Category «SMSF»

How to make your own super contributions

If you want to make a superannuation contribution and claim it in your 2019 tax return you best get a wriggle on. The contribution has to be safely in the superannuation fund by 28th June as the 30th is a Friday. This post addresses the practicalities of making the contribution and dealing with the $25,000 …

When Your Farm is in a Self Managed Superannuation Fund (SMSF)

It is pretty clear, by the concessions available in the legislation, that it is the aim of the government to allow farmers to hold their farms in a SMSF. Nevertheless, it is far too easy to slip off the narrow path so make sure you get good advice right from the start. This blog will equip you with enough knowledge to judge a competent advisor.

Not Refunding Franking Credits Explained

How Franking Credits are Created: In simple terms, imagine an Australian company makes a $100 profit. It pays $30 tax on it and pays a $70 cash dividend to its one shareholder, an Australian resident. The shareholder also receives a tax credit for the $30. As a result, the shareholder declares $100 in income in …