1. Be compliant: All the necessary paperwork has completed by SMSF. Confirm the fund’s documents and investments are aligned with strategy. Investment strategy needs to be considered as member insurance.
2. Paying minimum pension: To make the minimum pension payment have taken by June 30 or consider the fund to be accumulation phase of the whole year and extra pay tax. A Pension amount based on age and check this worth to ensure as minimum tax. 3. Transfer investment in super: With regulation changes for in-specie (property and shares) transfer into SMSF. To take the effect on July 1 2013 rush on transfer prior date. Basically, after June need to be done on-market. 4. Reserving strategies are worth the risk: The ATO is to look closely at this strategy (delay pay from June into member account, the following year to avoid exceeding contribution cap and tax) and require another explanation. ‘To avoid tax’.
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AuthorKervin Kupp Archives
April 2020
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