by kirstyb | Sep 12, 2022 | SMSF, Superannuation
When a self-managed super fund (SMSF) member dies, the SMSF generally pays a death benefit to a dependant or other beneficiary of the deceased. This should be done as soon as possible after the member’s death. If the recipient is a dependant of the deceased, the...
by kirstyb | Sep 1, 2022 | Finance, Small Business, Superannuation
“Success is about creating benefit for all and enjoying the process. If you focus on this and adopt this definition, success is yours” Kelly Kim. Forget about how much you earn, whether it’s as low as a dollar an hour or if you are lucky enough to earn $1,000 dollars...
by kirstyb | Aug 2, 2022 | ATO, SMSF, Superannuation
ATO has it’s eyes focused on these claims. There are areas the ATO is cracking down on this financial year, and bringing about greater attention to them now makes it easier to know what’s ahead. From changing work-related expenses to the sharing economy...
by kirstyb | May 12, 2022 | SMSF, Superannuation
Proposed changes to SMSF on 1 July changes may prompt trust deed updates There are some changes possibly coming giving us a Superannuation Update 2022 – stay tuned! SMSFs with more prescriptive trust deeds may need to make updates in order to take up some of the...
by kirstyb | Feb 21, 2022 | Finance, SMSF, Superannuation
General duties as an SMSF trustee Your duties and responsibilities of being an SMSF trustee are serious and shouldn’t be taken lightly. The penalties can be quite onerous if breaches occur. To know your general duties as an SMSF trustee is essential. Even though...
by kirstyb | Feb 16, 2022 | Finance, SMSF, Superannuation
Sole purpose test – What Does This Mean? Your SMSF needs to meet the sole purpose test to be eligible for the tax concessions normally available to super funds. This means your fund needs to be maintained for the sole purpose of providing retirement benefits to your...
