Controversial Super Change Scrapped

Controversial super change scrapped — but other proposals need to be watched - Tax Accountants St Albans

At the time of writing, the new Parliament released the first batch of proposed changes to the superannuation regime, and among these was the announcement that the proposed $500,000 lifetime non-concessional cap is to be scrapped. Recall that these measures were previously announced in the Federal Budget earlier this year before the election.

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Smsfs Need To Prepare For The New Transfer Balance Cap

SMSFs need to prepare for the new transfer balance cap - Tax Accountants Sunny Bank

Legislation introducing changes to the superannuation regime were recently passed by Parliament. Among them will be a requirement for fund members to establish a transfer balance account for each retirement phase recipient. In other words, individuals receiving superannuation income stream benefits will be required to have a transfer balance account.

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Does Your Smsf Need A Valuation

Does your SMSF need a valuation? - Tax Accountants South Brisbane

The rules around the valuation of assets held under an SMSF have seen a lot of changes over the years. The requirement to consider valuing SMSF assets at market value when preparing the annual financial statements of the fund was one of the most significant and controversial of these changes.

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To Avoid Disputes With The Birth Of Every Smsf It Pays To Think About Death

To avoid disputes, with the birth of every SMSF it pays to think about death - Tax Accountants Ringwood

When commencing any self managed superannuation fund (SMSF), there is one over-riding expectation that newby trustees should come back to again and again — that their fund must meet the sole-purpose test. This is not only to maintain access to the various tax concessions available, but to avoid possible civil or even criminal penalties.

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Is The Peer To Peer Lending Investment Option Right

Is the peer-to-peer lending investment option right for your SMSF? - Tax Accountants North Ryde

One investment option that has surfaced relatively recently, and that SMSF trustees may consider as a part of their strategy to grow their fund, is investing through peer-to-peer lending.

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The Transitional Cgt Relief Measure And Your Smsf

The transitional CGT relief measure and your SMSF - Tax Accountants Norfolk Island

Transitional CGT relief is temporary relief available to all complying super funds, not just SMSFs, for certain CGT assets that would otherwise give rise to a taxable capital gain through the necessary efforts to comply with the new transfer balance cap and new conditions to be applied to transition to retirement income streams (TRIS).

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