A Life Well Lived Is Worth Protecting
No two lives will ever be lived the same way, but the one universal truth that applies to all of us is that life can be fragile and unpredictable. This has a profound effect on our financial planning, as we…
Mother has lost over $200k super benefits – 3 things you must know about your super!
The general rule is that superannuation is not part of your estate unless you expressly make it part of your will, right? Well, maybe not. A recent case before the courts serves as a warning to make sure that you…
SMSFs: Note that trauma insurance is not allowed after July 1, 2014
From July 1, 2014, a self-managed superannuation fund (SMSF) can only provide an insured benefit for a member for an event that is consistent with one of the below conditions of release of a member’s superannuation benefits: death terminal medical…
How to turn tax into more superannuation
Because of the way that tax is applied to superannuation, savvy employees can actually turn what would have been a tax liability into extra super by making use of a salary sacrifice arrangement. Many workers can, by agreement with their…
SMSF compliance regime for the upcoming year
This year, the Tax Office will be turning its attention to the following emerging risks within the self-managed superannuation fund (SMSF) sector. Ensure you do not partake in any of the practices below or risk being caught in the Tax…
Measures set to kick off on July 1, 2014
It is prudent that taxpayers prepare thoroughly for the changes that are certainly going ahead, and keep the proposed changes on their radar so they are not caught unaware. Legislated changes 1) Rise in concessional contributions cap For superannuation, the…
SMSF trustees take note: The new penalty regime is now in force
We reported about the changes to the penalties able to be handed down to self-managed superannuation fund (SMSF)
