News Archives - Self Managed Super Funds

News

Work Test Exemption Change?

Jane Hume, assistant Minister for Superannuation, Financial Services and Financial Technology confirmed on 20 February 2020 that the work test exemption would be extended to age 67 years prior to 30 June 2020. This would enable a 67 year old … Continue reading

Posted in News | Leave a comment

Regulation Details Removed

The pain has started! If the ATO deems you are more than 2 weeks late lodging your SMSF return, they will remove your details from Super Fund Lookup. This means your fund is no longer able to receive employer contributions … Continue reading

Posted in News | Leave a comment

Late Lodgement Pain

SMSFs who lodge their annual return more than two weeks late will be suspended from receiving rollovers and employer contributions, according to advice from the ATO 18 September 2019. From 1 October 2019, funds whose annual returns were overdue by … Continue reading

Posted in News | Leave a comment

ATO and Cryptocurrency

As a point to note, the ATO has started collecting customer and transaction information from designated cryptocurrency service providers, where individuals and self-managed super funds (SMSFs) buy, sell and transfer cryptocurrency. The ATO will collect this data and match it … Continue reading

Posted in News | Leave a comment

2018 Most Popular Award

Received notice that we have ranked 3rd most popular accounting service for 2018 in the Search 4 Accountants website. Three years in a row now that we have ranked in the top 3 accounting businesses in Queensland.

Posted in News | Leave a comment

Nothing like a Win

We recently took on a client who had 17 years worth of outstanding returns to process and the ATO were on their back. The Super Factory negotiated a timeline suitable to all parties, lodged all outstanding returns on time and … Continue reading

Posted in News | Tagged , , , , | Leave a comment

Time to Plan your Super Contribution

Now that PAYG earners can make concessional contributions and claim a tax deduction for them, it is time to consider whether this is a strategy for you. All income earners can now maximise their total super contributions to the concessional … Continue reading

Posted in News | Leave a comment

ASIC and Auditors

ASIC has just deregistered over 100 SMSF auditors for failing in their regulatory obligations. ASIC continues to exert pressure on  SMSF auditors increasing their regulatory burden of auditing and reporting. Along with the imposition of a $2000 annual fee just … Continue reading

Posted in News | Leave a comment

Short pre 30 June 2018 Checklist

1  Ensure your minimum pension is paid by 30 June 2018 2  Consider whether to maximise concessional contributions up to the $25,000 cap. Employees are now eligible to supplement their employer contributions without the need for salary sacrifice arrangements or … Continue reading

Posted in News | Leave a comment

Skills 4 Professionals

The Flynn Group has recently released this innovative app that collates the qualifications of a professional in one easy to reach central location. Certificates can be photographed and converted to a pdf on the fly. CPD points all stored in … Continue reading

Posted in News | Leave a comment
Self Managed Super Funds