Redwood Advisory SMSF
Like other taxpayer entities, a complying SMSF is entitled to deduct from its assessable income any losses or outgoings that are: • incurred in gaining or producing assessable income • necessarily incurred in carrying on a business for the purpose of gaining or producing such income. Expenses that a complying SMSF can deduct include: •…
read moreIf you carry on an enterprise, you must register for GST if your GST turnover is $75,000 or more. However, most SMSFs do not have to register for GST because most SMSFs mainly make input-taxed supplies, which do not count towards your GST turnover. Input-taxed supplies include financial supplies and supplies of residential premises by…
read moreConstantly, our SMSF clients ask Redwood Advisory, what is better, a corporate or individual trustee structure for your SMSF. At Redwood Advisory, we recommend all funds are set-up with a corporate trustee structure for a fee of $900 (plus GST) including ASIC costs. There may be a set-up cost however, this will definitely pay off…
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