Superannuation

The Derivatives Lure Catching SMSFs

As official interest rates hover at an all-time low of 0.25%, SMSFs are being challenged to generate acceptable returns through defensive assets such as cash and term deposits.SMSF trustees are now starting to look towards investing in high-risk assets such as derivatives because they think they can outperform the market and get a quick return.Typically,…

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TaxWise Business News – September 2020

Our latest TaxWise Business newsletter is now available. Topics covered include; Changes to JobKeeper, Cash flow boost changes, Superannuation guarantee amnesty expires soon, Tax changes, Scammers and Key tax dates. PrincipleFocus TaxWise Business Newsletter - September 2020Download

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TaxWise Individual News – September 2020

Our latest TaxWise newsletter is now available. Topics covered include; JobKeeper updates, Cash flow boost changes, COVID-19 early release of Superannuation, Income Tax Returns, Scammers and Key tax dates. PrincipleFocus TaxWise Individual News - September 2020Download

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Super Guarantee Amnesty

Amidst everything that has been happening in Australia since COVID-19, the Super Guarantee Amnesty finally came into effect with The Treasury Laws Amendment (Recovering Unpaid Superannuation) Bill 2019 receiving Royal Assent.The amnesty provides employers with an opportunity to self-correct historical superannuation guarantee (SG) non-compliance, without incurring the administration component or penalties. The amnesty period applies…

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Alerts to Protect SMSF’s 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 authorised contact and members.Trustees need to notify the ATO within 28 days of key changes…

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Superannuation Fine Times

Fine Times SMSFs that don’t check their advisory team’s credentials risk being penalised, writes James Frost There is so much paperwork that SMSF members and trustees have to review, it’s understandable that they sometimes don’t get the chance to cross-check the credentials of their service providers. But a series of new developments makes it timely…

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