One of the common reasons for starting an SMSF is having an access to a broader range of investments. You can invest in shares, cash & term deposits, property and cryptocurrencies through self-managed super fund. You can also hold alternative assets, such as antiques and artwork. Shares Through...
The SMSF generally pays a death benefit to a dependant or other beneficiary of the deceased when a self-managed super fund (SMSF) member dies and should be done as soon as possible after the member's death. The death benefit can be paid as a lump sum...
The Australian Taxation Office (ATO) is the regulator of Self-Managed Super Funds (SMSFs). Its primary focus is to encourage SMSF trustees to comply with super laws. ATO has different range of treatments available to deal with non-complying SMSFS on the super laws. It is indeed...
A non-resident fund is a non-complying fund. The residency of the fund should be maintained otherwise, the highest marginal tax rate of 47 per cent will be imposed to its taxable income this year and the next two income years. Taxable income in the year following...
Lending money to members of the fund and their relatives is strictly prohibited in the Superannuation laws. Providing financial assistance to members and their relatives is not allowed and Trustees must understand this. The reason is that close nature of the parties involved can mean the...
From 1 July 2018, you may be able to choose to make a downsizer contribution into your superannuation of up to $300,000 from the proceeds of selling your home provided that you are 65 years old or older and meet the eligibility requirements. The government passed a policy...