Tag Archives: To Know

SMSF Basics – What is a Self-Managed Super Fund (SMSF)?

A Self-Managed Super fund (SMSF) works like any other super fund, which all have trustees, but the responsibility of managing it rests solely on you as the trustee. Like all superannuation funds, SMSFs invest contributions and provide a benefit to … Continue reading

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Don’t Take the Risk – Tax Fraud and Super Offences get Prosecuted

  Almost 500 people were convicted for Tax Fraud and Superannuation Criminal Offences in the September quarter, resulting in $1.56 million in fines and penalties, according to the Australian Taxation Office (ATO). Project Wickenby resulted in two prosecutions, and there … Continue reading

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Masterclass – Gross Working Capital

  Gross Working Capital is the sum of all of a company’s current assets (those assets that can be converted to cash within a year or less). Gross Working Capital includes assets such as cash, business cheque and savings accounts, … Continue reading

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Auditors face new range of standards for Self-Managed Superannuation Funds

The Superannuation Laws Amendment (Capital Gains Tax Relief and other Efficiency Measures) Bill 2012 was passed yesterday, as well as new requirements that Self-Managed Superannuation Fund (SMSF) auditors will now be subject to a range of standards concerning their qualifications, … Continue reading

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New Laws – Directors now accountable for Superannuation Guarantee Charge (SGC) and other liabilities

Directors now accountable for Superannuation Guarantee Charge (SGC) and other liabilities Directors will now be accountable for their company’s outstanding Superannuation Guarantee Charge (SGC) under new laws.  According to the Australian Taxation Office (ATO), companies have two weeks to ensure … Continue reading

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Retirees take Possible Risks when Moving to Income and Capital Preservation Focus

Krystine Lumanta, of Investor Daily writes – Investors are overlooking possible risks when it comes to adapting investment portfolios as they approach retirement, Wingate Asset Management has claimed. The growing view that an investment approach skewed to income and capital … Continue reading

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ATO New Regulation – 2012 (No. 2) Consider Insurance Needs of Members

Recent Regulations by the ATO now require Trustees to consider whether they need to hold insurance for the Members of the fund, and to review this as part of their regular Investment Strategy Obligations. The Regulation can be found at: … Continue reading

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