COVID-19 and Your SMSF

COVID-19 and Your smsf COVID-19 has had an impact on many SMSFs. We look at the key issues.   Early release of superannuation When a member of your fund wants to access up to $10,000 of their superannuation early under the COVID-19 measures, there are some...

The ATO’s JobKeeper Audit Targets

the ato’s jobkeeper audit targets The JobKeeper subsidy has progressed beyond the rush for eligibility and entered its second phase: compliance. Late last month, the Australian Taxation Office (ATO) released guidance highlighting where the regulator will focus...

$66.1 Billion Additional Stimulus Package: What You Need To Know

$66.1 billion Stimulus Package: What You Need To Know The Government yesterday released a second, far reaching $66.1 billion stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up...

Super guarantee Amnesty: Now is the time to get payroll right

Super guarantee Amnesty: Now is the time to get payroll right The superannuation guarantee (SG) amnesty provides employers with a one-off opportunity to “self-correct.” Now is the time to ensure that your payroll is correct and there are no hidden SG issues looming....

Alerts to protect SMSFs from fraud

Alerts to protect SMSFs from fraud A new system alerting SMSF trustees of changes made to their SMSF will roll out this month. The ATO will alert trustees by text and/or email when changes are made to bank details, electronic service address of the fund, the...

Calculating Super Guarantee: The new rule

Calculating Super Guarantee: The new rule From 1 July 2020, new rules will come into effect to ensure that an employee’s salary sacrifice contributions cannot be used to reduce the amount of superannuation guarantee (SG) paid by the employer. Under current rules, some...