SMSF

November 12, 2018

Downsizer Contributions

From 1 July 2018, Australians aged 65 years of age or older are able to make a $300,000 “downsizer contribution” into their superannuation fund, per person, from the sale proceeds of their family home. This was a 2017-18 budget measure as part of the package of reforms to reduce pressure on housing affordability in Australia […]

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September 2, 2014

Your Reporting and Administrative Obligations While Running Your Self Managed Super Fund

SELF MANAGED SUPER FUND ANNUAL RETURN All Self Managed Super Funds need to lodge an Self Managed Super Fund annual return with the ATO each year, in order to: Report income tax Report super regulatory information Report member contributions Pay the supervisory levy The lodgment and payment date for all Self Managed Super Funds that […]

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February 21, 2014

Understanding ATO Compliance and Penalties for Self Managed Super Funds

AUSTRALIAN TAXATION OFFICE COMPLIANCE APPROACH The ATO compliance approach has traditionally focused on help and education. However, the ATO are concerned about the compliance of some Self Managed Super Funds. Therefore, the AT have increased their compliance activity on high-risk funds and the focus on timely lodgement. For Self Managed Super Funds, compliance activities will […]

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December 13, 2013

Paying Benefits to Members with a Self Managed Super Fund

The payment standards contained in the super laws, the sole purpose test and the preservation rules, ensure money in your Self Managed Super Fund is paid to members only when they are legally allowed to have it. Penalties apply in circumstances where these requirements are not met. CASHING OF BENEFITS There are two forms of […]

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Contact

Suite 13, 241 Blackburn Road
Mount Waverley, Victoria, Australia

Phone: +61 3 9802 2533
Fax: +61 3 9802 0590
Email: mail@rogersonkenny.com.au
Postal Address: PO Box 323, Mount Waverley, Victoria, Australia, 3149
ABN: 29 545 604 022