Contribution Types – Concessional vs Non-Concessional You will hear SMSFcentral and others talk about multiple types of contributions (Employer, Salary Sacrifice, Personal etc), but as far as the ATO is concerned, there are two designations that matter – Concessional and Non-Concessional. Concessional contributions are any contributions which have to be taxed at 15% within the SMSF. […]
READ MOREChanges to the Superannuation Work Test
What is the Work Test? Let’s start with some background. The Work Test, or Age Work Test, or Over 65 Work Test, as it is often called, is a rule in place for personal contributions paid into a superannuation account by a member who is over a specified age. Members under the specified age can […]
READ MORESMSFcentral’s Accountant named as a finalist at the 30 under 30 awards!
We’re so proud to say that our very own Eric Kurnadi has been selected as a finalist in the Accountants Daily 30 under 30 awards! The Accountants Daily 30 Under 30 Awards is Australia’s largest independent awards program for the rising stars in the accounting industry. The awards presents an exceptional opportunity for young accountants […]
READ MOREIs Your SMSF Investment Portfolio Diversified Enough?
The ATO have recently announced they will be contacting the trustees of approximately 17,700 SMSFs to discuss their fund’s investment strategy and whether they are actively working towards a diverse strategy. The funds within the ATO’s view are those which are invested in a single asset or asset class or have more than 90 per […]
READ MORE5 Common SMSF Potholes to Avoid
SMSFs can be a fantastic vehicle for investing and growing your retirement benefits. But, while there is a lot more freedom allowed within an SMSF, when compared to a retail fund, it’s important to always be mindful of the restrictions and regulations in place for superannuation. The following is a short list of some of […]
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