Super - Page 2 of 2 - Oracle Partners Accountants & Advisors Bondi Junction, Sydney

Jan 01

ATO releases new Taxation Determination

Mast3R

0 Comment

Super

The ATO has provided further guidance regarding limited recourse borrowing arrangements (LRBAs) and when non-arm’s length income (NALI) rules apply to a related party LRBA. The Tax Office recently released a Taxation Determination (TD 2016/16) and updated its Practical Compliance Guideline (PCG 2016/5) to provide further clarification concerning the circumstances where a self-managed super fund (SMSF) […]
Jan 01

Adding children to a Super fund

Mast3R

0 Comment

Super

There are financial benefits to including children in a super fund, such as the increased pool of assets created over time that can allow for a greater diversification of assets. Parents may also choose to invite their children to join their super fund as it allows them to provide their children with a financial education on […]
Jan 01

Benefits of franking credits

Mast3R

0 Comment

Super

Dividend franking turns 30 in 2017. Despite this, many are unfamiliar with the benefits franking credits can bring, especially to SMSFs. SMSF trustees who invest in Australian shares can benefit from franking credit refunds which can offset the fund’s expenses, such as tax payable. A franking credit, also known as an imputation credit, is the amount […]
Jan 01

Federal Budget: Super shake-up

Mast3R

0 Comment

Super

This year’s Federal Budget saw a raft of changes to superannuation with introduced measures intended to improve the sustainability and integrity of Australia’s superannuation system. The following measures were announced, including: Introducing a $1.6m transfer balance cap There will be a $1.6 million superannuation transfer balance cap on the total amount of super that individuals can […]
Jan 01

Incentives for greater super flexibility

Mast3R

0 Comment

Super

The Budget has introduced a series of incentives to provide Australians with more choice and access to superannuation to help enjoy retirement. The Government has recognised the current system offers limited flexibility for modern work patterns such as those who work part-time, take time out of work or have ‘lumpy’ income in which they make no […]
Jan 01

LRBA deadline extended

Mast3R

0 Comment

Super

The ATO has extended its 30 June 2016 deadline to 31 January 2017 for SMSF trustees to review limited recourse borrowing arrangements (LRBA) for non-arm’s length income. The Tax Office issued the Practical Compliance Guide 2016/5 in April to provide guidance for SMSF trustees to ensure LRBA arrangements are on terms that are consistent with an […]