During the Financial Year, the SMSF that receives a contribution is always obliged to report the contribution to the Tax Office, even if it has been rolled out or paid to a Member before the end of that year. When filling in the Annual Return form, as an SMSF Trustee, you need to ensure that […]
From 1 July 2013, the method of paying supervisory levy for the SMSF will be changed. The supervisory levy payable amount will base on the year of operation, rather than in arrears. For the SMSFs that were registered prior to 2013/2014 Financial Year, when they lodge their 2013/2014 SMSF Annual Return, the total payable supervisory […]
Difference between Age Pension and Preservation Age Many people are confused about the difference between Age Pension age and Preservation Age. They don’t know what they are and they are unaware of what they are entitled to when they reach the specified age. Put simply: Age Pension age is the age at which you can claim your […]
You can only claim a deduction for contributions that are made from concessional contributions. Contributions that are made into your SMSF can be categorised into 2 types: Who can claim tax deductions on super contributions To see what you can contribute into your SMSF, please see our contribution page.
Deloitte issued a report on the superannuation system, analysing the current situation and making some future projections. The Australian Superannuation system is not only the fourth largest in the world but also a source of pride for government and those working in the financial services industry, providing the nation with an enormous pool of investible […]