SMSF non compliance

SMSF: Paying the price for non-compliance

The ATO has issued a warning that there are various courses of action available to them when trustees of self-managed super funds (‘SMSFs’) have not complied with the super laws, including applying administrative penalties. To learn about administrative penalties that could be imposed.  A number of factors determine the amount of the administrative penalty, including:

SMSFs considering crypto

Caution advised for SMSFs considering crypto

A recent rise in unlicensed advisers offering to assist SMSF trustees to invest in cryptocurrency assets has prompted the ATO to advise caution among trustees and recommend seeking advice only from licensed financial advisers. Acting on advice from unlicensed advisers means the usual consumer protections and access to the Australian Financial Complaints Authority will not…

Got that nagging feeling you're not getting the most from your accountant?

Got that nagging feeling you’re not getting the most from your accountant?

Your accountant should be planning strategies to improve your business, tax and personal outcomes months in advance, not just doing your tax return. Even if ‘you’re not their biggest client’ your accountant should be working proactively for you. Tax savings are made through planning, not hoping. If you don’t have a handle on your tax…