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Decrypting Crypto for SMSFs

Decrypting Crypto for SMSFs

Cryptocurrencies, such as BitCoin or Ethereum, have seen a massive increase in investments over the past few years. With current global economic uncertainty, it isn’t surprising that many SMSF trustees are turning away from traditional investments and looking to cryptocurrencies to bolster their superannuation savings.
While you are permitted to invest in cryptocurrencies via your SMSF, there are a few factors to be mindful of to avoid any potential audit issues.

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Emily Cooper No Comments

2021-22 Federal Budget Update

Happily, this year’s Federal Budget has some welcome changes for SMSFs!

All changes expected to commence from 1 July 2022, once they have received Royal Assent. Until this occurs they still may be subject to changes and amendments.

No more work test!

Arguably the biggest and best change! Now anyone aged 67 to 74 (inclusive) will be able to make non-concessional (including under the bring-forward rule) or salary sacrifice contributions regardless of their working status! The usual contribution limits and thresholds still apply.

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Emily Cooper No Comments

Transfer Balance Cap – what is it and why is it important?

From 1 July 2017, superannuation fund members are subject to a $1.6 million transfer balance cap (TBC) which limits the tax exemption for assets funding superannuation pensions.

The TBC is tracked by the ATO and is updated using a Transfer Balance Account Report (TBAR) to ensure members remain under this cap to retain their 100% tax free income.

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Emily Cooper No Comments

How much money do you need to start an SMSF?

New research released

SMSFs are not for everyone, but where an SMSF is appropriate, the benefits can be considerable.

In the context of ongoing public debate regarding the appropriate minimum size for an SMSF, new research has been provided to provide insights into the true costs of running an SMSF. And the research shows SMSFs are cheaper to run than many people may think.

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Emily Cooper No Comments

New Year’s Resolutions – SMSF Style

“New year, new me!” We’ve all heard it plenty of times – may have even said it once or twice, but how many times has it actually resulted in tangible results?

This year why not start with a few simple things that can have a big impact on your future! Here are a few idea’s to get the most out of your SMSF.

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Emily Cooper No Comments

Risky Business: Cryptocurrency, CFDs and Derivatives, Oh My!

With official interest rates hovering at an all-time low of 0.25%, it’s not surprising that many SMSF trustees are turning to riskier investments to try to generate better returns. While these investments are allowed by the SMSF legislation, there are several factors that need to be considered before investing.

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Emily Cooper No Comments

What an Unexpected Event means for your SMSF

2020 has been a year full of unexpected events, be they local, national, or international. But what happens if you have an unexpected personal event?

Your SMSF is a long-term plan. So much can happen during this time including illness, incapacity or death of a fund member.

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Emily Cooper No Comments

COVID-19 – Providing rental relief for the tenant in my SMSF property

With lockdown restrictions coming back into force in parts of the country many individuals and business may once again find themselves unable to earn any income in the short term – especially if they are only just recovering from previous lockdowns!

If your SMSF has a property and a tenant in financial distress, you may be able to provide your tenant with rental relief under an agreed commercial arrangement. This may even be the case when the tenant is a related party or yourself.

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