Avoid these 4 top SMSF mistakes
Ensure you avoid these 4 common breaches. (A breach occurs when a fund fails to comply with the Superannuation law). • Loans made to related parties • More than 5% in-house assets (related party investments, with some exceptions) • Assets not held in the correct name • Documents requested by [...]
What is a SMSF and how would it benefit me?
Self-managed super funds (SMSFs) allow people to control their own super investments for their retirement. If you set one up, you’re responsible for running it in accordance with the law and reporting to the ATO on its operation. Benefits of a SMSF include: Control over your investments. More investment flexibility. [...]
How tax planning saves you time and money
Tax planning is not the same thing as doing your taxes. Planning requires a broad view of business finances over the long term. And it’s not just what you save today or this year that matters, it’s what that tax saving will be worth to you years from now as [...]
5 top tips for a low cost, no fuss SMSF audit
The key to a low cost and no fuss audit is communication and well-organised documentation. • If you are unsure of something discuss it with your auditor or SMSF accountant beforehand. • Make sure you aren’t missing anything. If you are, then track it down before it gets to the [...]
Hales Douglass clients are guaranteed best advice
Hales Douglass clients guaranteed ‘best interest’ advice regardless of FOFA’s future. FOFA (Future of Financial Advice Act) was introduced mid last year to protect consumers and require financial planners to act in the best interests of their clients, also prohibiting them from obtaining sales commissions and other forms of conflicted [...]