Redwood Advisory SMSF
In the Self-Managed Superannuation Funds (SMSF) world, valuing assets at “market value” has always been essential to reflect the real value of the fund. However, recent scrutiny from the Australian Taxation Office (ATO) has brought this issue to the forefront of discussions within the SMSF community. The ATO has raised concerns about SMSF’s consistently reporting…
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The superannuation contributions caps for concessional and non-concessional contributions will increase on 01/07/2024 which is the start of the 2025 financial year. The government has announced these latest figures in an effort to keep up with the cost of living crisis including rising inflation and increases in the super guarantee charge (“SGC”) rate to 11.5%.…
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One of the key strategies of SMSF is to invest in direct property. While some SMSFs may have sufficient funds to purchase a property in cash, many others, particularly those with a younger demographic, have chosen to use a loan to purchase their property. There are two methods to secure a loan either through a…
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SMSFs need to be aware of a key requirement of running an SMSF – you cannot withdraw from your fund unless you meet a condition of release. Funds can be withdrawn from superannuation accidentally (i.e. transfer from internal accounts) or intentionally due to many financial pressures such as financial distress. The Australian Tax Office (“ATO”)…
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