The ATO is gradually rolling out in the middle of this month providing Tax and BAS agent an access to total super balance and transfer balance cap information. ATO has started to make Online Services (the new system that tax and BAS agents will use...
What does diversification in investment means? It refers to the process of allocating savings to help reduce the exposure to one particular asset, asset class or risk. Diversification can help to reduce the risk or volatility associated with the investment portfolio. To simplify it, diversification helps...
Imputation credits or Franking Credits are a type of tax credit that allows Australian Companies to pass on tax paid at the company level to shareholders. Franking credits can be used to reduce income tax paid on dividends or potentially be received as a tax...
A trustee can be anyone who is over 18 years old provided they are not under a legal disability or are a disqualified person. How can an individual or a company becomes a disqualified person? Here are the following conditions that applies to become a disqualified person. Individual convicted...
Excess transfer balance occurs when the amount you transfer into retirement phase exceeds your transfer balance cap. This is the sum of the amount that exceeds your transfer balance cap and the earnings on the excess amount. The ATO has started issuing excess transfer balance (ETB)...
In just a year after announcing that they will tighten the loan requirements, Westpac announced that effective 31 July 2018, it would no longer offer property loan to SMSFs for both residential and commercial properties. Also, Westpac’s subsidiary, St. George announced that it will withdraw its SMSF loan...