SMSF event-based reporting: What needs to be reported, what doesn’t - Tax Accountants Burwood
Since event-based reporting started for SMSFs from 1 July 2018, the ATO says that for the larger part, SMSF trustees have mostly adjusted to the new requirements.
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The SMSF sector is growing by $23,200 every minute - Tax Accountants Burwood
The latest statistical report from APRA has been released (here’s a link to download it — https://bit.ly/2kIH9Oz), which of course mainly focuses on the APRA-regulated superannuation funds in the retail and industry sectors.
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SMSF trustees: Operating expenses you can deduct - Tax Accountants Burwood
Operating expenses that are incurred by an SMSF are mostly deductible, however there can be exceptions to the extent that these relate to the gaining of non-assessable income (such as exempt current pension income) or are capital in nature.
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Event-based reporting mistakes lead to more SMSF audits
In the year since event-based reporting (EBR) started for SMSFs (from 1 July 2018) the ATO says an unprecedented number of transfer balance cap reports have required re-reporting.
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Carrying forward concessional super contributions
The income year of 2019-20 has just ticked over, which is also the first year in which an individual is able to make additional catch-up contributions to super through the application of unused concessional (before tax) contributions.
Read moreOur Management Credentials
