If you’re making contributions to your superannuation, it’s important to be aware of the contribution caps. The Australian Taxation Office (ATO) has recently updated the way it displays information about the contribution caps, making it easier for users to see whether they’re at risk of paying unnecessary tax. What Are the Contribution Caps? The contribution
Cryptocurrency isn’t just a buzzword anymore; it’s becoming a legitimate investment option. Here in Australia, SMSF trustees are seeing the potential of this high-growth, high-risk asset class. But if you’re managing your own retirement fund, it’s crucial to understand both the opportunities and the hurdles.
Imagine owning a piece of Australian real estate through your own Self-Managed Super Fund (SMSF). It’s a powerful strategy many savvy investors consider, but it requires the right tools. This is where Limited Recourse Borrowing Arrangements (LRBAs) come in. Whether you’re new to SMSFs or looking to expand your investment portfolio, understanding how LRBAs work
Self-Managed Super Funds (SMSFs) make up over one-quarter of Australia’s total superannuation assets. This means that thousands of Australians are taking control of their retirement savings and, with it, the responsibility for tax management. One of the critical tax considerations for SMSFs is the calculation of Exempt Current Pension Income (ECPI), which can offer substantial
As an SMSF (Self-Managed Superannuation Fund) member, you’ve probably heard whispers about Division 296 Tax, especially if your super balance exceeds $3 million. While it might sound like financial jargon that doesn’t apply to you, understanding Division 296 is crucial if you want to protect your wealth, avoid hefty tax penalties, and ensure your super
If you’re running a Self-Managed Super Fund (SMSF), there are many rules and regulations that you need to stay on top of to ensure compliance. One such regulation involves the SMSF actuarial certificate – a critical document for SMSF trustees, particularly those managing pension accounts.
Self-Managed Superannuation Funds (SMSFs) are a fantastic way for individuals to take charge of their retirement savings. However, they come with their own set of challenges, from compliance issues to strategic financial planning. At Wardle Partners Accountants & Advisors, with over 40 years of experience on the Sunshine Coast, we understand these challenges intimately. Here’s
What is SMSF? Introduction to SMSF A Self-Managed Super Fund (SMSF) is a type of superannuation fund in Australia where the members are also the trustees. This means that the members run it to provide future retirement benefits and are responsible for complying with the super and tax laws. Benefits of Managing Your Own Super Fund Managing
Understanding superannuation under 18 (at a young age) is not just about preparing for retirement, it’s about building a strong financial foundation for life. It empowers every member to make informed decisions, secure their future, and navigate various financial challenges with confidence. The knowledge gained about superannuation under 18 is an investment in their financial
Managing a Self-Managed Super Fund (SMSF) offers the potential for personalised retirement planning but also demands meticulous attention to compliance and performance. Professional expertise in various key areas can make this process more effective and secure. This blog post delves into 16 key areas where the guidance of accounting professionals is instrumental for successful SMSF