The 2019 SMSF Annual Return (SAR) sees a few changes impacted by legislative reforms, along with the ability to capture further information for the Regulator about various fund investments. In this blog post, we explore what these changes are, the reasons behind them and what you need to know. Part A Qualification The biggest…
The Australian Taxation Office (ATO) has provided valuation guidelines for SMSFs to comply with since the introduction of the market valuation requirements in SIS Reg. 8.02B from the 2012-13 financial year. When trustees follow the guidance provided within the ATO framework for market valuations, the Regulator will generally accept the valuation provided. However, they may…
With a Coalition Government returning to office, the grey clouds that hung over the catch-up unused concessional contribution legislation has now been lifted. With this measure having started from 1 July 2018, the prospective nature of these laws has meant that the 2019-20 financial year will be the first time where a member will be…
A common question we get asked is how to deal with contributions that have mistakenly resulted in a client exceeding their contribution cap. The changes to the contribution rules from 1 July 2017, both in terms of contribution caps, but also the introduction of a total superannuation balance concept have highlighted the importance of getting…
