Category

Superannuation

Setting up an SMSF: What you need to know

By | SMSF, Structure, Superannuation, Tax Planning | No Comments

There are tempting tax incentives for Australians to save for their retirement via the superannuation system, with an array of choice between superannuation funds that can manage your savings for you, but also the do-it-yourself option of a self-managed superannuation fund (SMSF). Managing your own retirement savings however is a huge responsibility and one that should not be viewed lightly. How you live and how comfortable your life will be when you’re no longer earning an income will depend largely on your efforts of saving…

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Seven Essential SMSF Planning Tips for 30 June 2015

By | SMSF, Superannuation, Tax Planning | No Comments

Another financial year is coming to a close and once again we are all busy undertaking tax planning for our clients. Reviewing and planning for your SMSF is just as, if not more, important. – While conducting audits for the 2014 year, I have encountered common problems that could have been avoided with pre 30 June planning. – And unfortunately, a number of the issues could not be fixed post 30 June – resulting in breaches or adverse tax consequences. I have set out below…

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Stop - Winding up an SMSF

Winding up an SMSF – Sydney Morning Herald Article

By | In The Media, SMSF, Superannuation | No Comments

The advantages of an SMSF can be significant, but as your circumstances change an SMSF may no longer appropriate. David McKellar, Director of Allied Business Accountants, was recently interviewed by Alexandra Cain in relation to why and how SMSF’s are wound up. Her article, including comments by David, was published in the Sydney Morning Herald. http://www.smh.com.au/money/super-and-funds/selfmanaged-super-can-be-more-work-than-its-worth-20140710-zsyy1.html

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Tax Time

Year End Guide: Superannuation Contributions

By | Superannuation, Tax Planning, Taxation | No Comments

Superannuation is a highly tax effective environment, where income is taxed at a maximum tax rate of 15% and capital gains, where the asset has been held for over 12 months are only taxed at 10%. In circumstances where the fund is paying pensions to its members, both income and capital gains can be completely tax free. Further, business and certain individuals may be entitled to a tax deduction for contributions made to complying superannuation funds. As a result, superannuation is a significant tax planning…

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