Don’t Miss the Minimums

As the end of the financial year draws to a close, we must ensure that trustees draw their minimum pension. Failure to do so will cause the pension exempt income advantages to be lost for the current year but are there any other consequences? Does the pension still...

Bumper End of Year Checklist

This check list includes some items that aren’t exclusively End of Financial Year or exclusively SMSF related but might be addressed at this time for the sake of convenience. Some items constitute financial advice so require licensing or need closer analysis to...

Title Changes after extinguishing an SMSF Borrowing

A key consideration, after the repayment of a limited recourse borrowing, is the transfer of the property title to the SMSF trustees. Does it need to be done? The short answer is No, though it might be advisable. If no transfer occurs, the management of the property...

Are Deemed Contributions Concessional?

Deemed contributions generally occur when increases in fund value have not been caused by investments or insurance payments. Most commonly this occurs when an expense is paid on behalf of the fund without reimbursement though it can also occur when an asset in the...

Federal Budget

The budget was largely missing any announcements particular to our sector. On related matters, the deeming rate won’t change – relevant to social security recipients – and there has been funding allocated to implementing already announced government initiatives. Items...

Best SMSF Advice Platform

Last night, the inaugural Australian Wealth Management Awards 2024, an initiative of Momentum Media’s wealth publishing network, encompassing Investor Daily, ifa, SMSF Adviser, Money Management, and Super Review were presented. We were delighted to win the Best SMSF...