From bdo.com.au: The Quarterly Update for March 2025 provides a comprehensive overview of the regulatory developments in the SMSF sector, highlighting critical insights on asset valuations, audit practices, and compliance.… read more
From bdo.com.au: SMSF annual returns have varying due dates and penalties for late lodgment, including potential administrative penalties and a change in tax rate.
The status of the SMSF on the ATO’s Super Fund Lookup can be affected, potentially impacting the fund’s ability to receive rollovers or employer contributions.… read more
From bdo.com.au: Family offices are established to manage finances, investments, and personal affairs of affluent families, with the aim of preserving wealth across generations.
They necessitate a blend of in-house and external professionals to perform a range of duties, from accounting and legal services to estate planning and administrative tasks, all underpinned by advanced technology for operational efficiency.… read more
From www.accountantsdaily.com.au: Opposition leader Peter Dutton has pledged to halve the fuel excise on petrol and diesel from 50.8 cents to 25.4 cents per litre for a year, aiming to provide immediate relief to Australians amid rising living costs.… read more
From www.fathomhq.com: Advisory firms face challenges in demonstrating the value of their services, struggling with visibility of client data and time constraints in scaling offerings.… read more
From www.accountingweb.co.uk: (UK context) Thariq Mohammed, the owner of Happy Chip fish and chip shop, faced discovery assessments and penalties of £2 million from HMRC for filing false tax returns over several years.… read more
From www.accountingweb.co.uk: (UK context) HMRC plans to introduce stricter penalties and enhanced investigation powers for dishonest tax advisers, potentially imposing fines of up to £50,000 and facilitating public disclosures of misconduct.… read more
From financialnewswire.com.au: Research from the Brighter Super 2024 Retirement Income Report reveals a widening gender gap in retirement income confidence among Australians, with women facing a median funding shortfall of $1,500 per month compared to $1,100 for men.… read more
From www.smsfadviser.com: A recent Federal Court decision highlights the importance of complying with the Corporations Act’s requirement for written director consent during company appointments.
The case demonstrated that failure to maintain updated records with ASIC and validate director appointments could lead to significant consequences, including the potential loss of a family home during insolvency proceedings.… read more
From www.smsfadviser.com: The Grattan Institute’s Orange Book 2025 proposes policies that penalise high-income earners in the Australian superannuation system, creating inequities and disincentives for responsible saving.… read more
From www.smsfadviser.com: The recent budget has allocated funds to link director IDs to Australia’s business registers, aiding the SMSF sector by ensuring director information is effectively utilized.… read more
From www.theguardian.com: Prime Minister Anthony Albanese announced that the Australian federal election will take place on May 3, framing the vote as a choice between Labor’s plans for growth and Peter Dutton’s promises of cuts.… read more
From hallandwilcox.com.au: The Albanese Government has outlined plans to ban non-compete clauses for approximately 3 million Australian workers earning below $175,000 annually, aiming to enhance job mobility, innovation, and wage growth.… read more
From futurefirm.co: Increasing prices for accounting services can be challenging, but a well-crafted price increase letter can facilitate the process.
The article provides a free template, along with writing tips focusing on the value provided to clients, using simple language, and presenting the increase with confidence.… read more
From smsmagazine.com.au: SMSF advisers and trustees are advised to avoid using overly prescriptive deeds when setting terms for superannuation funds, as these can limit flexibility in complex situations.… read more