SMSF Property Valuations: Why Obtaining An Accurate Market Value Is A Yearly Requirement
by Luke Quinnell Self-Managed Superannuation Funds (SMSFs) are subject to strict compliance obligations. For trustees who hold property within their SMSF, one of the most important—and often misunderstood—responsibilities is ensuring the property is reported at its market value every financial year. While many in the industry still refer to an outdated “three-year valuation rule,” property […]
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Fair Work Ombudsman Surprise Inspections: Are Your Employer Records Compliant?
The Fair Work Ombudsman (FWO) has been doing spot checks on small businesses across six cities to see if employers are keeping proper records. If you have staff, now is a good time to make sure everything is in order. Around 50 businesses have been visited by the FWO in locations such as Sydney, Melbourne, […]
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Proposed Superannuation Changes: What You Need to Know
by Luke Quinnell Since the election, the government’s proposed changes to superannuation have received heavy coverage in the mainstream media, with many commentators voicing concern. While most people agree that imposing extra tax on super balances over $3 million is reasonable, there are three highly controversial elements: Tax on Unrealised Gains: This means being taxed […]
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