How will a Labor victory affect your SMSF? A possible plan….
I have recently read an Australian Financial Review opinion piece from John Maroney, the CEO of the SMSF Association, Australia’s premier independent professional body representing the Self-Managed Superannuation Fund (SMSF) industry. The article details how key Labor policies, if elected, will have an impact on SMSFs. Below I have extracted important pieces from the article. […] Read More
Civil Penalties for Trustees of SMSF’s
There are generally 2 types of penalties the ATO can impose on SMSF Trustees for contraventions which have taken place: Administrative Penalties – this is generally for minor breaches of the SIS Act. The ATO will normally request the Trustees to take measures to amend or correct the breach and providing this is done in […] Read More
Elder Abuse – Can you Recognise the Signs?
The Elder Abuse Prevention Centre, based in Queensland, defines elder financial abuse (EFA) as the illegal or improper use of a person’s finances or property by another person with whom they have a relationship implying trust. This is the most common type of elder abuse, with studies in Australia indicating that up to five per […] Read More
Assets Test changes to Aged Pension
Changes to the Assets Test for Centrelink Aged Pensions from 1 January 2017 For many, entitlement to the Age Pension is not on the agenda. However as rules change, it is good to revisit the “tests” that determine one’s entitlement. It may be relevant for you, your parents or someone whom you may know. As we […] Read More