The following links are to the latest state and federal government plans, schemes, programs, and initiatives to help businesses and individuals manage the impact of yet more COVID-19 restrictions.
The ATO will only recognise limited reasons offered by trustees as an acceptable excuse for not paying a death benefit within the standard timeframe.
The use of various entities to jointly qualify for the “sophisticated investor” status will need to navigate various legal hurdles, especially around control for structures such as SMSFs and trusts, according to a law firm.
The ATO will not take compliance action against funds that have not reported a TBA event after the commencement of a new pension in the interim.
The uptake of six-member SMSFs is primarily being driven by trustees over the age of 80 who want their adult children to take over the management of the fund.
With COVID continuing to place financial stress on businesses and individuals, there has been an uptick in SMSF members illegally accessing money from their funds, an SMSF auditor warns.
The following links are to the latest state and federal government plans, schemes, programs, and initiatives to help businesses and individuals manage the impact of yet more COVID-19 restrictions.
The growth trajectory of more Millennial SMSFs is set to continue in the years to come, according to the chief executive of Smarter SMSF.
