Excess Contributions over $25,000 and $50,000 – being made to your super above the tax office set limits (caps). Sometimes you may work for more than one employer during a year or may work for two employers at the same time which is common for doctors and
Read more →Her are some of the reasons why you should contact us: Our Auditors comply with: We have over 20 years of Audit experience and 13 years of specializing in SMSF Audit. Accumulated a large body of knowledge on Super Advised on or Audited thousands (000’s) of SMSF
Read more →Again the SIS laws explain who should be an auditor: they are: A CPA, CA, or SPAA Auditor general of the commonwealth Fellow or member of the Association of Taxation And Management Accountants Fellow of the National Tax And Accountants Association Ltd A member of the National
Read more →Because it’s a breach of the SIS law’s if you don’t, it’s as simple as that I’m afraid. And remember if you breach the laws’s penalties apply, up to as much as 46.5% almost half of the value of your fund depending on the severity of your
Read more →1. THINGS YOU CAN’T DO – <Click here>, where you do something wrong and then see the consequences below. 2. CONSEQUENCES OF DOING SOMETHING WRONG If you do something wrong and you are unaware of it, either your accountant in preparing the financial report and income tax returns
Read more →A non exhaustive list of records is: FINANCIAL AND STATUTORY REPORTS/RETURNS Income Tax Returns – preferably prepared by Accountant Financial Statements – in the prescribed format (including but not limited to assets reported at market value) Investment Strategy – prepared by you with assistance from your Accountant/Adviser/administrator Trustee Minutes –
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