with double duty in some cases.

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Thursday 6th February 2014    


The ATO's New Year Resolutions

The ATO's New Year Resolutions

The Australian Taxation Office has launched a new campaign that aims to help Australian businesses meet their tax obligations in 2014.

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Wednesday 15th January 2014    


The tax consequence of your Xmas party

The tax consequence of your Xmas party

With the festive season in full swing, employers around the country are hosting their end of year Christmas parties. It's important that employers consider the tax consequences involved in hosting a Christmas party and providing year end gifts to employees.

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Thursday 12th December 2013    


Spam Alert - ATO refund email

Spam Alert - ATO refund email

Many Australians have received an email from the address - returns@ato.com.au within the last two weeks.

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Tuesday 10th December 2013    


How a trust can be used

How a trust can be used

Trusts continue to be a very popular choice for Australian families in their pursuit for asset protection and tax minimisation. A trust can be a viable protection strategy for your families assets and can offer greater flexibility for year end tax outcomes.

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Tuesday 3rd December 2013     Family Trust, Discretionary Trust


ATO to review SMSFs

ATO to review SMSFs

Around one in every 30 self-managed super funds will be reviewed by the Australian Tax Office during the 2013-14 financial year, according to the ATO's compliance program. By financial year-end, the ATO intends to review more than 16,000 SMSFs, checking whether the selected funds comply with tax and regulatory obligations such as lodging returns on time and not using prohibited loans.

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Thursday 21st November 2013    


Insured in your SMSF?

Insured in your SMSF?

Following an amendment to the superannuation regulations, SMSF trustees must from the 2012/13 year onwards, give consideration to whether the SMSF should hold insurance cover for the members. The new regulation means that trustees, who are also normally the members, must now consider insurance in order to discharge their obligations under the SIS Act.

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Wednesday 30th October 2013     SMSF, Investment Strategy, SMSF Trustee


Employee or Contractor?

Employee or Contractor?

Over the past few decades there has been a clear shift away from traditional employment, and towards people acting as independent contractors or freelancing.

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Monday 12th August 2013    

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