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 […]

SMSF investments in Bitcoin and other cryptocurrencies

15 Dec
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CRYPTOCURRENCY & BITCOIN ADVICE QUEENSLAND With the surge of Bitcoin being repeatedly in the headlines recently many investors, including SMSF Trustees, are considering investing in Bitcoin and other cryptocurrencies. So, can an SMSF invest in cryptocurrencies?  The brief answer is yes.  However, please read on! As in all things new to do with your SMSF […]

Small business tax concessions

24 Nov
small business accounting services noosa

SMALL BUSINESS ACCOUNTING SERVICES NOOSA.  There have been recent changes to the definition of a small business entity. From 1 July 2016 a small business entity is a sole trader, partnership, company or trust that carries on a business (for at least part of the financial year) and has aggregated annual turnover less than $10 […]

Recovery of HELP debts from non-residents living overseas

10 Nov
help higher loan repayment program advice

THE AUSTRALIAN HIGHER EDUCATION LOAN PROGRAM (HELP). From 1 July 2017 the Australian Government has introduced new repayment obligations for Australians living overseas who have an outstanding Higher Education Loan Program (HELP) debt. This will bring the repayment obligations in line with those with HELP debts living in Australia.   Until now, people with a HELP […]

Changes to personal superannuation contributions

20 Oct
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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 […]