High-income-earning SMSF trustees with multiple employers will be able to apply from mid-October to gain exemptions from super guarantee contributions, according to the ATO.
Interest in setting up an SMSF among those in APRA-regulated super funds is on the increase, while the average balance and age of new SMSF trustees have declined, according to Investment Trends data.
Investors are faced with a significant and growing challenge. Stretched government balance sheets and an ageing population will likely place a growing emphasis on retirees to "self-fund" their retirement.
Shane Oliver - Investors should expect more sharemarket volatility over the next year as the trade war between the US and China ratchets up, according to AMP Capital.
The government’s further restrictions to non-arm’s length income and LRBAs have passed Parliament, meaning SMSF trustees approaching retirement with an outstanding loan on a property will need to consider their options when planning contribution strategies for the 2020 financial year.
Later this month around 630,000 Australians currently qualifying for a partial age pension will receive a welcome fortnightly payments boost.
Authorisation failures and software set-up issues are among some of the top mistakes accountants and their business clients are making with the new Single Touch Payroll regime, with one in 10 failing their first submission.
The proposed extension of the director penalty regime to GST liabilities could spell the end of the corporate veil for small to medium enterprise directors, says an insolvency specialist.
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ATO Commissioner Chris Jordan believes the agency’s local business visits are helping to change community behaviour, while reassuring small businesses that their tax performance fares well on an international scale.