SMSF End of Year Planning Guide – 2022

As the Financial Year is drawing quickly to a close, the team at Intello thought you may appreciate a checklist of items that need to be checked off by July 1. If you have any questions, contact the Support Team: admin@intello.com.au. 1. Reduced Pension Drawdown Acknowledging that members may have seen their account balances reduce as […]

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 […]

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, […]

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 […]

Life Insurance – What Structure Works for Your Family?

[This article is from our partners, Quill Group] Welcome to the new financial year!  Over the past six to twelve months we’ve had a number of people enquire about life insurance and how to optimally structure it for their family.  It should come as no surprise that the best way to structure it will depend […]

What Auditors Want – Hear it Directly from an Auditor

Every year we get asked by advisers why our auditors ask for so much documentation relating to investment decisions or certain transactions within SMSF’s.   As we prepare to enter a new financial year, we thought that it would be timely to understand some of the main issues our auditors look for when reviewing SMSF […]

2020/2021 EOFY Considerations for You & Your Clients

As another financial year draws to a close, it’s a good time for you and your clients to perform a little “financial housekeeping”. Here are a few important considerations that may prompt your clients, depending on their personal circumstances. Naturally, Superannuation is an important consideration at this time of year for many individuals. So, let’s […]