Posts

Power of Attorney and Enduring Guardianship

134 | Testamentary Trust Basics

Whether a testamentary trust is a good idea or a waste of your time depends on the size of your estate, your intentions and your beneficiaries.

133 | ITAA97 NANE

On the 1 July 2018 a new approach to the non-arm’s length concept came to life. Non-arm’s length expenses (NANE).

132 | ITAA97 NANI

ITAA97 NANI is overlooked but dangerous. s295-550 ITAA97 doesn't get much limelight but is more dangerous than s109 of the SIS Act.

131 | SIS Act NANI

SIS Act non-arm's length income features in pretty much every sole purpose test court case.  

126 | Tax Talks Q & A

This  Tax Talks Q & A goes through 10 questions and comments you sent in up to April 2019.

125 | In-Specie Contributions and Payments

In-specie contributions and payments are complex since you get two transactions "for the price of one".

124 | SIS v Tax Dependants

SIS dependancy determines who gets your super. Tax dependancy determines the amount of tax payable. Here is Gordon Mackenzie of UNSW with more.

Death Benefit

123 | Death Benefit

A death benefit is any payment your super fund makes after you die. Here is Gordon Mackenzie of UNSW with more.

SMSF Succession

112 | SMSF Succession

How does SMSF succession work? Daniel Butler of DBA Lawyers in Melbourne gives you a helpful overview and shares some war stories. Here is what we learned.

Accountants' Exemption

104 | Accountants’ Exemption

The accountants' exemption is dearly missed. But there are rumours that it might come back. Here is Ron Lesh of BGL with more.

Top 10 SMSF Hot Spots July to October 2018

98 | Top 10 SMSF Hot Spots July to October 2018

The top 10 SMSF hot spots for July to October 2018 cover a wide range of topics. Here is Miranda Brownlee of SMSF Adviser.

TRIS to Retirement Phase

88 | TRIS to Retirement Phase

When moving a TRIS to retirement phase, does it matter when you notify the trustee? Meg Heffron of Heffron SMSF Solutions has the answer.

when a member dies

87 | When a Member Dies

When a member dies, there is a lot to deal with in the aftermath - including the member's SMSF. Here is Meg Heffron of Heffron SMSF Solutions with the details.

Bring-Forward Rule

86 | Bring-Forward Rule

The bring forward rule for non-concessional contributions now needs to work around the TSB. Meg Heffron of Heffron SMSF Solutions will tell you more.

how to maximise ECPI

85 | How To Maximise ECPI

To minimise tax you need to maximise your exempt current pension income (ECPI). Melanie Dunn of Accurium will tell you how.

Actuarial Certificates

84 | Actuarial Certificates

Not every SMSF needs an actuarial certificate. Whether you do or don't depends on a range of things. Here is Melanie Dunn of Accurium with the details.

Disregarded Small Fund Assets

83 | Disregarded Small Fund Assets

A fund has disregarded small fund assets when a member's TSB in retirement phase exceeds $1.6m. Melanie Dunn of Accurium will tell you why this is relevant.

ECPI

82 | Segregation

To segregate or not - that is a big question and affects ECPI. Melanie Dunn of Accurium will walk you through the details.

Class SMSF Benchmark Report June 2018

76 | Class SMSF Benchmark Report June 2018

The Class SMSF Benchmark Report 2018 looks at the effects of the super reform up to now. Here is Kevin Bungard of Class with the details.

McLowd's 2020 Vision

73 | Mclowd’s 2020 Vision

What is Mclowd's 2020 vision? Where are they heading? Here is Ashley Porter, the CEO of Mclowd with the details. 

Future SMSF Practices

70 | Future SMSF Practices

What will future SMSF practices look like? How will they grow and adapt? We asked Aaron Dunn of Smarter SMSF to give us an insight.

Digital Financial Advice

66 | Digital Financial Advice

We all need to decide where we stand regarding financial advice. One option is to engage a digital financial advice platform. Jim Hennington of ASAP has more.

SMSF Performance

63 | SMSF Performance

The Australian Productivity Commission's April 2018 draft report tried to compare ARPA funds with SMSFs. Here Kevin Bungard, the CEO of Class, with more.

60 | SMSF Adviser May 2018 Update

Miranda Brownlee writes for SMSF Adviser and covers over 20 stories a week, all about SMSF. We asked Miranda what happened in May. Here is what we learned.

The Story of Mclowd

58 | The Story of Mclowd

The story of Mclowd starts like many other successful start-ups. Mclowd was born out of an attempt to "scratch its own itch". Ashley Porter was there.

Event-Based Reporting

57 | Event-Based Reporting

Here are some comments from Kevin Bungard, CEO at Class, about the first round of event-based reporting.

