by Financially Sorted | May 30, 2024 | Business, Small Business, SMSF, Superannuation
A major update to the small business superannuation clearing house (SBSCH) was introduced on 15 March 2024 that potentially impacts businesses being able to make superannuation guarantee contributions into SMSFs. SMSFs must have their bank account registered with the...
by Financially Sorted | Apr 1, 2024 | SMSF, Superannuation
How much will you and your family need in retirement? Although the projected growth in the pool of superannuation savings is certainly heading in the right direction, the harsh reality facing those not far off retirement is that they will have nowhere near enough to...
by Financially Sorted | Oct 1, 2023 | SMSF, Superannuation, Tax Returns
Are you looking for ways to increase your retirement savings and reduce your tax? If so then, you are in luck. There are several ways you can contribute to your super, depending on your personal circumstances. Here is one way you can grow your super and access tax...
by Financially Sorted | Sep 1, 2023 | ATO, Property Investment, SMSF, Tax & Accounting
Once again, the ATO has targeted SMSF property development schemes that divert profits of a property development project to a SMSF. This time, the focus is on using a special purpose vehicle (SPV), which the SMSF directly or indirectly owns. It appears that some SMSF...
by kirstyb | Aug 7, 2023 | Superannuation
In Australia, the age at which you can access your superannuation (retirement savings) depends on your “preservation age.” The preservation age is the minimum age at which you can access your superannuation, provided you have met a condition of release....
