Redwood Advisory SMSF
The government introduced a director ID as a means to prevent false and fraudulent use of a director’s identity and to support regulators and external administrators to track directors across various companies to identify and prevent illegal activities. This applies to all ASIC registered companies. From the 5th April 2022 all directors of a company need a…
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The ATO has released guidance on the changes to Limited Recourse Borrowing Arrangements (LRBAs) on the new LRBA rules ahead of their 10 August commencement date, providing important clarification on how the transitional rules will operate. Importantly, the ATO new guidance clarifies the treatment of off-the-plan purchases, confirming that transactions can remain protected where a…
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It’s usually June where SMSF members are going crazy trying to think about tax minimisation strategies from salary sacrifice to voluntary contributions and carry forward contributions. However, July is a prefer time to plan ahead and avoid the stress of June deadlines. Salary sacrifice Its important to note that the contribution cap has been increased…
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A key objective of setting up an SMSF is to increase your retirement nest egg and to save tax. A key strategy is to maximise your super contributions and carry forward concessional contributions. However its tough to keep up with all the changes the government is making to taxation and SMSFs and therefore its important…
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Everyone has different goals in life. But whatever your goals, getting advice from a qualified financial adviser will help you articulate your plan and can help you achieve your goals – soon. It’s not just about planning for the future either. A financial adviser can help adjust your current situation as well as preparing you…
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One of the most important financial decisions is what to do with your hard earned superannuation and with 1.1 million Australians choosing a SMSF its certainly a buzz word for discussion for many particularly with the impact of covid during 2020 and 2021. Before you set up an SMSF, Redwood would like to outline some…
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From 1 July 2021, self-managed super funds (SMSF) and small APRA funds (SAFs) will be able to have up to six members – increasing from the current maximum of four members. Treasury Laws Amendment (Self Managed Superannuation Funds) Bill 2020 received royal assent on 22 June 2021. It is not just a matter of adding…
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Some good news for SMSF members is that concessional and non concessional contribution (NCC) caps will increase from 1 July 2021. Indexation will result in an increase in the concessional cap from $25,000 to $27,500 and the NCC will increase to $110,000 per year with the ability to bring forward $330,000 in one year subject…
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For some time I have been working to find a better way to borrow in a Self Managed Superannuation Fund avoiding the penalty interest rates applied to SMSF Loans after the withdrawal of the Big 4 and Macquarie leaving non bank lenders to dominate the SMSF space. We were also of the belief that the…
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To provide our clients with a premium service and taking advantage of cloud technology, Redwood has proudly introduced DocuSign for our clients to: view, sign and return documents; in an easy, secure and efficient way! What is DocuSign? DocuSign is an e-signature service provider that allows its customers to view and sign their documents…
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