The Federal Government appears to have made good on their previous election commitment to increase the number of members to a maximum of 6 within a SMSF. We have seen Treasury Laws Amendment (Self Managed Superannuation Funds) Bill 2020 introduced into the House of Representatives and moved swiftly in the Senate where it is more…
The Federal Government has announced revised a revised start date of 1 July 2021, deferring the commencement on two proposed actuarial red tape measures that were announced in last year’s Federal Budget. This revision are a result of the Government’s re-prioritisation of resources and the shortened parliamentary sitting period in 2020 due to the COVID-19…
We have recently updated our existing COVID-19 rental relief documents to now incorporate the mandatory Code of Conduct for commercial tenancies (“the Code”). This order form also includes access to a Google Sheet that helps you to calculate how the various principles in the Code apply in revising terms between the landlord and tenant. You…
We have seen swift action by the Australian Taxation Office (ATO) to support the SMSF industry across a range of areas that have been impacted by the coronavirus pandemic. Through a rational and reasoned process, the Commissioner in many circumstances won’t apply compliance resources to potential compliance breaches in areas such as rental relief being…
The Federal Government has announced a Code of Conduct (“the Code”) to impose a set of good faith leasing principles to apply to commercial tenancies only (e.g retail, office and industrial properties). In this post, we explore and summarise the details of the Code and its impacts on landlords and tenants of commercial premises, importantly…
