SMSFs and Collectables – last opportunity to comply! SMSFs and Collectables – last opportunity to comply! From 1 July 2011, SMSF investments in collectables and personal-use assets have been subject to strict rules under regulation 13.18AA of the Superannuation Industry (Supervision) Regulations 1994 (SIS Regulations) Editor: Assets considered collectables and personal-use assets include things like […]
The ATO released latest SMSF statistics
The ATO released latest SMSF statistics The ATO has released its latest statistics on the SMSF sector. Assistant Commissioner Kasey Macfarlane said the annual Overview data shows that the sector continues to grow, with positive returns on assets and increasing fund and member numbers. In brief: In the five years to 2014/15, the number of […]
Draft effective lives for depreciating assets
Draft effective lives for depreciating assets The ATO has developed and released for comment draft lists of effective lives for the following assets: assets used in scientific medical and pharmaceutical research; assets used at waste remediation and materials recovery facilities; assets used in the professional photography services industry; and railway rolling stock manufacturing and repair […]
Lodge newly registered SMSF annual returns on time
Lodge newly registered SMSF annual returns on time The ATO has issued a reminder that the 2013 SMSF annual return for new registrants is due on 28 February 2014. To help clients to prepare for lodgment, the ATO recommends letting them know the audit report needs to be completed so that their SMSF annual return […]
Some SMSF statistics
Some SMSF statistics Some SMSF statistics as at 30 September 2013, there were over 516,000 SMSFs holding around $531 billion in assets. Although SMSFs are nearing one million SMSF members (980,000), or 8% of the 11.6 million members of Australian super funds, they account for 31% of the $1.6 trillion total super assets as at 30 […]
