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Hot Issues
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Be alert for phoenix activity, businesses told
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Equifax signs data agreement with ATO
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E-invoicing will reduce emissions, says PwC
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State and Federal Disaster support --- May 2022
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Largest cities in the world 1500 to 2100
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Last chance to claim the loss carry-back
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Changes to recovery loan scheme for small and medium enterprises
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About the cash flow forecasting template
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Federal budget 2022: Winners and Losers
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ATO puts 50,000 directors on notice.
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FBT Reminder – Odometer Reading
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Data matching program: government payments
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Budget: Big wins for SMEs
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Small businesses show sign of omicron rebound
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Federal Budget 2022 - Overview
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Federal Budget 2022 and YOU - Part 1
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Federal Budget 2022 and YOU - Part 2
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Budget at a Glance - Video
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Superannuation Guarantee (SG) increases
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Undisclosed income risks hefty asset betterment assessments
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How stress and burnout are different, and why the difference is important
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Accountants ‘have important role to play’ in digital transformation
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ATO launches campaign to target tax withholding on overseas royalties
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ATO releases new draft guidance products impacting private trusts
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GDP by country since 1800
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ATO releases new guidelines to combat identity theft.
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Extension in minimum drawdown rates
Article archive
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Quarter 1 January - March 2022
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Quarter 4 October - December 2021
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Quarter 3 July - September 2021
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Quarter 2 April - June 2021
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Quarter 1 January - March 2021
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Quarter 4 October - December 2020
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Quarter 3 July - September 2020
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Quarter 2 April - June 2020
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Quarter 1 January - March 2020
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Quarter 4 October - December 2019
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Quarter 3 July - September 2019
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Quarter 2 April - June 2019
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Quarter 1 January - March 2019
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Quarter 4 October - December 2018
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Quarter 3 July - September 2018
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Quarter 2 April - June 2018
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Quarter 1 January - March 2018
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Quarter 4 October - December 2017
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Quarter 3 July - September 2017
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Quarter 2 April - June 2017
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Quarter 1 January - March 2017
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Quarter 4 October - December 2016
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Quarter 3 July - September 2016
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Quarter 2 April - June 2016
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Quarter 1 January - March 2016
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Quarter 4 October - December 2015
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Quarter 3 July - September 2015
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Quarter 2 April - June 2015
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Quarter 1 January - March 2015
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Quarter 4 October - December 2014
Quarter 2 of, 2015 archive
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SMSFs may be missing out on allowable deductions
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Change to Early Access Rules
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Capital Gains Tax – which year?
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Checklist for Employers Year-end
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Year-end Tax Planning – Small Business
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Year-end Tax Planning – Trusts
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Reminders and Tax Strategies for SMSFs pre-year end
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Year-end Tax Planning – Individuals
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Tips and traps for acquiring SMSF assets from related parties
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Overtime Payments May Eliminate Claims for Unfair Dismissal
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ACCC issues scam warning
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SME Dispute Resolution
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Land Tax – Victoria
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R&D incentives at risk
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ATO adds ‘hot issue’ to its SMSF target list
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Additional Super Contributions Not Appropriate for all
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Issues arising from an underpaid pension
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Salary and Superannuation after the death of an employee
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IPA calls for zero pc tax rate
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Australian Government - Budget 2015
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Budget 2015 - some professional opinions
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Looming end to SMSF Borrowings?
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ATO warns SMSFs on franking credits scheme
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Lump Sum Payments - Employer Reporting
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Small business tax cuts 'not enough', says IPA
Reminders and Tax Strategies for SMSFs pre-year end

 

A very brief and simplistic checklist for SMSF trustees to undertake well before 30 June 2015

             

  1. A member aged 49 or over can contribute up to $35,000 of concessional contributions (otherwise $25,000)
  2. Ensure sufficient days are allowed for clearance through the bank of contributions 
  3. Is it possible to predict self-employed persons income for the year and maximise the contributions to reduce assessable income?
  4. If excess contributions have been made in previous years, ensure that you don’t contribute again in breach of this.
  5. If you make a contribution and intend to start a pension, ensure that the notice of intent to claim a tax deduction is signed before commencement of the income stream
  6. If already in pension phase, have you drawn the minimum pension to retain the exempt status?
  7. Are you aware that not taking the minimum pension means that you have ceased taking the pension and therefore any pre 1 January 2015 pensions will be subject to the new deeming rules for age pension purposes?
  8. Administrative matters such as the existence or appropriateness of binding death benefit nominations, an update of investment strategy, an update to insurance requirements and review whether the deed is too old.
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