Intello Named Finalist For Two SMSF Industry Awards
Once again, the SMSFAdviser’s annual SMSF Awards has nominated Intello a finalist in two categories this year. Recognising excellence in SMSF Services, Intello is a finalist in the “SMSF Administrators” category for SMSF management services executed on behalf of financial services businesses and trustees across the country. Intello is also shortlisted for the “SMSF Administration […]
Another Director’s ID Deadline is Approaching: Register by November 30
Another deadline related to Director IDs is fast approaching. A Quick Re-cap: A director ID is a unique identifier that a director will apply for once and keep forever. This initiative has been introduced to prevent the use of false or fraudulent director identities. All directors of a company, corporate trust, registered Australian body, registered […]
Analysis: the 2022/2023 Federal Budget
Last night the Treasurer, Josh Frydenberg, released the Government’s 2022-23 Budget. It featured a range of proposed measures including an extension of the 50% reduction to account-based (SMSF and Superannuation) income stream payments, targeted tax relief, and social security and aged care changes. For a change, there was very little said about Superannuation, apart from […]
New SMSF Notifications Provide Welcome Clarity for Trustees & Advisers
In some good news for trustees and their advisers, the ATO is improving their SMSF notifications. Feedback from trustees and practitioners is that SMSF notifications were too vague, simply describing a ‘change’ to the fund or account. This would arise when legitimate activity – such as a lodgement – was made, sparking unnecessary concern […]
What do new Director ID Requirements mean for your SMSF?
Up to 63% of SMSFs will be impacted by new identification requirements for directors. If your SMSF has a corporate trustee, the director must go through a new registration process. Here’s what you need to know so you can be prepared, including details on the application process. Update November 2021: Applications for Director IDs are […]
What you need to know about SuperStream Changes – October 2021
As of October 1, the ATO has implemented changes to SuperStream obligations. This means that rollovers into or out of your SMSF can only be performed using SuperStream. By being prepared for this change, it will ensure your employer super contributions are paid and super monies are rolled over in a timely manner. Below we […]
SMSF News & Alerts: September 2021
Changes to Actuarial Certificate Requirement Laws have recently changed which means superannuation trustees no longer need to obtain an actuarial certificate when calculating exempt current pension income. Here’s an article with more detail on the changes to actuarial certificate requirements. SuperStream is Mandated for Rollovers as of October 1 2021 As of 1 October 2021, […]
Are You A Typical SMSF Member?
A profile of Australia’s SMSF Members – Aug 2021 Hello Trustees! Ever wondered if you’re the average SMSF Member… is your balance on par and are you older, or younger than most of your comrades? The number of SMSFs has increased by 15% in the last five years to more than 590,000 funds. And while […]
SMSF Annual Return (SAR) – Is Yours Due October 31?
Some SMSFs have their annual return (SAR) due by 31 October 2021. You’re required to lodge an SMSF Annual Return (SAR) if: You are a new self-managed super fund (SMSF) or, If you have missed previous years lodgments. It’s worth noting that October 31 falls on a Sunday this year, so you will be able to […]
How Much Does it Cost to Wind Up a SMSF?
Once a fund has been wound up, it cannot be reactivated. It’s also important to follow critical steps in this checklist and the ATO’s winding up an SMSF Form. Your SMSF wind up checklist As stated by the ATO, the following tasks are required when winding up an SMSF: complete any requirements that the trust […]