Category: News
Key updates for SMSF advisers and trustees
The following is an update for the SMSF industry that covers most important facts and figures for the 2012/13 financial year: 1. Concessional contribution limit: $25,000 per member: Contribution cap $50,000 for members over the age of 50 with less than $500,000 super balance has been deferred until..Read More
SMSF Auditor Registration Starts 1 July 2013
Auditors will need to meet the following requirements to be registered as an SMSF auditor from 1 July 2013: hold a tertiary accounting qualification that includes an audit component or have successfully completed study in audit as part of a professional accounting body program; meet a fit and p..Read More
New Self-managed superannuation fund independent auditor’s report
The ATO has released the new self-managed superannuation fund independent auditor's report that should be used for the SMSF audits conducted after 01 July 2012. See more information, click here...Read More
ATO ID 2011/24 – Waiver of Disqualified Person Status for setting up a SMSF
This ATO ID considers what constitutes “serious dishonest conduct” and therefore what is sufficient for an individual who has been convicted of an offence to have that disqualified person status waived. This is relevant with respect to fund members who may be imprisoned. Section 126B(2)(a) of th..Read More
ATO ID 2011/77 – Payment of Death Benefit to Former Stepchild
The classification of a step-child has been an area of misunderstanding for some time. Effectively, this ATO ID confirms that where the legal marriage of the natural parent and the step parent has ended due to divorce, the step-child relationship also ends. This is relevant with respect to the class..Read More
SMSF Made Simple! DIY Super Made Easy!
iCare Super offers a complete service and peace of mind. We provide a premium SMSF service that represents value for money. ..Read More