Monthly Archives: July 2023

SMSF Basics – ATO warning property schemes with loans to members to buy own property

SMSF trustees and members are warned by the ATO, to be wary of property purchase schemes that involve super and loans, targeting their funds, advising them to check if those promoting the scheme are licensed advisers. As part of its … Continue reading

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Masterclass SMSF – Lost documents – Be proactive on corrective action

An SMSF lawyer has instructed practitioners and trustees to reboot their SMSF if they have lost vital trust deeds or significant documents linked to its operations. “If there are issues with the document trail, such as [you] cannot produce all … Continue reading

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NEWS – Non‑arm’s Length Expense Rules – Draft Laws could be difficult – IFPA says

SMSFs will be forced to prove all their expenses are at market rates to avoid being saddled with non-arm’s-length expenditure (NALE) tax, an outcome that may be difficult to achieve, according to the Institute of Financial Professionals Australia (IFPA). The … Continue reading

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Pensions Centrelink – Eligibility for Age Pension Australia

Wondering how eligibility for age pension in Australia works? These are the criteria for eligibility for Age Pension according to our Government  Department, Services Australia: Age Pension age; Under the income and assets test limits; An Australian resident, normally for … Continue reading

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Basics about Super – How much do I need to retire in Australia?

It’s not hard to find out – don’t put it off. Be informed and be prepared! How much do you really need? Recent research shows that the annual value of Age Pensions paid to those entitled to maximum benefits, amounts … Continue reading

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