50% rise in offshore accounting for SMSF’s

Collectables and PUA’s – yes they can be stored at a related party business real property <read more>

Excess Contributions in June can be differed under the 28 day rule to avoid 31.5%, but beware the devil in the detail:

• Free Labour & Interest free Loans – are they treated like payments made on behalf as a expense, as a contribution <read more>

Beware arm’s length dealing s109 <read more>

Precedents you can use as a guide but note our terms of use and disclaimer, BDBN, Reversionary Pensions <Contact us for a copy>

Property

• single use asset – New ATO guidelines, can you build an additional room with or when under a borrowing arrangement <read more>
• In specie distributions – good for satisfying payment to the SMSF using the SBE concessions – beware the traps <Contact us for a copy>

Paying the Trustee – for non-trustee duties – yes you can ! Can i pay myself on property renovations? <Ask us>

Residency – the checklist guide for your clients to avoid breaching the sis act <Ask us>

Valuation Guide – New Guide for SMSF’s <read more>

Reserves:

• <15% threshold> of total super liabilities;
• Consider contribution caps – when transferring from reserves to ember accounts and be mindful of the <exceptions>.

Capital losses – unsegregated assets – whole capital loss can be carried forward whereas segregated assets – capital loss cannot be carried forward but also cannot offset against current year gains! for capital gains <read more>

Related party acquisitions exemptions – <updated list>.

New maximum $500 Government handout to the low income (less than $37K) calculated as 15% of concessional contributions

How to use your SMSF to acquire ESS – Employee Share Scheme where SMSF’s are nominated as the recipient of the shares (ESS) <read more>

SMSF Audit Fees from $450 for a new fund, ongoing fees $550 ! <contact us> to find out more.

50% rise in offshore accounting for SMSF’s – in particular, notable companies are Sundaram, Odyssey, & Omega Partners, but there are many more, popular accounting systems used are Xero and Saasu using cloud technologies.

What’s in the news – Seems like everyone is talking about SMSF’s, property industry players eyeing the value in the SMSF sector as a new market of buyers, Banks placing one page Ads in the Fin Review – Loans, SMSF’s and Property, regulators releasing warnings on property the recommendation’s to SMSF’s, and last but not least last month’s draft regulations released re Auditors regulation, all this on the back of RpData, Bis Shrapnel and other research houses saying we have hit the consolidation phase in residential housing with prices noting small increases. Seems like we are going to see a lot more activity and focus and changes….it’s a good time to be working in Super!