56 | Acknowledgement of Trust

When do you need an acknowledgement of trust in an SMSF? Heide Robson will talk you through different scenarios re compliance with s52(2)(g) of the SIS Act.

the story of class

54 | The Story of Class

The Story of Class is not just about Class. It is also a story about the SMSF industry and us. Kevin Bungard of Class will tell you how it all started.

SMSF Update

53 | SMSF Update

The super reform is done and dusted, but some issues still raise their head. Daniel Mikhail of Partners Wealth Group will discuss those with you.

Pension Strategies Post 1 July 2017

47 | Pension Strategies Post 1 July 2017

Pension strategies post 1 July 2017 have changed. Daniel Mikhail of Partners Wealth Group will guide you through the different options.

online SMSF auditing software

45 | Online SMSF Auditing Software

Online SMSF auditing software is the way of the future. Manoj Abichandani of onlinesmsfaudit.com.au will tell you why and how.

Bank and Data Feeds

41 | How Data Feeds Work

How do data feeds actually work?  Kevin Bungard and Tom Sargent of Class will give you a unique insight.

personal insurance inside or outside of super

40 | Personal Insurance Inside or Outside of Super

Personal insurance inside or outside of Super? Mistakes can cost dearly. Daniel Mikhail of Partners Wealth Group will guide you through the intricate details.

How to sell my accounting practice

38 | How To Sell My Accounting Practice

If you want to sell your accounting practice, do you know how? Steven Fine of Growth Focus runs you through the process with valuable advice on the way.

The Great Debate

33 | The Great Debate

If you could change one thing about the Australian tax system, what would it be and how? Robert Deutsch of The Tax institute asked that question. 

December 2017 Class Benchmark Report

31 | Class SMSF Benchmark Report December 2017

The December 2017 Class SMSF Benchmark Report is a great read.  Kevin Bungard of Class will share valuable insights with you.

estate planning

28 | Estate Planning

Estate planning is complex because it has so many moving parts: trust law, super law, tax law, family law. Ben Symons of State Chambers, NSW will walk you through the jungle.

bgl

27 | The Story of BGL

How did BGL start? Where is it now? And where to from here? Ron Lesh of BGL will take you from the past to the future.

Partial Commutations Require an AFSL

25 | Partial Commutations Require an AFSL

Are we as tax advisers allowed to partially commute balances from pension back to accumulation? Here is David Moss of Merit Wealth on this issue.

TRIS to an ABP

20 | TRIS to an ABP

Can a TRIS converts to an ABP or does it need to stop and start? David Moss of Merit Wealth discusses the current status of this issue.

Sole Purpose Test

19 | Sole Purpose Test

According to the ATO the sole purpose test is the most commonly breached rule. Manoj Abichandani of Online SMSF Auditor discusses the issue.

SMSF Estate Planning

17 | SMSF Estate Planning Post July 2017

The super reform changed estate planning within the SMSF environment. Here is Chloe Ward of Intello giving you an overview.

events based reporting

14 | Events Based Reporting Turnaround

Events based reporting experienced an impressive turnaround. In this episode Ron Lesh of BGL will tell you how this came about.

Events Based Reporting

11 | SMSF Events Based Reporting

From 1 July 2018 all SMSFs in retirement phase need to report certain events to the ATO. Chloe Ward of Intello gives you an overview.

offshore SMSF work

2 | Why Not To Offshore SMSF Work

Do you offshore SMSF work or not? Chloe Ward of Intello will tell you how they turned staying in Australia into an advantage.

Articles

75 | Tax Positions in Class

Tax positions in Class Super - or any accounting software for that matter - can be confusing. So here is a short overview for Class Super.
Income Tax Payable and Provision for Income Tax

71 | Income Tax Payable and Provision for Income Tax

Your Statement of Financial Position usually shows an income tax payable and a provision for income tax. What is the difference?
Ryan Wealth v Baumgartner

55 | Ryan Wealth v Baumgartner

Ryan Wealth v Baumgartner is the latest calamity in the new practice by trustees to get the SMSF auditor to pay for dumb investment decisions.
Super is Not Part of Your Estate

49 | Super is Not Part of Your Estate

Super is not part of your estate. Here is the story of David Mandie's SMSF that set the precedent.
smsf need abn

25 | SMSF need an ABN

An SMSF needs an ABN and TFN. A corporate trustee as a special purpose company only needs an ACN. That is the answer in a nut shell but here is more.
Minimum Pension Payments

9 | Minimum Pension Payments

When you start a pension, you need to make minimum pension payments. Otherwise your fund loses its tax exempt status.
withdraw from accumulation

8 | Withdraw from Accumulation

Can you withdraw from accumulation accounts in your SMSF? If you have met a condition of release, the answer is Yes. If you haven't, the answer is a big No.