Hi Everyone,This post is to add some of our important documents to our website. Feel free to share these documents and any feedback is welcome.SMSF Take Back Control (Existing SMSF's)Supervision's Online Services (Super Gateway)SMSF Capability StatementSMSF Take Control (New SMSF's)SMSF Case Studies TransferSMSF Case Studies...
1. Trustees Obligations to SMSF Membersa. All decisions are made to maximise growth in retirement savings of the member/s.2. Applying Trustee Obligations to COVID-19 Rent relief and State rules.a. SMSF's should not offer rent relief to tenants unless; i. The tenants have requested it & ii. The...
We wanted to update you with the most current information for the JobKeeper Scheme as of 14 April 2020. The ATO has released the following operational guidelines. We are here to help you understand and navigate the tasks required over the coming weeks. There are...
Late on Wednesday, 8 April 2020, Parliament passed the Coronavirus Economic Response Package (Payments and Benefits) Bill 2020 and the Coronavirus Economic Response Package Omnibus (Measures No. 2) Bill 2020. The first of these measures authorises the introduction of the “JobKeeper” scheme, which will provide wage...
Income Tax Instalments – all businesses The Australian Tax Office (ATO) will provide administrative relief for certain tax obligations (similar to relief provided following the bushfires) for taxpayers affected by the Coronavirus outbreak, on a case-by-case basis. This includes the ability to defer payment of certain taxes...
Where can I get information on health and safety in the workplace? • The Australian Government Department of Health • WA State Public Health Unit • Safe Work Australia • WA State workplace health and safety body • Comcare (Commonwealth) – for Australian government employees. When can employers’ direct employees to...
To all our valued Clients and Supporters,Following on from our most recent communications to you late last week, we wanted to provide you with further information on the impact of COVID-19 to you, your business and the greater community as we see it.We have taken...
There is an exciting opportunity for eligible Australians starting this financial year. It is the ability to bring forward unused concessional contribution caps from prior years if your individual members balance is under $500,000. Whilst the existing concessional cap of $25,000 has not changed, this...
The budget has not uncovered any major Superannuation changes. With the call on the election date imminent, this budget has left out any changes that could be considered controversial. You will see below that minor tweaks have been preferred to further structural reform. This measure coupled...
From the 1st of July 2018, employers with 20 or more employees will be required to report payments such as salaries and wages, pay as you go (PAYG) withholding and super information in real time. Businesses with 19 or less employees will have another year...
If you want to reduce your personal tax this year, you are able to take advantage of changes to the Superannuation contribution rules.In the past, unless you were salary sacrificing, salary and wage earners were not able to contribute to Super to reduce their taxable income. ...
Are you currently saving for your first home and want some tax relief? The Australian Government has created this scheme to help first home buyers save for a deposit on their first home.To qualify, you cannot have previously owned a property in Australia. In addition, you...
"Downsizing" Contributions Are you over 65 and wish that you had put more money into Superannuation? Many older Australian's are now realising that topping up Super just before retirement is not as easy as they imagined, or it may now be even impossible for some.From 1...
We would like to remind all clients that from the 1st of July 2017, the concessional contributions cap has been lowered to $25,000 for everyone regardless of age.As this is a significant decrease, it is possible that your current salary sacrifice arrangements with your employer may...
Stability and confidence for superannuation is the good news coming out of the 2017-18 Federal Budget. With SMSF members still working through the wide-reaching and complex superannuation changes of the last Budget which take effect from 1 July 2017, this Budget’s minimal changes will result...
Superannuation changes just passed by the Australian Parliament are the biggest in number since 2007. This video takes the place of a face to face seminar and will cover the following topics:Pension Caps of $1.6 Million TRIS Tax Free Status Changes to Concessional & Non...
[vc_row][vc_column][vc_column_text]On the 9th of November 2016, the Government introduced legislation into Parliament that covers many area's of Superannuation under the auspices of fairness.The legislation is the result of amended 2016-17 budget reforms previously announced.Once passed by the Parliament, these measures will take affect for the 1st...
A properly constructed investment strategy is extremely important to guide you on your SMSF journey. Without an investment strategy that you can refer to, not only will you not met your legal requirements, but you may find it hard to reach your investment goals due...
We just want to remind all of our customers and potential customers that Supervision SMSF clients have an ESA (Electronic Services Address) to meet the newly introduced SuperStream Data and Payment Standard.This is your ESA code if you have missed our previous releases. smsfdataflow This service does...
Supervision SMSF has been conducting induction meetings for some time with new clients. Not only does it help people to improve their SMSF knowledge but also how Supervision can put it all together for you. We provide this induction as a free 1 hour information...
If you are paying more than $2,640 per year for your SMSF accounting work, regardless of how big your SMSF is and how it is invested then I am sorry to say you are paying too much.It's not normal for accountants to advertise how much...
Innovative and progressive firm Supervision SMSF has combined a perfect blend of online real-time services with flexibility and choice in its new service offering recently launched. The three packages available recognise there is a diversity in the attitude and values of investment assets held by...
A major transference of money from the current crop of retirees is now underway. Over the coming years, Baby Boomers will be passing on their remaining Superannuation wealth to their partners, children or in some cases grandchildren. This movement of money will provide the recipients...