This end of financial year is a little different for many…. COVID-19 is having an overwhelming effect on individuals, businesses, and the economy. Among all this uncertainty, we are starting to see people and businesses returning to their usual way of life in a measured manner. Our focus today is on matters we can control,…
There is a lot to do and keep track of at every stage of your fund. Use these checklists to help you manage your fund and meet your SMSF obligations. SMSF Checklist For other SMSF considerations and obligations click here.
📌5 Tips 1. Keep Your Financial Data Organised 2. Immediate Asset Write-Offs 3. Know Your Tax Deductions 4. Top up your voluntary superannuation contributions 5. Look at Loss carry back tax offset Additional tips * Be mindful of cashflow – avoid spending on business assets for the sake of claiming tax deductions. In most cases, you’ll…
Checklists Click here to download Individual Checklist Click here to download Business Tax Planning Click here to download SMSF Checklist Click here to download Rental Checklist
As always, trustees of discretionary trusts are required to make and document resolutions on how trust income should be distributed to beneficiaries for the financial year by 30 June. Why? To avoid paying extra tax of up to 47% of Trust profits. So steps we need to undertake on your behalf include: Review of your…
Continue Reading Avoid Extra Tax, Make Trust Resolutions by 30 June→
Self-managed super fund (SMSF) | ASIC’s MoneySmart Some people want the control that comes with managing their own super, but taking control means being responsible for managing your retirement funds which will involve significant time and effort. SMSFs can be suitable for people with a lot of super and extensive knowledge of financial and legal matters. If…
