The ATO wants to ensure that, when an SMSF has a significant majority of its investments in a single asset class, the trustees have considered, as part of the investment strategy, the risks which could arise from that limited diversification.
Under the current rules, the maximum amount of “concessional” superannuation contributions that can be claimed is $25,000.00 per person per annum.
The ATO has provided further instructions for SMSF trustees and directors around how they can prepare their funds for the advent of the myGovID system early next year.
The 2019 year has been unpredictable for investors, with weaker economic growth and ongoing geopolitical tensions leading to heightened volatility on investment markets.
Keeping up-to-date with this data will brighten up anyone's day.
The Retirement Income Review questioned if consumers understand the end purpose of the retirement system and if more needs to be done to make it clearer.
There are few things in today's world as certain as this. Ask anyone how they are and the answer you're likely to get is "I'm good. Busy. How are you?"
New rules mean that insurance coverage will be cancelled on “inactive” superannuation accounts from 1 July 2019, unless the fund member informs the fund in writing that they want to keep the insurance.
Some elderly Australians are trapped asset rich, income poor. Whilst downsizing might be the smartest solution, another option is a reverse mortgage.
Workers and employers are benefiting from the burgeoning gig economy in which people work part-time or on a project basis, often for a stable of employers.