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 MOREWe won! Millinda Cobban picks up an award at the Women in Finance awards.
We are over the moon to announce that our Client Manager, Millinda Cobban WON at The Women in Finance Awards on August 1. The 2019 winners were announced to a sold-out ballroom at The Star in Sydney on Thursday evening, in a gala dinner designed for celebration and cross-industry networking. The program champions women in […]
READ MORESMSFcentral named as finalists at the 2019 Women in Finance Awards
We’re very proud to say that our very own Millinda Cobban has been selected as a finalist at the 2019 Women in Finance Awards. The Women in Finance Awards are Australia’s largest national awards program dedicated to women in financial services. Now in its third year, it recognises the outstanding women shaping and influencing the […]
READ MORENew Bill Impacts Insurance within Retail Super
There is a fairly big change coming to insurance within retail super and, although it doesn’t impact SMSFs, it could potentially impact SMSF members, particularly those who have retained a retail super fund purely for the benefit of the insurance held within it. This change is known as Treasury Laws Amendment (Protecting Your Superannuation Package) […]
READ MOREBill passes both houses to correct Reversionary TRIS issue
A technical issue which impacts Reversionary Transition to Retirement Income Streams (TRISs) is being corrected with a bill which has now passed both houses of parliament. The bill, Treasury Laws Amendment (2018 Measures No.4) Bill 2018, contained a solution to ensure that TRISs can be paid to a reversionary beneficiary, regardless of whether they have […]
READ MOREA New Adviser Dashboard is Coming!
We are very excited to announce that a new Adviser Dashboard will be available in 2019, via the Class Super system. SMSFcentral provided input to Class and completed testing of this dashboard, to ensure the features included really capture what our advisers want to see and do, and we are very happy with the end […]
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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