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Is a SMSF the right fund for you?
For many people Self Managed Superannuation Funds (SMSFs) are a great option for building retirement savings, however, they may not be the ideal fund for all. The following will showcase some important differences between SMSFs and other types of funds. Differences include management, costs, investment flexibility, insurance, and more. This information will help you make a more informed decision about your super.
Discipline Policy – A roadmap to avoid dismissal faux pas
Recent decisions of the Fair Work Commission (FWC) have illustrated how important it is for employers to follow sound practices when taking disciplinary action. Further, if employers have a policy in place, be that in an Award, an Enterprise Agreement or an employer policy, they should follow it.
Push for Innovation in Queensland Continues as Ignite Ideas Fund Opens for Round 6
The Advance Queensland initiative aims to drive innovation, build on Queensland’s natural advantages, and invest in a stronger Queensland economy. An ongoing funding initiative, Ignite Ideas Fund, supports start-ups and small to medium enterprises in commercialising innovative products, processes or services that have reached the minimum viable product stage and have market potential.
Amnesty for businesses with unpaid super re-introduced
The Government has recently re-introduced legislation to establish and extend its proposed one-off amnesty to enable employers to self-correct historical underpayments of Super Guarantee (SG).
FBT and Ride Sharing Travel
While the Australian Taxation Office were treating Ride Sharing Vehicles such as Uber as a taxi for GST purposes, the ride sharing vehicles missed out on a useful Fringe Benefits Tax (FBT) exemption for home to work travel which was only provided for registered Taxis.
Expansion of Taxable Payments Reporting System to Road Freight, IT and Security, Investigation and Surveillance Services
Effective from 1 July 2019, Taxable Payments Reporting obligations apply to businesses providing Road Freight, IT and Security, Investigation and Surveillance services, with the first Taxable Payments Report due on 28th August 2020.
Remote area tax concessions due for overhaul: Productivity Commission
Mazars strengthen its indirect tax offering
Mazars in Australia announces the appointment of Indirect Tax Specialist, Stephen Baxter, strengthening its indirect tax offering.
How does your superannuation diversification strategy stack up?
The Australian Taxation Office recently announced that they would be writing to trustees of self managed superannuation funds that they believe could have an investment strategy that does not meet the diversification requirements under regulation 4.09 of the Superannuation Industry (Supervision) Act (SISA).
It is expected that the trustees of approximately 18,000 SMSFs will receive this letter.
It is expected that the trustees of approximately 18,000 SMSFs will receive this letter.
5 Steps to improve business outcomes
Business improvement is a mindset, an overlay on all our activities and many of us need to schedule time to ensure the process gets due attention.