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 […]

EOFY To-Do’s for Trustees

An article from our partner, Quill Group. The end of the 2020/21 financial year is approaching – a great time to perform some financial “housekeeping”, according to your personal circumstances. For many individuals, Superannuation and the management of their SMSF is often an important consideration at this time of year. So, let’s look at some […]

Caution needed on contribution reserving strategy when managing the TSB

I was at the First Tech Roadshow last week where the topic of the Contribution Reserving Strategy stimulated some interesting discussion! Here’s a recent article on the matter from Tony Zhang at SMSF Adviser.  SMSFs thinking about implementing the unique contribution reserving strategy this financial year will need to be aware of possible unallocated contribution […]

What the Federal Budget 2021-22 Means For You, Your Family & Your Fund

[a story from our partner, Quill Group] Budget Summary The 2021-22 Federal Budget is a balancing act between a better than anticipated deficit ($106 bn), an impending election, and the need to invest in the long term. Key initiatives include: Extension of temporary full expensing and loss-carry back providing immediate deductions for business investment in […]

What COVID-19 Has Taught Us About the Offshoring Model

Facing rapid market change and regulatory conditions, Aussie financial services firms are partnering with third-party firms more than ever before. Most often, this is an economic decision to remove tedious low-value work from teams who can focus on high-yielding activities, by re-allocating the services to regions with lower pay. Meanwhile, some firms opt to enhance […]

The Top 5 Mistakes made on an SMSF: Advice from the Australian Tax Office

The ATO published a list of the most common mistakes made in the accounting process of SMSFs around the country last year. A few of the top five mistakes relate to the SMSF Annual Return (SAR) which is required to be lodged for some SMSFs next month. With recent growth of 15% in SMSF’s for […]

SMSF Auditor Independence Standards – The Tough Decisions for Accounting Firms

In preparation for a tougher clamp down on SMSF Audit Independence Standards as of July 1, many accounting firms face a predicament. Under the updated code, those firms that offer both non assurance and SMSF audit services to their SMSF clients to decide to offer one, or the other.  The independence standard also affects those […]

4 Industry Changes Financial Professionals Need to Know

A Market Update: Jan ’21 It’s already looking like 2021 is going to be another year of change and a dynamic time for our Industry. Although the pandemic seems to be relatively under control in Australia, unfortunately this is not the case for much of the World.   At this stage, restrictions upon travel and the […]

Adviser Portal Dashboard and Notifications Update 2020

Based on feedback from our users, we’ve made some adjustments to the Dashboard and Email Notifications for the Intello Adviser Portal. The new dashboard and notifications will be live from 1 July 2020. Adviser Portal Dashboard The key change we’ve made is to categorise the outstanding Tasks into two key areas: Outstanding Annual Accounts Tasks […]

Contribution and work test change for SMSF members aged 65 to 67

Recent changes to the rules around superannuation contributions including a work test change for people aged 65 and 66 have been made and come into effect from 1 July 2020.  The changes enable people aged over 65 years, but under 67 years old to make voluntary concessional and non-concessional contributions to superannuation without the need […]