There are number of changes in the May 2016 Budget affecting superannuation:
The Division 293 contributions
Latest news from The SMSF Accountant
SMSF residency conditions
Some people have found their SMSF to be non-complying because they have taken an extended
New SMSF members are getting younger
According to the ATO website, as at 30 June 2015, the average and median age
Eligibility for government Super Co-Contribution
To assist eligible individuals save for their retirement, the government will match personal (after-tax) superannuation
About the Low Income Super Contribution (LISC)
The government also provides a low income super contribution of up to $500 annually for
Excess Concessional Contribution charge explained
An excess concessional contribution (ECC) charge is applied to the additional income tax liability arising
Exceeding contribution caps – how is it taxed?
Should an individual exceed their concessional contribution cap, the excess contributions are included in their
Class software for SMSF administration and online client access
The SMSF Accountant uses specialised software to assist with SMSF administration and accounting. This software is
SuperStream and SMSFs explained
What is SuperStream?
SuperStream is a government reform aimed at improving efficiency of the superannuation system.
Under
2015/2016 Contribution Limits
For the 2016 financial year, commencing 1 July 2015, the concessional contribution cap (limit per
2015/2016 Super Guarantee
The Super Guarantee (SG) percentage for the 2016 financial year remains the same at 9.5%
Subject
Deeming rules changes and rate changes effective 1 January 2015 and 1 March 2015
As of 1 January 2015, the normal deeming rules were extended to superannuation account based
What sets The SMSF Accountant apart
The SMSF Accountant is a CPA Accounting Firm that provides a professional self managed superannuation fund (“SMSF”) administration and compliance service.
Our staff have over 10 years of experience in the superannuation and accounting industry and provide a quality professional service at a fraction of the cost of other providers. This is because we do not believe in charging you based on the value of your fund. Our fees are based on a “for service” model and hence will be determined on the amount of time spent providing the services requested. For instance, with a similar investment structure, we may end up charging the same amount for a $200,000 fund as a $2,000,000 fund. We are not financial planners and do not provide investment advice. We are highly experienced in the area of superannuation and can provide detailed technical advice in all areas of superannuation and tax.
Audit and actuarial services are provided by quality third-party providers at very reasonable rates.
If you desire a straight forward administration service, with high quality technical superannuation and tax advice thrown in as a bonus, please contact us for a discussion about your requirements and we will provide you with a quote on the spot.
We also provide other ancillary services in relation to the administration of SMSFs.
