The SMSF Trustee Empowerment Day in Melbourne is on 7 September. The event aims to ‘provide individuals running their own super fund with all of the latest market developments and information purely through an SMSF prism'. bit.ly/3ql7Haa

The #ATO continues its focus on compliance in the #SMSF sector, with 41 SMSF auditors referred to ASIC for breaches in the 2022–23 financial year, up from 17 in the previous FY. What’s mostly getting auditors into trouble? bit.ly/3Z7bJzS #SMSFaccountant #SMSFcompliance

#ATO data shows a higher growth rate in new #SMSF establishments among a younger cohort, with the 35-44 age group providing 34 per cent of all SMSF establishments in the March 2023 quarter. bit.ly/3Lj7E5U?

In the 2022-2023 financial year the #ATO issued an additional $29 million in income tax liabilities, administrative and tax shortfall penalties, and interest on #SMSF trustees and/or members, and disqualified 753 trustees. bit.ly/45M36gX

A recently published Administrative Appeals Tribunal (AAT) case highlights the strict application of the Notice of Intent (NOI) requirements when seeking to claim a tax deduction for personal superannuation contributions. Read more... bit.ly/463XsGo

Lodge and pay the SGC statement – quarterly form for quarter 1, 2023–24 (1 July – 30 September 2023) by 28 November 2023 if required contributions were not made by the due date. Need help? Ask The SMSF Accountant. #SGC #SMSFadmin #SMSFaccountant #SMSFhelper

The #ATO has posted advice to #SMSFtrustees to help prevent the loss of crypto asset investments to scams, theft, trading platform collapses, and lost passwords. #SMSFaccountant #SMSFscams #SMSFnews

Every income year, #SMSFtrustees are responsible for valuing fund's assets at market value. Ask the SMSF Accountant to help by preparing your fund's accounts, statements and SMSF annual return (SAR). #SMSFaccountant #SAR #SMSFtaxation

Many accountants decide to outsource SMSF accounting and administration services to offer their clients specialist SMSF expertise more easily and cost-effectively than in-house services. #SMSFoutsourcing #SMSFaccountant #SMSFservices #SMSFadministrationin-house

It’s important to remember SMSF trustees cannot loan money or provide other forms of financial assistance to a member or relative. If they do, they can incur a penalty of up to $18,780. The SMSF Accountant is here to help 1300 659 589 #SMSFaccountant #SMSFtrustees #SMSFborrowing

Lodge and pay the SGC statement – quarterly form for quarter 1, 2023–24 (1 July – 30 September 2023) by 28 November 2023 if required contributions were not made by the due date. Need help? Ask The SMSF Accountant. #SGC #SMSFadmin #SMSFaccountant #SMSFhelper

You need to appoint an SMSF auditor to audit your fund no later than 45 days before you need to lodge your SMSF annual return. Need help with SMSF administration, taxation, and other compliance? Ask The #SMSFAccountant on 1300 659 589.

The SMSF quarterly statistical report for September 2023 reveals that there are 1,142,957 members of SMSFs - 53% are male and 47% are female. #SMSFaccountant #SMSFstatistics #ATO

In the September 2023 quarter, the #ATO disqualified 223 SMSF trustees who persistently failed to comply with their obligations and/or seriously breached superannuation laws. At risk? The #SMSFAccountant can help with #SMSFcompliance - call 1300 659 589.

The total estimated assets of SMSFs are $884.6 billion according to the #ATO September 2023 quarterly statistical report. The top two asset types held by SMSFs (by value) are listed shares (28%) and cash and term deposits (17%). #SMSFaccountant #SMSFsetup #SMSFadministration

The quarterly transfer balance account report (TBAR) for self-managed super funds (SMSFs) is due on 28 January 2024. #SMSFaccountant #SMSFtaxation #SMSFadministration

Q: What is the 'bring forward rule' and how can it benefit your superannuation fund? The SMSF Accountant explains bring-forward non-concessional contributions, see this article: bit.ly/3XY6aoU #SMSFaccountants #SMSFadministration #SMSF #SMSFtaxation #thesmsfaccountant

Heard about the 'carry forward rule' for superannuation? It's a useful strategy for maximising concessional contributions. In simple terms, learn more about how it works: bit.ly/465q7fM #SMSFaccountants #SMSFadministration #SMSF #SMSFtaxation #thesmsfaccountant

Proposed brand new SMSF tax from FY 2025-2026? Do you know what's being proposed? Will it be good or bad for the SMSF? The SMSF Accountant explains in this article: bit.ly/4cWGTj9 #SMSFaccountants #SMSFadministration #SMSF #SMSFtaxation #thesmsfaccountant #SMSFchanges

Question: Why am I paying more tax on my super contributions? Division 293 tax assessments explained in simple terms by The SMSF Accountant. Call Diana 1300 659 589 for personal service. #smsfaccountant #smsfaccountants #division293 #superannuationtax