Here are our 5 most read updates of the year:
– Can a SMSF hold Crypto-Currency?
– EOFY Action Checklist
– Non-Arm’s Length Expenditure Ruling
– 6 member SMSFs now possible
– Elderly parents’ superannuation benefits
Your clients will need a Director Identification Number (Director ID) if they’re a director of a company, a registered foreign company or Australian body. Find out more here.
This year’s Federal budget saw proposed measures impacting SMSFs and their members. These proposals have now been introduced to Parliament. Here’s what the Government hopes to achieve by Christmas.
Superannuation death benefits can only be paid from a SMSF to superannuation dependants. In the event a member wishes for their superannuation benefits to be paid to someone other than their superannuation dependants, their benefits must first be paid to their Estate.
A common estate planning question we receive is about the protection of elderly parents’ superannuation benefits, and specifically when one of them passes away.
This update includes;
– important Exempt Current Pension Income (ECPI) changes; and
– Changes to information sharing regarding Family Law matters.
For Trustee’s wishing to transfer commercial properties into a SMSF, the property must first satisfy the definition of Business Real Property. Find out what qualifies here.
From 1 October 2021, it will be compulsory for SMSFs to also use SuperStream for rollovers of member’s superannuation benefits either into or from a SMSF. Here’s what you need to know.
The ATO has now clarified their interpretation of amendments to Non-Arm’s Length Income (NALI) provisions where expenditure is incurred under a non-arm’s length arrangement.
