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12 month Superannuation Guarantee Amnesty in force from 24 May 2018 to 23 May 2019

06 Jun
superannuation guarantee amnesty information

INFORMATION ABOUT THE SUPERANNUATION GUARANTEE AMNESTY.  A 12 month Superannuation Guarantee Amnesty is currently in force and will continue to run until 23 May 2019. Please note the legislation is currently before parliament and is yet to receive Royal Assent. What is the Superannuation Guarantee Amnesty? The amnesty provides concessions for employers to come forward […]

Can you claim travel to your investment property as a tax deduction?

25 May
investment property tax deductions travel expenses

TRAVEL EXPENSES AND PROPERTY INVESTMENT TAX DEDUCTIONS. From 1 July 2017, property owners cannot deduct an outgoing for travel related expenditure to the extent that it relates to residential property/premises. Therefore airfares, accommodation and motor vehicle expenses incurred to travel to a residential rental property for inspection and/or maintenance purposes will no longer be tax […]

New reporting obligations for self-managed super funds

04 May
self managed super funds information

SELF MANAGED SUPER FUNDS AND INFORMATION AND ASSISTANCE. Some self-managed superannuation funds (SMSF’s) will be subject to new reporting obligations imposed by the ATO.  These new reporting obligations, TBAR (transfer balance account reports) will come into force from 30 June 2018, and will be separate and additional to the SMSF annual return that is lodged […]

Downsizer super contributions

11 Apr
downsizer super contributions

INFORMATION ABOUT DOWNSIZER SUPERANNUATION CONTRIBUTIONS. The commencement date for the ability to make a downsizer contribution to top up your superannuation is fast approaching. If you are over 65 and are selling your home then, subject to meeting other criteria, a contribution into superannuation up to $300,000 per individual is available. A couple could therefore […]

Small Business Superannuation Clearing House Changes

23 Jan
small business superannuation information sbsch changes 2018

SMALL BUSINESS SUPERANNUATION INFORMATION. Further to our recent communication regarding the upcoming changes to the Small Business Superannuation Clearing House (SBSCH), the ATO have now advised dates. On 26 February 2018 the SBSCH will only be available through the ATO’s online services. It will be the same service, just with a new look. The  SBSCH will be unavailable […]

Significant change to the ATO Small Business Superannuation Clearing House coming next month

10 Jan
small business superannuation information sbsch changes 2018

SMALL BUSINESS SUPERANNUATION CLEARING HOUSE (SBSCH) INFORMATION – A FREE SERVICE. The Small Business Superannuation Clearing House (SBSCH) is a free service that can be used by businesses with 19 or fewer employees, or have an annual aggregated turnover of less than $10 million. A business’ Super Guarantee (SG) contributions can be made as a single electronic payment […]

Changes to personal superannuation contributions

20 Oct
superannuation advisors noosa

PERSONAL SUPERANNUATION ADVISORS NOOSA QUEENLAND. From 1 July 2017 all individuals under the age of 75 are able to claim an income tax deduction for personal superannuation contributions made to a complying superannuation fund. Previously only individuals who derived less than 10 percent of their income from employment sources could claim this deduction.  Employees that […]

Sell your home and use some proceeds to contribute to super… but BEWARE of potential negative implications!

05 Oct
non-concessional super contributions

NOOSA SUPERANNUATION ADVISORS SUNSHINE COAST. From 1 July 2018 a person aged 65 or over can make a non-concessional contribution into their superannuation fund of up to $300,000 from the proceeds of selling their principal place of residence. To be eligible for the proposal, you must have owned the property for at least 10 years […]

Self Management Super Fund (SMSF) Deed Update

30 May
self managed super funds information

SELF MANAGED SUPERANNUATION FUND (SMSF) INFORMATION. There have been significant changes to the legislation relating to superannuation in recent years with many of these changes effective from 1 July 2017. It is prudent to have an up to date trust deed to ensure your SMSF can take advantage and/or be compliant with all of the […]

Amendments to proposed superannuation budget measures

30 Sep

Amendments to proposed superannuation budget measures Last week the Government announced changes to the superannuation measures announced in the 2016-17 Budget. The main change being the measure proposing a $500,000 lifetime cap for non-concessional superannuation contributions will be replaced with a measure to instead reduce the existing annual cap of $180,000 (for 2015/16 and 2016/17) […]