Trust deeds containing clauses that cause reversionary pensions to override binding death benefit nominations are exposing SMSF professionals to legal risks and resulting in poor outcomes for the client, an industry law firm has warned.
Over the past 5 weeks, Ron demonstrated why he is so well respected and appreciated in the accounting, financial, technology and SMSF community.
The ATO has reminded auditors about some of the specific requirements that trustees must meet when winding up an SMSF and the checks that SMSF auditors need to undertake for the final audit.
Labor MPs continue to defend the proposed cap on the deductibility of accountants’ fees, as accountants, software vendors and associations alike pick up the pace with their lobbying.
As previously advised, the Australian Electoral Commission found a last minute minor hurdle with our registration application late on the Friday evening before PM Morrison called the election, so we were left high and dry.
BGL is proud to announce a new integration with the recently launched SMSF loan origination platform SuperLX. SuperLX enables BGL clients to determine their borrowing ability and to electronically complete a loan application using their fund’s financial data and information held in BGL’s CAS 360 and Simple Fund 360.
As I reflect on this election campaign, the discussions on both sides of politics, the public and private debates, the proposed changes and policies, one underlying reality has dawned on me as a major concern.
Bill Shorten has made a pitch to small business, helping them to employ younger and older workers but he has also cheesed off their trusted accountants. What is he smoking?
Small businesses remain confused about the impact of Labor’s policy on family trusts as the election looms.
Danny D’Astolto, Partner at Vantage – Tax & Business Services in Kew provided this letter to his clients to educate them on the proposed changes in relation to Trusts. Very well articulated and simple to understand. Feel free to share if you deem it to be appropriate.
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