Over the last few years the ATO has seen instances of SMSF trustees losing their crypto asset investments. Trustees thinking of investing in crypto need to be aware of the ways that crypto can be lost, including via scams and how they can avoid them.
The Government has introduced changes to the non-arm’s length income (NALI) provisions which apply to expenditure incurred by super funds.
On 1 July 2023 when you calculate the minimum annual payment on your pension balance, the 50% reduction will not apply to the calculated minimum annual payment.
The reduced eligibility age to make a downsizer contribution from age 55 is now law, with the Treasury Laws Amendment (2022 Measures No. 2) Bill 2022 receiving royal assent on 12 December 2022.
Final reminder for directors to apply for their director identification number (director ID) by 30 November 2022. If you have a corporate trustee for your self-managed super fund (SMSF), then you’re a company director and need a director ID.
Recent legislation introduced into Parliament will increase the Commonwealth Seniors Health Card (CSHC) income test.
Once a year you receive an annual statement from your super fund. While it might be tempting to just file it away, paying close attention to the contents of your super statement can be an important exercise.
Director or corporate trustee of an SMSF? Watch the ATO’s step-by-step video on how to apply for your director ID. The deadline is 30 November 2022.
