Don’t Get Caught Out By This Unfortunate Tax Anomaly!

Tax-Anomoly

THERE IS A VERY poorly thought out anomaly in our tax system.

It affects families (in the main), retirees (call it a death tax) and other taxpayers alike — especially the NOT self-employed. [Read more…]

Is This Good or Bad Debt?

good-bad-debt

CAPITAL GROWTH and the type of gearing heavily impact the overall profitability of your property purchases. And so this article will explain how they can significantly affect your bottom line. [Read more…]

How to Rectify Your Non-Complying SMSF

SMSF-3

LET’S REFRESH: In Part 1 we looked at areas of non-compliance; and then moved onto the potentially draconian tax consequences in Part 2.

If you have a non-complying SMSF, this final instalment will give you some direction (and hope) as to the action you can take.

If you have admitted that you are non-compliant to the ATO, the following considerations will determine your outcome. [Read more…]

The Very Serious Taxation Consequences of Having a Non-Complying SMSF

SMSF-2

IN PART 1, you discovered the main breaches that lead to non-compliance. This article outlines the very ugly tax consequences of being labelled non-compliant by the ATO.

Taxation Penalties

SMSFs are subject to income tax but receive concessional treatment — provided they are complying funds.

A complying SMSF’s assessable income is generally taxed at a rate of 15%. BUT for a non-complying fund the rate is 45%. [Read more…]

Does Your Self Managed Superannuation Fund (SMSF) Comply?

SMSF

IF YOU HAVE made a mistake with your SMSF, there is no point burying your head in the sand hoping it will go away!

There could be serious taxation consequences if you do have a non-complying SMSF.

The following series of articles looks at how you can manage SMSF problems … so that you can end up in great financial shape, focused and ready to invest appropriately over and over again. [Read more…]