Source: SMSF News 39 The introduction of the SMSF early engagement and voluntary disclosure service, the extension of the deadline to review the LRBAs, and the new tax governance guide are just some of the topics that we have in this edition for you to
Accountants would increasingly adopt multi-advice models including the delivery of financial planning and SMSF advice as they dealt with increasing cost pressures and changing client expectations. Source: Accountants to migrate to financial planning | Money Management
Source: Diverting personal services income to an SMSF | Australian Taxation Office
The Electronic Lodgement System (ELS) is being retired. SBR is the new software format to be used by tax professionals to send reports and data to the ATO and other government agencies The aim is to: Increase productivity: less time on paperwork Low Cost: built into
The ATO, recently released guidance statement PCG 2016/5 which changes the terms for related party Limited Recourse Borrowing Arrangements (LRBAs). This Guideline sets out the ‘Safe Harbour’ terms on which SMSF trustees may structure their related party LRBAs for income tax compliance purposes, (ie loans
08 Feb 2016 By Krystine Lumanta A successful outsourcing and offshoring relationship depends greatly on the qualifications and experience of the staff processing the SMSF work. “At the end of the day, we fall back on the quality and the training [of our staff],” BPO
08 Feb 2016 By Darin Tyson-Chan The latest ATO statistics regarding the SMSF sector provide clear evidence self-managed funds are enjoying the benefits of scale. The annual report released by the regulator, “Self-Managed Superannuation Funds: A Statistical Overview 2013-14”, revealed a direct correlation between the
