News
Applying for a Director Identification Number (DIN)
Recent legislation has introduced new obligations for company directors requiring them to obtain a personal director identification number (‘Director ID’). Below we highlight your new obligations and provide the appropriate information to ensure your ongoing director...
Is your SMSF ready for the End of the Financial Year (EOFY)?
With the end of the financial year (EOFY) fast approaching, now is the perfect time to make some final checks and ensure everything is in order for your Self Managed Superannuation Fund (SMSF) before 30 June. The following are some matters that you might want to know...
2021-22 Federal Budget Update – A strong Budget for SMSFs
As expected, this year’s Federal Budget has a strong emphasis on job growth and women’s security. From an SMSF perspective, there were some welcome surprises for SMSF trustees, the key measures that you should be aware of are outlined below. All measures...
ATO Email – Changes to your SMSF Account
The ATO has recently implemented a new practice of alerting authorised SMSF trustees via email and/or text message whenever changes are made within your self-managed super fund (SMSF). If you have received this email for the first time you may be asking, what does...
2020-21 Federal Budget Update – How will it effect you?
The 2020-21 Federal Budget is all about jobs, jobs and jobs. COVID-19 has resulted in the most severe global economic crisis since the Great Depression. This Budget provides an additional $98 billion of response and recovery support under the COVID-19 Response Package...
Gold Coast Update: TPB bans SAS QLD Pty Ltd for sustained and systemic SMSF Auditor Number misuse
Following an audit and subsequent referral by the Australian Taxation Office (ATO), the Tax Practitioners Board (TPB) undertook an extensive investigation resulting in the registration of Gold-Coast based tax agent Edward Mark Purnell-Webb and his business...
2020 End of Financial Year (EOFY) considerations
Yes I know, once again the end of the financial year (EOFY) has snuck up on us faster than it should and 2020 could easily be the year of all years to ask for a tax planning leave pass. Before we throw in the towel however, the team at SMSF Options have been busy...
Negative returns – looking for the positive?
Despite well formulated investment strategies and appropriate investment advice, no trustee could have foreseen the impacts of COVID-19 on financial markets globally. Whilst history suggests that a strong recovery is likely within a relatively short period after large...
COVID-19 – Providing concessions for the LRBA in my SMSF
The economic impacts of the COVID-19 crisis are causing significant financial distress for many businesses and individuals. If your SMSF has a related party loan and is impacted due to the financial effects of COVID-19, you may be able to provide your LRBA with relief...
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