Accountants in Newcastle – Bottrell Business Consultants Looking for new Accountants in Newcastle? Accountants in Newcastle YOUR BUSINESS SUCCESS IS OUR AIM Bottrell Business Consultants – Your Hunter Valley Business Advisory and Accountancy Firm Bottrell Business Consultants are dedicated to the success of local Hunter Valley businesses have specialised accountants in Newcastle. Firmly cemented as the Hunter’s […]
Registering a SMSF for an ABN
By Bottrell Group on September 2, 2015 in Australian Tax Office Updates, Interesting Articles, The Bottrell Office
Registering an SMSF for an ABN Gavin: The ATO has provided the following advice regarding registering a SMSF for an ABN. The guidance is probably most relevant where a person aged over 65, who is not working, wishes to set up a new SMSF and roll over into that SMSF an amount from another fund. If […]
ASIC warning on buying property through an SMSF
ASIC warning on buying property through an SMSF ASIC is aware that there has been a sharp rise in promoters recommending investors either set up or use and existing SMSF to invest in property. S.911A of the Corporations Act 2001 (Corporations Act) requires any person carrying on financial services business in Australia to hold an […]
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 […]
Reprieve for limited recourse borrowing arrangments
Reprieve for limited recourse borrowing arrangments The ATO has become aware of a number of issues regarding the application of the in-house asset exemption provided by S.71(8) of the SIS Act to an investment in a related trust held by an SMSF as a required part of a limited recourse borrowing arrangement (LRBA). The in […]
Mixing Property and Your Self-Managed Super
SMSF Property Rules You can only buy property through your SMSF if you comply with the rules. The property: Must meet the ‘sole purpose test’ of solely providing retirement benefits to fund members Must not be acquired from a related party of a member Must not be lived in by a fund member or any […]
Changes to income tax treatment for instalments warrants
Changes to income tax treatment for instalments warrants The Government has announced an extension to the proposed income tax look-through treatment to cover instalment warrants and receipts over direct and indirect interests in listed securities, as well as unlisted securities in widely held entities and bundles of these assets. Assistant Treasurer and Minister for Financial […]
Trauma insurance inside SMSF
Trauma insurance inside SMSF Trauma insurance inside SMSF is no longer available following new legislation that became effective on July 1 of 2014. Other forms of insurance such as Life Cover, Any Occupation TPD and Income Protection are still available through superannuation. Every working Australian has a one in three chance of becoming disabled for more […]
