Advisers struggling to get a contribution into an SMSF ahead of 30 June should consider the use of a promissory note (PN) to avoid funds being held over until the new financial year, according to an SMSF strategist.
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While the taxpayers who incorrectly received excess determinations for non-concessional contributions have been given an extension for their election due date, some of these clients had already paid for advice to deal with the determination, says an industry law firm.
BGL is proud to announce the release of its Simple Fund 360 2019 Tax Time software to clients. The new software includes the 2019 SMSF Annual Tax Return, all the required supporting schedules and electronic lodgement through the ATO’s Practitioner Lodgement System (PLS).
BGL is concerned about the recent comments made about franking credits.
Greater numbers of accountants are partnering with financial planners to service the SMSF sector, according to new research from Investment Trends, which also found trustees rank expertise ahead of fees.
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.
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.
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